On July 9, 2021, President Biden signed the Executive Order on Promoting Competition in the American Economy. The Order, breathtaking in scope, asserts as a key goal the desire to improve the lives of consumers through...more
7/21/2021
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Biden Administration ,
Competition ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Agriculture ,
Department of Health and Human Services (HHS) ,
Dodd-Frank ,
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Employment Contract ,
Executive Orders ,
FCC ,
Federal Reserve ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
Insurance Industry ,
Non-Compete Agreements ,
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Restrictive Covenants ,
Technology Sector ,
Unfair Labor Practices
On October 5, 2017, the Consumer Financial Protection Bureau (CFPB) finalized its new rules governing the small-dollar consumer loan market, based on a proposal first released in June 2016. The rule requires underwriting for...more
On July 10, 2017, the Consumer Financial Protection Bureau (CFPB) issued its long-awaited and controversial rule prohibiting class action waivers in consumer contracts. Unless Congress uses the Congressional Review Act (CRA)...more
On June 12, 2017, the U.S. Supreme Court held in Henson v. Santander Consumer USA that the Fair Debt Collection Practices Act does not apply to debt buyers, as opposed to debt collectors working on behalf of loan originators....more
Much has been said and written about the UK public’s decision in June 2016 to leave the European Union and the November 2016 election of President Donald Trump. It seems obvious that these momentous events will have profound...more
The election of Donald Trump and the new administration means a changed political reality for the Consumer Financial Protection Bureau (CFPB). The President-elect is expected to replace Director Richard Cordray as head of the...more
A divided panel of the U.S. Court of Appeals for the District of Columbia Circuit ruled October 11, 2016, that the current structure of the Consumer Financial Protection Bureau (CFPB) is unconstitutional. The court concluded...more
On September 17, the Consumer Financial Protection Bureau (CFPB) proposed to make nonbank automobile lenders subject to the examination and direct supervision of the Bureau. The proposed rule can be found here. Under the...more
The Consumer Financial Protection Bureau (CFPB) issued a bulletin on September 3, 2014 warning credit card companies that marketing materials for promotional annual percentage rate (APR) offers may be in violation of the...more
In a May 23, 2014 blog post by Kelly Cochran, Assistant Director of Regulation, the Consumer Financial Protection Bureau indicated that it is working on a “larger participant” rule for nonbank automobile lenders pursuant to...more
On April 4, 2014, the Department of Labor (DOL) issued an Interim Final Rule establishing procedures concerning the manner in which the Occupational Safety and Health Administration (OSHA) will address employee whistleblower...more
On March 25, 2014, the Consumer Financial Protection Bureau (CFPB) released its second report on payday lending. This report followed a white paper on payday lending and deposit advance products that the CFPB issued in April...more
Earlier this week, the Consumer Financial Protection Bureau (CFPB) announced that it is working on potential new consumer disclosure requirements for prepaid cards to standardize fee disclosures. The new disclosure...more
On January 23, 2014, the Consumer Financial Protection Bureau (CFPB) proposed a rule whereby the definition of “larger participants” will be expanded to include nonbanks that perform one million or more international money...more
On December 12, 2013, the Consumer Financial Protection Bureau (CFPB) released its preliminary report on the use of arbitration clauses in consumer financial products and services. The preliminary report focuses on...more