Providers of consumer financial services that rely on federal preemption to charge customers uniform interest rates and fees on a nationwide basis are currently facing a series of legislative and litigation challenges. In...more
12/21/2023
/ Banking Sector ,
Certiorari ,
Chevron Deference ,
Dodd-Frank ,
FDIC ,
Financial Services Industry ,
Interest Rates ,
National Bank Act ,
OCC ,
Preemption ,
SCOTUS ,
State Banks ,
True Lender
We recently published a blog about the OCC’s proposed rule “National Banks and Federal Savings Associations as Lenders” (the “Proposed Rule”), which would clarify that a bank (or savings association) is properly regarded as...more
10/13/2020
/ Banking Sector ,
Bright-Line Rule ,
Dodd-Frank ,
FDIC ,
Federal Savings Associations ,
Financial Services Industry ,
FinTech ,
OCC ,
Proposed Rules ,
Rulemaking Process ,
True Lender ,
Usury ,
Valid When Made Doctrine
In the wake of the U.S. Supreme Court’s June 29, 2020 decision in Seila Law LLC v. Consumer Financial Protection Bureau, which held that the CFPB’s leadership structure violates the separation of powers mandated by the U.S....more
8/10/2020
/ Constitutional Challenges ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Debt-Relief Industry ,
Dodd-Frank ,
Equitable Relief ,
Removal At-Will ,
Removal For-Cause ,
SCOTUS ,
Seila Law LLC v Consumer Financial Protection Bureau ,
Separation of Powers ,
UDAAP