Legislation passed by the U.S. House of Representatives threatens to shake up the Securities and Exchange Commission’s enforcement program in a historic manner....more
6/12/2017
/ Administrative Law Judge (ALJ) ,
Administrative Proceedings ,
Dodd-Frank ,
Enforcement Actions ,
Financial Institutions ,
Financial Regulatory Reform ,
Government Investigations ,
Pending Legislation ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Wells Notice ,
White Collar Crimes
Even before President Trump’s nomination of Jay Clayton as the next Chairman of the Securities and Exchange Commission (“SEC” or “Commission”), signs have been appearing that changes are afoot within the Division of...more
3/7/2017
/ Administrative Appointments ,
Anti-Bribery ,
Anti-Corruption ,
Deregulation ,
Dodd-Frank ,
Enforcement Actions ,
Executive Orders ,
Financial Institutions ,
Financial Markets ,
Financial Services Industry ,
Foreign Corrupt Practices Act (FCPA) ,
Proposed Legislation ,
Regulatory Oversight ,
Securities and Exchange Commission (SEC) ,
Trump Administration
On October 11, 2016, the United States Court of Appeals for the D.C. Circuit issued its long-awaited opinion in PHH Corp. v. Consumer Financial Protection Bureau, in which the Court held that the structure of the Consumer...more
10/14/2016
/ Administrative Proceedings ,
Article II ,
Banking Sector ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Due Process ,
HUD ,
Insurance Industry ,
Kickbacks ,
Mortgage Insurance ,
Mortgages ,
PHH Corp. v CFPB ,
Popular ,
Referral Fees ,
Reinsurance ,
Removal For-Cause ,
RESPA ,
Single Director ,
Statute of Limitations ,
Statutory Interpretation
Amendments to the Rules of Practice Do Little to Address Criticism that the Deck is Stacked -
Facing pressure from industry practitioners and in the wake of constitutional challenges in multiple jurisdictions, the...more
8/8/2016
/ Administrative Law Judge (ALJ) ,
Administrative Proceedings ,
Appointments Clause ,
Article II ,
Consumer Protection Act ,
Dodd-Frank ,
Due Process ,
Enforcement Actions ,
Federal Rules of Civil Procedure ,
Federal Rules of Evidence ,
Hearsay ,
Rules of Practice ,
Securities ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Seventh Amendment ,
White Collar Crimes
The Consumer Financial Protection Bureau (“CFPB”) last week announced long-awaited proposed rules governing payday loans and other high-cost credit products, including that lenders must take steps to ensure prospective...more
6/9/2016
/ Ability-to-Repay ,
Automotive Loans ,
Banking Sector ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Dodd-Frank ,
Online Marketplace Lending ,
Payday Loans ,
Popular ,
Title Loans
On May 5, 2016, the Consumer Financial Protection Bureau (“CFPB”) issued a proposed rule to prohibit providers of certain consumer financial products and services from using arbitration clauses to block consumers from filing...more
5/11/2016
/ Arbitration ,
Arbitration Agreements ,
Class Action ,
Class Action Arbitration Waivers ,
Consumer Contracts ,
Consumer Financial Products ,
Dodd-Frank ,
Federal Arbitration Act ,
Financial Institutions ,
Financial Services Industry ,
Service Contracts