On September 29, 2014, the Department of Defense (DOD) published a proposed rule in the Federal Register to amend its regulation implementing the Military Lending Act (MLA), 32 C.F.R. Part 232, to significantly expand the...more
On September 3, 2014, the Consumer Financial Protection Bureau (“CFPB”) issued a bulletin to warn credit card issuers about marketing practices related to credit card promotional APR offers (“Bulletin”). The Bulletin warns...more
On July 24, the Consumer Financial Protection Bureau published long-awaited proposed revisions to its Home Mortgage Disclosure Act rules. The 573-page proposed rule would make sweeping changes to Regulation C, which...more
Last Thursday, the Consumer Financial Protection Bureau (CFPB) published its long-awaited new proposed revisions to its Home Mortgage Disclosure Act (HMDA) rules. The 573-page proposed rules would make sweeping changes to...more
On March 18, 2014, the Consumer Financial Protection Bureau (CFPB) continued its long march toward regulating general-purpose reloadable (GPR) prepaid cards by releasing test model disclosures for prepaid card packaging that...more
In yesterday’s Federal Register, the Consumer Financial Protection Bureau (“CFPB”) published an amendment to the safe harbor thresholds for credit card penalty fees found in Section 1026.52(b)(1)(ii) of Regulation Z to...more
After the financial crisis, have you ever asked, “What does it all mean?”
Now, we have an answer for you: MoFo’s Regulatory Reform Glossary.
Since the great financial crisis, financial institutions have been...more
On November 12, 2013, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) published an advance notice of proposed rulemaking (“ANPR”) in the Federal Register seeking information from the public about the operations,...more
‘‘Happy, Happy, Happy’’ is the phrase used by that towering philosopher Phil Robertson, from the TV show Duck Dynasty. You can be sure no bankers utter that phrase whenever a regulatory agency first breathes a word about...more
On June 25, 2013, the Consumer Financial Protection Bureau (CFPB) issued Bulletin 2013-06 identifying “responsible business conduct” that may impact the exercise of its “enforcement discretion.” The Bulletin specifies the...more
Several weeks ago, the Consumer Financial Protection Bureau (“CFPB”) issued a fair lending guidance bulletin (“Bulletin”) directed at financial institutions that make indirect automobile loans. While the Bulletin thus far has...more
6/5/2013
/ Automotive Industry ,
Compliance ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Justice (DOJ) ,
Dodd-Frank ,
ECOA ,
Enforcement ,
Fair Lending ,
HMDA ,
Nissan ,
Regulation B ,
Rulemaking Process
On April 19, 2013, the Consumer Financial Protection Bureau (“CFPB”) announced it was making a determination to preempt a provision of Tennessee unclaimed property law that it deemed inconsistent with the federal Electronic...more
Editor’s Note -
This is a dignified law firm newsletter, not like the “Brand X” versions. You won’t find pandering, attention-grabbing stories about Justin Bieber, Kim Kardashian, Ashton Kutcher, Prince William, or...more
3/13/2013
/ Arbitration ,
Barack Obama ,
China ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Reports ,
Cybersecurity ,
Data Protection ,
Debt Collection ,
Dodd-Frank ,
Dukes v Wal-Mart ,
Fair Housing Act (FHA) ,
FDCPA ,
FDIA ,
FDIC ,
Federal Reserve ,
Federal Trade Commission (FTC) ,
Foreclosure ,
Mobile Apps ,
Recess Appointments ,
Richard Cordray ,
Social Media ,
Telemarketing
On January 10, 2013, the Consumer Financial Protection Bureau issued much-anticipated revisions to Regulation Z to implement provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act that require lenders to...more
Table of Contents:
Introduction; Financial Stability Reform; Resolution Planning; Agencies and Agency Oversight Reform; Securitization Reform; Derivatives Regulation; Investor Protection Reform; Credit Rating Agency...more
12/29/2012
/ Capital Requirements ,
Consumer Financial Protection Bureau (CFPB) ,
Corporate Governance ,
Credit Ratings ,
Derivatives ,
Disclosure Requirements ,
Dodd-Frank ,
Financial Stability Acts ,
Foreign Banks ,
Mortgage Loan Originators ,
Mortgages ,
Securitization ,
Servicing Policies ,
Volcker Rule
In This Issue:
Bureau Report; Operations Report; Beltway Report; Arbitration Report; Mortgage Report; Privacy Report; Preemption Report; and Plastics Report.
Excerpt from the Bureau Report:
World’s Most...more
12/18/2012
/ American Express ,
Chase Bank ,
Consumer Financial Protection Bureau (CFPB) ,
Cybersecurity ,
Debt Collection ,
Dodd-Frank ,
FDIC ,
Federal Trade Commission (FTC) ,
Google ,
Mobile Apps ,
MySpace ,
Project Catalyst ,
Stress Tests ,
Truth in Lending Act (TILA)