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Read need-to-know updates, commentary, and analysis on Elections & Politics issues written by leading professionals.

Democratic lawmakers seek information about reorganization of CFPB Office of Fair Lending

by Ballard Spahr LLP on

A group of Democratic Senators and House members have sent a letter to Mick Mulvaney and Leandra English expressing concern about Mr. Mulvaney’s announcement that he plans to reorganize the CFPB’s Office of Fair Lending...more

Court Dismisses Credit Union’s Challenge to Mulvaney’s Appointment

by Weiner Brodsky Kider PC on

A federal court has dismissed a lawsuit filed by a New York credit union that challenged the President’s appointment of Mick Mulvaney as the Acting Director of the CFPB. The credit union had sought a declaratory judgment...more

Australian Consumer Law update

by DLA Piper on

Late last week the Treasury Laws Amendment (2018 Measures No.3) Bill 2018 (Cth) was introduced to Parliament to increase in the maximum financial penalties for breaches of the Australian Consumer Law, which was one of the key...more

House Passes Bill to Amend TRID Rule Disclosures

by Ballard Spahr LLP on

On February 14, 2018, the United States House of Representatives passed the TRID Improvement Act of 2017, H.R. 3978, by a vote of 245 to 171. The bill would amend the manner in which title insurance premiums are disclosed...more

New York Attorney General Expresses Support for Student Loan Servicing Legislation

by Ballard Spahr LLP on

Earlier this week New York Attorney General Eric Schneiderman sent a letter to select state legislators adding his backing to the creation of a licensing regime in New York for student loan servicing, similar to what has been...more

House passes “Madden fix” bill

by Ballard Spahr LLP on

By a vote of 245-171, the House passed H.R. 3299, the “Madden fix” bill (whose official title is the “Protecting Consumers’ Access to Credit Act of 2017.”) In Madden, the Second Circuit ruled that a nonbank that purchases...more

Window on Washington - Vol. 2, Issue 6

by Clark Hill PLC on

Outlook for This Week in the Nation's Capital - FY18 Appropriations Work Already Underway. Since the passage of the bipartisan budget deal this past Friday, House and Senate Appropriations Committees have already begun...more

Weekly Roundup of Local and Under-the-Radar White Collar News - February 2018 #2

..Two former Greek prime ministers and eight other former ministers implicated in corruption investigation involving Novartis ..Russian hackers known as “Fancy Bear” apparently tricked government contract workers into...more

House Again Passes Legislation to Review Points and Fees

by Ballard Spahr LLP on

On February 8, 2018 the United States House of Representatives passed The Mortgage Choice Act, H.R. 1153, to revise the definition of “points and fees” for purposes of the Regulation Z ability to repay/qualified mortgage...more

Bills introduced directing NY DFS to issue report on online lending

by Ballard Spahr LLP on

Identical bills have been introduced in the New York Assembly (A08938) and Senate (S07294) that would direct the New York Department of Financial Services (DFS) to issue a report on online lending by July 1, 2018....more

Five amicus briefs filed in support of English appeal

by Ballard Spahr LLP on

Five amicus briefs have been filed in the U.S. Court of Appeals for the D.C. Circuit in support of Leandra English. Ms. English has appealed the district court’s denial of her preliminary injunction motion in her action...more

Win Some, Lose Some: Trump Gets A Loss And A Win In The Fight To Control The CFPB

by Seyfarth Shaw LLP on

Seyfarth Synopsis: One court upholds protection of Dodd-Frank limiting the President’s removal authority, while another court stifles a challenge against Mulvaney serving as acting Director of CFPB....more

Oral argument set for April 12 in English preliminary injunction appeal

by Ballard Spahr LLP on

The U.S. Court of Appeals for the D.C. Circuit is scheduled to hear oral argument on April 12, 2018 in Leandra English’s appeal of the district court’s denial of her preliminary injunction motion in her action seeking a...more

Trade & Manufacturing - News of Note - February 2018

by King & Spalding on

Could Looming Virtual Private Network Rule Changes In China Further Stimulate “Reshoring” Of American Manufacturing? - Starting March 31, 2018, China will only allow companies to use Virtual Private Networks (VPNs) from a...more

Court dismisses credit union’s lawsuit challenging Mulvaney’s appointment

by Ballard Spahr LLP on

The U.S. District Court for the Southern District of New York has dismissed for lack of Article III standing the lawsuit filed by a credit union challenging President Trump’s appointment of Mick Mulvaney as CFPB Acting...more

Window on Washington - Vol. 2, Issue 5

by Clark Hill PLC on

Another Shutdown? Congress needs to pass another short-term spending bill by Friday in order to keep the government open, but some House Republicans are against the plan for a fifth continuing resolution that would fund the...more

District court stays proceedings pending outcome of English preliminary injunction appeal; English files opening appeal brief

by Ballard Spahr LLP on

On January 30, 2018, the federal district court hearing Leandra English’s action seeking a declaration that she is the lawful Acting CFPB Director granted the parties joint motion to stay further proceedings pending a...more

House passes bills to facilitate online banking, allow federal savings associations to exercise national bank powers

by Ballard Spahr LLP on

The following bills were passed by the House earlier this week: The “Making Online Banking Initiation Legal and Easy (MOBILE) Act, H.R. 1457. Passed by a vote of 397-8, the MOBILE Act would allow a bank to scan and retain...more

Consumer Financial Protection Bureau Update

A degree of uncertainty hangs over the Consumer Financial Protection Bureau (CFPB) following the November 2017 resignation of its first director, Richard Cordray. On his last day in office, Cordray appointed his chief of...more

House Financial Services Committee to hold Jan. 30 hearing on fintech marketplace

by Ballard Spahr LLP on

On January 30, 2018 at 10 a.m., the Financial Institutions and Consumer Credit Subcommittee of the House Financial Services Committee will hold a hearing, “Examining Opportunities and Challenges in the Financial Technology...more

Window on Washington - Vol. 2, Issue 4

by Clark Hill PLC on

Another Continuing Resolution. Or Two? Within days of passing the CR to reopen the government, multiple Members of Congress expressed the possibility of needing another CR to fund the government after February 8. ...more

White House sends four FTC nominations to Senate

by Ballard Spahr LLP on

On January 25, the White House announced that President Trump had sent the nominations of four individuals to the Senate to serve as FTC commissioners. Three of the nominations, those of Joseph Simons, Rohit Chopra, and Noah...more

Senator Warren Questions CFPB Data Collection Freeze

by Weiner Brodsky Kider PC on

In a letter to Leandra English and Mick Mulvaney earlier this month, Senator Elizabeth Warren questioned Mr. Mulvaney’s announcement ordering a freeze on the CFPB’s collection of personally identifiable information (PII)...more

D.C. Circuit Court Confirms Mulvaney’s Appointment as Acting Director of the CFPB

by Weiner Brodsky Kider PC on

The U.S. District Court for D.C. has again ruled that President Trump had the authority to appoint an acting Director to the CFPB upon the resignation of Richard Cordray under the authority of the Federal Vacancies Reform Act...more

Acting Director Mulvaney Announces End to Regulation by Enforcement

by Weiner Brodsky Kider PC on

Acting CFPB Director Mick Mulvaney recently informed CFPB employees that the Bureau will no longer “push the envelope” with regards to enforcement of federal consumer financial statutes, presumably ending what has been...more

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