Truth in Savings Act

News & Analysis as of

Expansion of California’s Unfair Competition Law

In yet another expansion of California’s unfair competition law, the California Supreme Court recently ruled that state law claimants may base a cause of action on a “borrowed” federal statute even though the U.S. Congress...more

FRB Proposes to Repeal Regulations P and DD and Amend Regulation V

The FRB issued a Notice of Proposed Rulemaking to repeal its regulation implementing the Truth in Savings Act, Regulation DD, and the regulation implementing the provisions of the Gramm-Leach Bliley Act protecting the privacy...more

FFIEC Releases Final Guidance For Financial Institutions Using Social Media

The Federal Financial Institutions Examination Council (the “FFIEC”) has released final guidance addressing the applicability of federal consumer protection and compliance laws, regulations, and policies to activities...more

Social Media: Consumer Compliance Risk Management Guidance

On December 11, 2013, the Federal Financial Institutions Examination Council (FFIEC) released final guidance (“Guidance”) on the applicability of consumer protection and compliance laws, regulations, and policies to...more

CFPB Reports On Impacts Of Regulations For Banks

On November 22, the CFPB released findings of a study the Bureau conducted on the impact of certain deposit regulations on the day-to-day operations of banking institutions, focusing on compliance costs related to checking...more

Supreme Court Update: A Claim of Unlawful Business Practice Brought Under California’s Unfair Competition Law May Be Based on...

In Rose v. Bank of America (--- P.3d ----, Cal., August 1, 2013), the California Supreme Court considered whether a consumer could bring an action for unlawful business practices under state law, for violations of federal...more

California Supreme Court Holds Borrowers Can Bring State Law Claims Based On TISA Violations

On August 1, the California Supreme Court held that the federal Truth in Savings Act (TISA), which does not provide a private right of action, does not similarly bar state law claims derived from alleged TISA violations. Rose...more

Appellate Law -- Aug 06, 2013

In an opinion issued late last week, the California Supreme Court interpreted the Unfair Competition Law, Cal. Bus. & Prof. Code § 17200 et seq. (the “UCL”), to allow a UCL unlawfulness claim based on a “borrowed” federal...more

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