The Fed closed out its April Open Markets Committee by holding rates steady at nearly zero but also pledging to “use its ‘full range of tools’ to insulate the economy as coronavirus lockdowns sap economic growth and throw...more
HP has officially rejected Xerox’s enhanced takeover bid, again calling the offer “too low” and decrying its “disproportionate[] benefit” for Xerox shareholders....more
Fed Chair Powell was far from the main attraction on the Hill yesterday, but hey, let’s keep it on topic here and note his belief that the U.S. economy is performing well even as certain risks—including “sluggish growth...more
Man-of-the-people PM Boris Johnson is set to as the Queen to suspend parliament for 5 weeks in an attempt to squeeze the time for opposition to the October 31st Brexit deadline, a move that’s prompting concerns about a...more
Amazon announced this week that it will spend $700 million to retrain a third of its US workforce to adapt to the increasing amount of robotic and automation technology in its warehouses. The 6-year effort will eventually...more
All of that SuperBowling seems to have put activist investor Starboard in the mood for some pizza—specifically, former NFL-partner Papa John’s, which has struggled in the wake of the removal of its founder and namesake John...more
Effective January 1, 2019, the Bureau of Consumer Financial Protection raised the maximum amount a Consumer Reporting Agency is allowed to charge a consumer for a copy of their consumer file disclosure under the FCRA to...more
We’ve already considered what the arrest of Huawei’s CFO will mean for the trade war between the U.S. and China. Now let’s dig in to what that move—and a host of recent country-level rejections of Huawei’s 5G...more
We’re glad the steak dinner went well, but we’re also still anxiously awaiting actual details about what exactly is covered by the pause in the US/China trade war....more
New York has sued Exxon Mobile over its alleged failure to disclose to its shareholder the “expected risk of climate change to its business”—behavior that the state asserts amounts to a “’longstanding fraudulent scheme’ to...more
Comcast has withdrawn from its bidding war with Disney over 21st Century Fox’s assets, but it will continue in its pursuit of British satellite TV provider Sky PLC....more
As expected, the Fed left interest rates at current levels yesterday, though it hinted at another December rate hike and officially unveiled the start of its bond wind-down next month....more
The CFPB has ordered UniRush (purveyor of the RushCard prepaid debit card) and its payment processor, MasterCard, to fork over $13 million in fines after a breakdown last year that blocked thousands of customers from...more
In February the Consumer Financial Protection Bureau and Department of Justice announced entry of a consent order with Toyota Motor Credit, the U.S. financing arm of Toyota Motors’ subsidiary Toyota Financial Services. The...more
As expected, the Fed kept interest rates at current levels and “once again pared its plans for raising interest rates, citing the weakness of the global economy as a reason for greater caution about the prospects for domestic...more
Not only student loan servicers, but all companies, particularly those subject to the CFPB’s supervisory authority, face new compliance risk under the Servicemembers Civil Relief Act (the “SCRA”) as a result of the stunning...more
The Consumer Financial Protection Bureau (CFPB) has announced that it is considering proposing new mortgage servicing rules. The potential new rules are intended to provide additional protections to consumers. According to...more
On April 10, 2012, the Consumer Financial Protection Bureau (CFPB) outlined new rules it is proposing to adopt to increase accountability and transparency in the mortgage servicing industry. Pursuant to its authority under...more