In November 2018, Missouri voters passed Amendment 2, setting in motion state regulated medical marijuana. Over the last month, the Missouri Department of Health & Senior Services (DHSS) began approving license applications...more
1/15/2020
/ Agribusiness ,
Anti-Money Laundering ,
Bank Secrecy Act ,
BSA/AML ,
Cannabidiol (CBD) oil ,
Cannabis Products ,
Cannabis-Related Businesses (CRBs) ,
Controlled Substances ,
Controlled Substances Act ,
Credit Unions ,
Currency Transaction Reports (CTR) ,
Decriminalization of Marijuana ,
Department of Justice (DOJ) ,
Dispensaries ,
Federal v State Law Application ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Food and Drug Administration (FDA) ,
Hemp Cultivation ,
Hemp Related Businesses ,
Licensing Rules ,
Marijuana ,
Marijuana Cultivation ,
Marijuana Related Businesses ,
Medical Foods ,
Medical Marijuana ,
Plant Based Products ,
Policies and Procedures ,
Regulatory Oversight ,
Regulatory Reform ,
Regulatory Requirements ,
Reporting Requirements ,
Risk Management ,
State and Local Government ,
Suspicious Activity Reports (SARs)
On September 25, 2019, the U.S. House of Representatives overwhelmingly passed the Secure and Fair Enforcement (SAFE) Banking Act of 2019. The purpose of the SAFE Act is to increase banking access for cannabis businesses by...more
On July 10, 2017, the Consumer Financial Protection Bureau (CFPB) released its long-awaited and controversial final rule on arbitration agreements in contracts for financial products and services. The rule, which takes effect...more
7/26/2017
/ Arbitration ,
Arbitration Agreements ,
Banking Sector ,
Class Action ,
Class Action Arbitration Waivers ,
Congressional Review Act ,
Consumer Contracts ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Dodd-Frank ,
Financial Services Industry
On September 13, 2016, the New York State Department of Financial Services (DFS) proposed new rules that would require certain “Covered Entities” to establish and implement cybersecurity programs designed to protect nonpublic...more
10/17/2016
/ Banking Sector ,
Banks ,
Comment Period ,
Covered Entities ,
Cybersecurity ,
Cybersecurity Framework ,
Data Retention ,
Employee Training ,
Encryption ,
Financial Institutions ,
Financial Services Industry ,
Incident Response Plans ,
NYDFS ,
Policies and Procedures ,
Popular ,
Risk Assessment ,
Risk Management ,
Third-Party Service Provider ,
Vendors
In case you missed it, here is what the Consumer Financial Protection Bureau (CFPB) was up to over the last month:
Enforcement Actions and Litigation -
Enforcement Action Against First National Bank of Omaha...more
9/8/2016
/ Add-ons ,
Advisory Committee ,
Banking Sector ,
Banks ,
Billing ,
CashCall ,
Civil Monetary Penalty ,
Consent Order ,
Consumer Complaint Management ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Dodd-Frank ,
Enforcement Actions ,
Fees ,
Financial Services Industry ,
First National ,
Foreclosure ,
Internet Lenders ,
Late Fees ,
Mortgage Servicers ,
Mortgages ,
Native American Issues ,
Online Marketplace Lending ,
Payday Loans ,
Student Loans ,
Tribal Loans ,
UDAAP ,
Wells Fargo
On May 5, 2016, the Consumer Financial Protection Bureau (CFPB) announced a long awaited and highly controversial proposed rule that, if adopted, would prohibit certain financial services companies from banning consumer class...more
7/25/2016
/ Arbitration ,
Arbitration Agreements ,
Class Action ,
Class Action Arbitration Waivers ,
Consumer Contracts ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Financial Institutions ,
Financial Services Industry ,
Mandatory Arbitration Clauses
The Consumer Financial Protection Bureau (CFPB) had another busy week. Here is an overview of what the CFPB was up to recently:
Enforcement Actions and Litigation -
Enforcement Action Against Santander Bank...more
7/25/2016
/ Amicus Briefs ,
Article III ,
ATMs ,
Background Checks ,
Banking Sector ,
Consent Order ,
Consumer Financial Protection Bureau (CFPB) ,
Debit and Credit Card Transactions ,
Debit Cards ,
Debt Relief ,
Debt-Relief Industry ,
Disgorgement ,
Enforcement Actions ,
Fair Credit Reporting Act (FCRA) ,
Fees ,
Financial Services Industry ,
Foreclosure ,
Homeowners ,
Misrepresentation ,
Overdraft Fees ,
Popular ,
Settlement Agreements ,
Spokeo v Robins ,
Standing ,
Student Loans ,
Summary Judgment
On May 5, 2016, the Consumer Financial Protection Bureau (CFPB) announced a long-awaited and highly-controversial proposed rule that, if adopted, would prohibit certain financial services companies from banning consumer class...more
5/13/2016
/ Arbitration ,
Arbitration Agreements ,
Class Action ,
Class Action Arbitration Waivers ,
Consumer Contracts ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Financial Institutions ,
Financial Services Industry ,
Mandatory Arbitration Clauses ,
Public Comment ,
Service Contracts
On February 18, 2016, Director Richard Cordray of the Consumer Financial Protection Bureau (CFPB) gave a speech at the American Constitution Society, in which he repeatedly attacked arbitration provisions found in consumer...more
On January 28, 2016, the Consumer Financial Protection Bureau (CFPB) released its latest Monthly Complaint Report for December 2015, which provides an overview of three-month trends in consumer complaints. This Monthly...more
On December 3, 2015, the Consumer Financial Protection Bureau (CFPB) announced an enforcement action against subprime credit reporting company Clarity Services, Inc. (Clarity), and its owner, Timothy Ranney (Ranney), for...more