News & Analysis as of

Dodd-Frank Wall Street Reform and Consumer Protection Act › Consumer Financial Protection Bureau (CFPB) › Corporate Counsel

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and... more +
The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and includes broad reforms related to many aspects of the financial and banking industry. Notable sections of the Act include stricter regulations of the derivatives market, as well as the Volcker Rule, which restricts the trading practices of FDIC-insured institutions.    less -
Morrison & Foerster LLP

CFPB California Style: The California Consumer Financial Protection Law Brings More Providers Of Consumer Financial Products And...

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On August 31, 2020, the California legislature passed the California Consumer Financial Protection Law (CCFPL). The law reflects Governor Newsom’s vision of a much more powerful banking agency with new registration authority,...more

McGuireWoods LLP

If the CFPB is Unconstitutional, Can Its Prior Actions be Unwound?

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There are widespread expectations that the Supreme Court, following an oral argument last week, may rule that part of the law that created the CFPB is unconstitutional. As a result, many business executives, in particular,...more

McGuireWoods LLP

Supreme Court to Consider the CFPB’s Constitutionality: Key Takeaways

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On Friday, the U.S. Supreme Court agreed to consider the constitutionality of the Dodd-Frank Act law that prohibits the President from removing a CFPB Director except for “inefficiency, neglect of duty, or malfeasance” — the...more

Dechert LLP

Election 2016: President Trump’s Potential Impact on Business

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Now that U.S. President-Elect Donald J. Trump has secured victory and Republicans retained control of Congress, it’s time to take a serious look at the Republican Party platform and its potential impact on business....more

Ballard Spahr LLP

CFPB proposes rule expanding disclosure of confidential supervisory information to state AGs

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Without an announcement, the CFPB has proposed a rule that would expand its discretion to share confidential supervisory information (CSI) with state attorneys general and other agencies that do not have supervisory authority...more

Baker Donelson

Reading the CFPB Amicus Tea Leaves

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Because the CFPB is still a young agency, having formed in 2011 pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank), the enforcement record of the Agency is somewhat limited, not by...more

Alston & Bird

CFPB Seeks to Expand Its Dominion Over Consumer Lending with Strict Proposed Rules

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On June 2, 2016, the Consumer Financial Protection Bureau (CFPB) released a long-anticipated proposal pursuant to its authority under the Dodd-Frank Wall Street Reform and Consumer Protection Act to regulate the provision and...more

Ballard Spahr LLP

Ninth Circuit Rejects Director Cordray's Recess Appointment as Defense to CFPB Enforcement Action; Dissenting Judge Disagrees

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Since it was filed in a California federal court in July 2012, we have been following Consumer Financial Protection Bureau (CFPB) v. Chance Edward Gordon, a case in which the CFPB alleged that an attorney duped consumers by...more

McGuireWoods LLP

Oral Arguments in PHH Case Signal Trouble for CFPB

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The D.C. Circuit held oral arguments on April 12, 2016 in the case PHH Corp v. Consumer Financial Protection Bureau (CFPB), a case challenging the CFPB’s constitutionality as well as its interpretations of the Real Estate...more

Dorsey & Whitney LLP

When is an Administrative Action Barred by the Dodd-Frank Act’s Three-Year Statute of Limitations? Never, According to the CFPB

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Corporate defendants are entitled to the protections afforded by statutes of limitations, which bar claims for conduct long-past and are “vital to the welfare of society.” See, e.g., Gabelli v. S.E.C., 133 S. Ct. 1216, 1221...more

K&L Gates LLP

Are Public Companies Required to Disclose that the Government is Investigating Them?

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For many public companies, the first issue they have to confront after they receive a government subpoena or Civil Investigative Demand (“CID”) is whether to disclose publicly that they are under investigation. Curiously, the...more

Dorsey & Whitney LLP

“Abusive” Development – Recent Applications of the Prohibition against Abusive Acts and Practices

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The enactment of the Dodd-Frank Act in 2010 created the Consumer Financial Protection Bureau (“CFPB”) and, among other things, vested it with broad authority to enforce prohibitions on unfair, deceptive and abusive acts and...more

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