Trends in FCPA Compliance and Enforcement for 2014
What Is Driving Stepped Up Government Health Care Enforcement? – Interview with Hope Foster, Member, Mintz Levin
SEC News - Five Year Enforcement Limitation, FCPA Charges for Foreign Nationals, More...
Should Wall Street Fear Mary Jo White?
The Consumer Financial Protection Bureau’s recently released fall 2013 rulemaking agenda portends aggressive rulemaking by the Bureau in 2014.
With most of the rulemaking mandated by the Dodd-Frank Act now completed,...more
On November 12, 2013, Richard Cordray, Director of the CFPB, appeared at the hearing of the Senate Banking, Housing and Urban Development Committee to discuss the CFPB's Annual Report to Congress. During the hearing, Senators...more
As a follow-up to our recent post on Director Cordray’s plans on whether to pursue political office, we offer the highlights below from last week’s Politico Morning Money Breakfast Briefing. During the event, Politico Chief...more
On November 6, the CFPB announced that it now will formally accept borrower complaints regarding payday loans through its online complaint portal and by phone. The CFPB’s complaint taking process launched with the Bureau in...more
As trusted advisors, that is, lawyers (no lawyer/shark jokes please, but did you hear the one about…), to many financial institutions, we spend much of our day on digitally enhanced telephones or other devices communicating...more
Thirty groups have written to the CFPB, FTC, Department of Justice and federal banking regulators urging them “to closely monitor the payment processing procedures and compliance safeguards in place” at the payment processors...more
Payroll card accounts have many benefits. The cards are a helpful option for employees who do not have checking accounts, and many banks have offered financial incentives to employers who choose their institution's card to...more
On October 23, CFPB Director Richard Cordray briefly spoke with the Reuters Washington Summit about the Bureau’s rulemaking and enforcement work.
Upcoming Effective Dates for Mortgage Rules -
According to the...more
After concerns from the industry, its own ombudsman, and the Office of Inspector General for the Federal Reserve Board and the CFPB, the CFPB has announced that effective November 1, 2013, it will cease having enforcement...more
The CFPB has decided to end its policy of sending enforcement attorneys to routine examinations of supervised financial institutions. The policy change will take effect on November 1, 2013....more
The Consumer Financial Protection Bureau (“CFPB” or “Bureau”) recently announced it was ending a controversial practice of sending enforcement attorneys on supervisory exams, over a year after it was asked to stop by groups...more
When it comes to the Consumer Financial Protection Bureau’s ("CFPB" or the "Bureau") compliance expectations, it is important to separate myth from fact. These days, the CFPB is moving full-steam ahead on examining non-banks...more
While Director Cordray mostly recycled comments he has previously made about the CFPB’s mortgage rules in his remarks today to the American Mortgage Conference, he did offer some newsworthy information....more
The updated work plan as of August 30, 2013 of the Office of Inspector General (OIG) for the Fed and CFPB describes various CFPB projects that are “in progress” or “planned.”...more
A new amicus brief filing by the CFPB recently appeared on the CFPB’s amicus program webpage. On August 14, 2013, the CFPB, jointly with the FTC, filed an amicus brief in Delgado v. Capital Management Services, LP, et al., a...more
Yesterday we blogged about CFPB Bulletin 2013-09, which examined the CFPB’s expectations of furnishers investigating disputes under the federal Fair Credit Reporting Act (FCRA)....more
The CFPB is poised to further ramp up its oversight of the debt collection industry. According to a Bloomberg report by Carter Dougherty, Director Cordray said in an interview earlier this week that the CFPB “will be looking...more
The District of Columbia Bar recently hosted a presentation on CFPB enforcement priorities. The sole speaker was Mr. Hunter Wiggins, Deputy Enforcement Director of Policy and Strategy of the CFPB’s Supervision, Enforcement &...more
The interest of regulators and enforcement authorities in short-term, small-dollar credit products – including payday loans, advance deposit products, installment loans, and more – has intensified in 2013. State and federal...more
The American Association of Residential Mortgage Regulators (AARMR), the trade association for regulators responsible for supervising non-depository mortgage companies, held its annual conference last week in Denver....more
At least six federal agencies, including the U.S. Department of Justice (DOJ), the Consumer Protection Financial Bureau (CFPB), and the Federal Trade Commission (FTC), are currently coordinating a broad crackdown of the...more
Several weeks ago, the Consumer Financial Protection Bureau (“CFPB”) issued a fair lending guidance bulletin (“Bulletin”) directed at financial institutions that make indirect automobile loans. While the Bulletin thus far has...more
This past Thursday, the CFPB announced that it filed a complaint against a Florida debt-relief company that misled consumers across the country. Following an investigation into American Debt Settlement Solutions, Inc. (ADSS)...more
In its Semiannual Report to Congress for the six month period ending March 31, 2013, the Federal Reserve Board’s Office of the Inspector General (OIG) indicates that, during the next semiannual reporting period (which ends...more
The CFPB announced earlier this week that it has established a “framework” with the Conference of State Bank Supervisors (CSBS) for coordination among the CFPB and state regulators on supervision and enforcement matters....more