Last week, the state attorneys general of seven states and the District of Columbia filed suit against the Federal Deposit Insurance Corporation (FDIC) challenging the FDIC’s final rule reaffirming the valid-when-made doctrine…
more
/ Administrative Law, Finance & Banking
EDITOR’S NOTE -
In the words of Willie Wonka: “Wait a minute — strike that, reverse it!” As loyal readers will recall, in our last issue, we tried to stay current in referring to the CFPB by what Mick Mulvaney declared would…
more
/ Alternative Dispute Resolution (ADR), Finance & Banking, Privacy, Consumer Protection
On January 31, 2019, the Consumer Financial Protection Bureau (CFPB or Bureau) published a Request for Information (2019 RFI) regarding the consumer credit card market. In accordance with Section 502(a) of the Credit Card…
more
/ Consumer Protection, Finance & Banking
On January 16, 2019, the Consumer Financial Protection Bureau (CFPB) and the New York Attorney General announced a settlement with a retailer for alleged violations of the Consumer Financial Protection Act of 2010 (CFPA) and the…
more
/ Consumer Protection, Finance & Banking
On January 3, 2019, the Consumer Financial Protection Bureau (CFPB) announced a settlement with a federal savings bank for alleged violations of the Electronic Fund Transfer Act (EFTA) and Regulation E, as well as alleged…
more
/ Consumer Protection, Finance & Banking
On December 13, 2018, the Bureau of Consumer Financial Protection (the “Bureau”) published in the Federal Register a proposed policy (“Proposed Policy”), which would modify its 2016 Policy on No-Action Letters (the “2016…
more
/ Consumer Protection, Finance & Banking
On September 30, 2018, California Governor Jerry Brown signed into law SB 1235 (the Act), which requires disclosures of key terms in connection with certain commercial financing by non-banks and could impact bank/non-bank…
more
/ Business Organizations, Finance & Banking
Yesterday, September 11, 2018, five federal agencies – the Federal Reserve Board, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the Bureau…
more
/ Consumer Protection, Finance & Banking
On August 17, 2018, the Bureau of Consumer Financial Protection (CFPB) published a final rule amending its Regulation P to include an exception to the Gramm-Leach-Bliley Act (GLBA) annual privacy notice obligation. Nearly three…
more
/ Consumer Protection, Finance & Banking
On March 14, 2018, the U.S. Senate passed S. 2155, the “Economic Growth, Regulatory Relief, and Consumer Protection Act.” If enacted into law, S. 2155 would provide modest regulatory relief to regional and community banks, among…
more
/ Finance & Banking
The 2018 Winter Olympics are over. We watched two 17-year-olds win gold medals in sports that didn’t exist when we were 17. The Garlic Girls, with nicknames from their favorite breakfasts, and the U.S. men’s team won medals in…
more
/ Alternative Dispute Resolution (ADR), Consumer Protection, Finance & Banking, Privacy, Science, Computers, & Technology
EDITOR’S NOTE -
The holidays came early for the financial services industry. First, the Senate voted to repeal the CFPB’s rule banning class waivers in arbitration agreements in consumer financial contracts. Then, Richard…
more
/ Administrative Law, Business Organizations, Communications & Media Law, Consumer Protection, Finance & Banking
Following the Equifax security breach, it was reported that the Consumer Financial Protection Bureau (CFPB) started to focus on cardholder transaction controls, such as how they are being offered in the marketplace to aid in…
more
/ Consumer Protection, Finance & Banking
An ILC, or industrial loan company, is a form of bank that can be chartered in Utah, Nevada, and a few other states. ILCs are insured by the FDIC and have most traditional banking powers, but they cannot hold corporate checking…
more
/ Business Organizations, Finance & Banking, Science, Computers, & Technology
The CFPB announced on Wednesday, September 20th, 2017, proposed guidance to limit the Home Mortgage Disclosure Act (HMDA) data it shares publicly. The Bureau’s 2015 HMDA amendments revamped HMDA’s coverage and processes,…
more
/ Consumer Protection, Finance & Banking, Real Estate - Residential, Science, Computers, & Technology
