News & Analysis as of

Remediation Consent Order

Morrison & Foerster LLP

FDIC Enters into Consent Order with Fintech Focused Bank

Reflecting expected heightened regulatory scrutiny of fintech-bank partnerships, the Federal Deposit Insurance Corporation (FDIC) issued a consent order for a bank that is deep in the bank-fintech sponsorship space over...more

Epiq

Planning for a Remediation: Proactive Considerations for Financial Institutions

Epiq on

Financial institutions are more regularly dealing with voluntary remediations and public consent order activity due to heightened scrutiny by regulators and changing internal policies. These events can be complex and also...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Sand and Gravel Mine/Order on Consent: New York Appellate Court Addresses Challenge to Remediation Plan

The New York Supreme Court (Appellate Division) (“Court”) addressed in a March 3rd Memorandum and Order (“Memorandum”) a challenge to the New York Department of Environmental Conservation’s (“NYDEC”) acceptance of a...more

ArentFox Schiff

Investigations Newsletter: Investment Bank Fined $400 Million For Failing to Remediate Deficiencies in its Risk Management Systems

ArentFox Schiff on

Investment Bank Fined $400 Million For Failing to Remediate Deficiencies in its Risk Management Systems - On October 7, the Federal Reserve Board and Office of the Comptroller of the Currency issued a consent order...more

The Volkov Law Group

Federal Reserve Hits Wells Fargo with Unprecedented Enforcement Action (Part I of II)

The Volkov Law Group on

In an extraordinary action, with significant ramifications for the financial industry, the Federal Reserve recently announced a series of enforcement actions against Wells Fargo....more

Stoel Rives LLP

Oregon DEQ Pilot Program to Review Long-term Controls at Cleanup Sites

Stoel Rives LLP on

This March the Oregon Department of Environmental Quality (“DEQ”) is launching a pilot program to take a fresh look at long-term institutional and engineering controls implemented at cleanup sites that have received No...more

Smith Debnam Narron Drake Saintsing & Myers,...

CFPB Continues to Expand Its Meaningful Involvement Requirements for Debt Collection Law Firms

The CFPB recently issued its third consent order involving a debt collection law firm and appears to be expanding its interpretation of “meaningful involvement”. The order, which was entered against two related debt...more

Smith Debnam Narron Drake Saintsing & Myers,...

CFPB Consent Orders Serve as a Reminder to Mortgage Industry on Advertising Practices

A recent series of CFPB consent orders should remind the mortgage industry to carefully monitor its advertising practices. The MAP Rule prohibits deceptive and misleading commercial communications regarding any term of any...more

Sheppard Mullin Richter & Hampton LLP

Most Recent CFPB Supervisory Highlights Feature FCRA, LO Compensation and Debt Collection Issues

The Consumer Financial Protection Bureau’s most recent supervisory highlights publication featured issues relating to the Fair Credit Reporting Act, loan originator compensation and in-person debt collection that should be on...more

Pullman & Comley, LLC

CT Law of the Land

Pullman & Comley, LLC on

In response to an act of illegal clear-cutting of roughly three acres of a Connecticut state forest, the offending company and the Commissioner of the Department of Energy and Environmental Protection (DEEP) entered into a...more

Morrison & Foerster LLP

CFPB Brings First Enforcement Action Involving Deferred Interest Products, Imposes Novel and Burdensome Application Requirements...

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Yesterday, the Consumer Financial Protection Bureau (“CFPB”) announced a consent order with GE Capital Retail Bank and its subsidiary CareCredit (collectively “CareCredit”) related to what the CFPB alleges were unfair and...more

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