Bringing banks into the battle over payday lending, the Consumer Financial Protection Bureau (CFPB) released a report finding that online payday loans "add a steep, hidden cost" to consumers by racking up bank fees....more
Why it matters -
In what the government calls its first ever discrimination settlement involving “buy here, pay here” auto financing, the Department of Justice (DOJ) and North Carolina Attorney General reached a deal...more
In an enforcement sweep dubbed “Operation Mis-Modification,” the Federal Trade Commission (FTC), Consumer Financial Protection Bureau (CFPB), and 15 state Attorneys General have targeted “foreclosure relief scammers that have...more
Texas-based ACE Cash Express will pay a total of $10 million to settle an enforcement action brought by the Consumer Financial Protection Bureau (CFPB), predicated upon a finding by the CFPB that ACE had engaged in unfair,...more
D.C. Circuit Court Upholds Fed’s Debit Card Fee Cap, Antiexclusivity Rules -
Dealing a blow to merchants nationwide, the D.C. Circuit Court of Appeals reversed a lower court and upheld the rules promulgated by the...more
State and Federal Lawmakers, Chair of Fed Weigh in on Regulation of Virtual Currency -
The New York Department of Financial Services issued an order on Wednesday that it will immediately start accepting applications...more
3/14/2014
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Bitcoin ,
Chadbourne & Parke LLP v Troice ,
Class Action ,
Compliance ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Credit Reports ,
Ponzi Scheme ,
SCOTUS ,
SLUSA ,
Virtual Currency
Community Banks and the Volcker Rule: What’s Next? -
For now, banks that have investments in CDO securities that are issued by funds that are invested in trust preferred securities (TruPS CDOs) have dodged a bullet. On...more
1/17/2014
/ Arbitration ,
Banking Sector ,
Collateralized Loan Obligations ,
Community Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Covered Entities ,
Department of Justice (DOJ) ,
Dodd-Frank ,
Fair Lending ,
FFIEC ,
Financial Institutions ,
Mandatory Arbitration Clauses ,
Social Media ,
Trust Preferred Securities ,
Volcker Rule