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Consumer Protection Updates

Read Consumer Protection updates, news, and legal commentary from leading lawyers and law firms:

House Committee Approves Bills that Would Repeal Conflict Minerals and Mine Safety Disclosure Requirements

by White & Case LLP on

On November 15, 2017, the House Financial Services Committee (the "Committee") approved two pieces of legislation that would repeal the conflict minerals and mine safety and health disclosure requirements promulgated under...more

Artificial Intelligence: Expectations of the IT Department

by Morgan Lewis on

Artificial intelligence (AI) is the hot topic on everyone’s mind. Technology providers are researching and developing how they can exploit AI, companies in a wide range of industries are seeking to understand how AI will...more

Structured Thoughts: News for the financial services community, Volume 8, Issue 8

Sales of VIX-Linked ETPs – Back to Basics for FINRA - FINRA used a misselling case to remind member firms of certain fundamentals, including the importance of implementing a new product approval process, reasonable...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

DealBook’s Common Sense column takes a look at the AT&T/Time Warner deal and the “battle lines” forming for an “epic” antitrust battle, in spite of the vertical nature of the merger (the companies don’t compete in any...more

Overview of the Tenant Fees Bill 2017

by Dentons on

As part of the government's drive to improve transparency and fairness within the lettings market, the Tenant Fees Bill has recently been introduced in Parliament. A key provision of the Bill is the prohibition on landlords...more

CFPB's Financial Data Sharing Principles Impose New Burdens On Financial Institutions

by Pepper Hamilton LLP on

The Consumer Financial Protection Bureau (CFPB) recently published nine “principles” and an accompanying “insights” report regarding consumers who have authorized financial data sharing and aggregation (especially with...more

CFPB final payday/auto title/high-rate installment loan rule published in Federal Register

by Ballard Spahr LLP on

The CFPB’s final payday loan rule was published in today’s Federal Register. Lenders covered by the rule include nonbank entities as well as banks and credit unions. In addition to payday loans, the rule covers auto title...more

Ad Groups Ask FTC To Focus On Concrete Injuries, Not Subjective Emotional Distress

by King & Spalding on

Several advertising groups recently filed comments with the Federal Trade Commission (“FTC”) urging the organization to pursue enforcement actions only against security and privacy practices that cause “concrete injuries” to...more

Antitrust Alert - Le contrôle des concentrations en Europe - Ce qui change en 2017

Les règles de l’Union Européenne en matière de contrôle des concentrations coexistent avec les régimes nationaux du droit des concentrations dans la plupart des 28 Etats membres. La notification et l’approbation d’une ou...more

President Trump to appoint Mick Mulvaney CFPB Acting Director

by Ballard Spahr LLP on

According to media reports, President Trump is expected to name Mick Mulvaney, the current Director of the Office of Management and Budget, to serve as CFPB Acting Director upon Director Cordray’s resignation.  The...more

Antitrust Alert - Merger control in Europe - What changes in 2017

The European Union (“EU") merger control regime coexists with national merger control regimes in almost all of the 28 EU Member States. Depending on the parties’ turnover and market shares, the filing and clearance of...more

Otting confirmed as Comptroller of the Currency

by Ballard Spahr LLP on

By a vote of 54-43, Joseph Otting has been confirmed by the Senate as Comptroller of the Currency. Mr. Otting is a former president and CEO of California-based OneWest Bank, where he worked with Steven Mnuchin, who now serves...more

CFPB Files Suit Against National Debt-Settlement Services Provider For Allegedly Misleading Consumers

by Goodwin on

On November 8, 2017, the Consumer Financial Protection Bureau (“CFPB”) announced it filed suit in federal court in California against a national debt-settlement services provider and its CEO based on alleged violations of the...more

Will CFPB Director Richard Cordray's Resignation Usher in a New Era of Financial Services Regulation?

by Clark Hill PLC on

On Wednesday, November 15, 2017, Richard Cordray, the confirmed Director of the Consumer Financial Protection Bureau ("CFPB" or "Bureau") as of July 16, 2013, revealed that he will leave that position by the end of the month....more

FTC’s New COPPA Guidance on Recording Children’s Voices: Five Tips for App Developers and Toymakers to Comply

by Fenwick & West LLP on

The Federal Trade Commission on October 23, 2017, provided guidance on how it will enforce the Children’s Online Privacy Protection Act (COPPA) with respect to audio recordings of children. This comes as part of a wave of...more

TCPA FCC Petitions Tracker

by Kelley Drye & Warren LLP on

Kelley Drye’s Communications Practice Group presents this tracker of active Telephone Consumer Protection Act (“TCPA”) petitions before the Federal Communications Commission (“FCC”). With the recent increase in litigation...more

FDA Releases New Guidance On Menu Labeling Rule

by Fox Rothschild LLP on

The Trump administration is moving forward with an Obama-era initiative requiring certain food establishments to list calorie information on menus and menu boards, including food on display and self-service food. The FDA...more

Cordray to Resign as CFPB Director

by BakerHostetler on

In an email to CFPB staff on Wednesday, Director Richard Cordray announced that he will resign by the end of November. Although it is rumored that Director Cordray will run for governor of Ohio, he did not specify his future...more

The State AG Report Weekly Update

by Cozen O'Connor on

AG Elections- Democrat Justin Nelson Launches Campaign for Texas Attorney General- Democrat Justin Nelson declared his candidacy for Texas AG seeking to unseat incumbent Republican AG Ken Paxton, who is running for...more

A “Surprise” Cosmetic Reform Bill Appears in Congress; Bipartisan Compromise Continues to Be Legislators’ Goal

As we predicted earlier this year, Congress is making moves toward enacting cosmetics reform legislation in the near future. In late October 2017, Senator Orrin Hatch (R-UT) introduced S. 2003, the “FDA Cosmetic Safety and...more

In Wake of Equifax Breach, Squatters Appear and Are Vanquished

On September 7, Equifax Inc. announced the cyber security breach that could potentially impact 100 million U.S. consumers. In addition to Equifax’s main website, Equifax.com, the company set up a dedicated website —...more

CFPB Director Richard Cordray Resigning

by Hinshaw & Culbertson LLP on

In news that is still breaking, the first and only Consumer Financial Protection Bureau director, Richard Cordray, has announced he will be resigning at the end of this month....more

Financial Services Weekly News - November 2017 #3

by Goodwin on

Editor's Note - A Rare Example of Common Sense From Washington. On November 13, Senate Banking Committee Chairman Mike Crapo (R-Idaho) and four Democratic members of the committee announced an agreement on legislative...more

CFPB News: Supervisory Highlights, Consumer Protection Principles

In the latest roundup of Bureau of Consumer Financial Protection (CFPB or the Bureau) news, the Bureau published another edition of Supervisory Highlights, released nonbinding Consumer Protection Principles and was officially...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Fresh off news of decreased SEC enforcement in the past year and the outgoing FDIC chief’s concerns about weakening regs, we’ve got word that the OCC is dialing back its regulatory bent in an effort to return to its “natural...more

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