In a recent 5-4 decision reversing the Ninth Circuit and settling a circuit split, the Supreme Court of the United States in Coinbase v. Bielski held that a district court must stay its proceedings while an interlocutory...more
8/2/2023
/ Appeals ,
Arbitration ,
Automatic Stay ,
Class Action ,
Coinbase ,
Coinbase Inc v Bielski ,
Federal Arbitration Act ,
Griggs v Provident Disc Co ,
Interlocutory Appeals ,
SCOTUS ,
Stays
We start this issue with a feeling of déjà vu all over again. Decisions made during the mortgage crisis are back in the news with a powerhouse legal ruling and the Treasury’s initial thinking on how to turn back time. First,...more
9/12/2019
/ Appeals ,
Arbitration ,
BSA/AML ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Fair Credit Reporting Act (FCRA) ,
Fair Lending ,
FDIC ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
FinCEN ,
GAO ,
HUD ,
Libor ,
Money Laundering ,
No-Action Letters ,
Reporting Requirements ,
Secured Overnight Funding Rate (SOFR) ,
Securities and Exchange Commission (SEC) ,
SHIELD Act ,
TCPA ,
Volcker Rule
The fireworks have started early this year. On May 2, a federal court in New York rejected the OCC’s motion to dismiss the lawsuit brought by the NY DFS challenging the OCC’s fintech charter. The decision has something for...more
6/18/2019
/ Appeals ,
Arbitration ,
BSA/AML ,
Consumer Financial Protection Bureau (CFPB) ,
Fair Lending ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
OCC ,
TCPA ,
UDAP
On April 24, 2019, the Supreme Court’s decision in Lamps Plus, Inc. v. Varela made it clear that an arbitration agreement must explicitly contemplate and provide for class arbitration, building on a line of pro-arbitration...more
4/26/2019
/ Ambiguous ,
Appeals ,
Arbitration ,
Arbitration Agreements ,
Class Arbitration ,
Consent ,
Federal Arbitration Act ,
Federal v State Law Application ,
Jurisdiction ,
Lamps Plus Inc v Varela ,
Motion to Compel ,
Preemption ,
Reversal ,
SCOTUS
EDITOR’S NOTE -
In the words of Willie Wonka: “Wait a minute — strike that, reverse it!” As loyal readers will recall, in our last issue, we tried to stay current in referring to the CFPB by what Mick Mulvaney declared...more
3/11/2019
/ Appeals ,
Arbitration ,
BSA/AML ,
Consumer Financial Protection Bureau (CFPB) ,
Fair Lending ,
FDIC ,
Financial Services Industry ,
Payday Loans ,
TCPA ,
Truth in Lending Act (TILA) ,
Volcker Rule
In between holiday shopping and merriment, we here at the Financial Services Report are pondering what’s in a name. Not much, said Shakespeare. Isaac Asimov begged to differ in a mystery story about who killed one of the...more
12/12/2018
/ Appeals ,
Arbitration ,
Auto-Dialed Calls ,
BSA/AML ,
Consumer Financial Protection Bureau (CFPB) ,
Fair Lending ,
Financial Services Industry ,
FinCEN ,
HMDA ,
Lenders ,
Mortgages ,
OCC ,
Opt-Outs ,
Payday Lending Rule ,
Privacy Laws ,
SCOTUS ,
TCPA