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American Bar Association (ABA) Consumer Financial Protection Bureau (CFPB)

Ankura

Spring Cleaning in the AI Space: Five Key Takeaways from SEC’s Crackdown on “AI Washing”

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The proliferation of AI-powered offerings in the marketplace and discussions about AI's effect on jobs has become impossible to ignore. According to Goldman Sachs, 36% of S&P 500 companies mentioned AI on their earnings call...more

McDermott Will & Emery

Heard at the 2024 Antitrust Law Section Spring Meeting: Part II

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The American Bar Association Antitrust Law Section’s annual Spring Meeting concluded on April 12. The annual Spring Meeting featured updates from federal, state and international antitrust enforcers and extensive discussion...more

Cadwalader, Wickersham & Taft LLP

Trends in 2024: Consumer Financial Services Edition

Earlier this week, the Consumer Financial Services Law Subcommittee of the American Bar Association’s Business Law Section met in Santa Barbara for its winter meeting. This conference brings together practitioners in consumer...more

Ballard Spahr LLP

Report on the ABA Committee on Consumer Financial Services Program Regarding the Supreme Court Case Poised to Eliminate Chevron...

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Last week, I moderated a live and virtual program at the American Bar Association Business Law Section 2023 Fall Meeting in Chicago. The program was entitled: “U.S. Supreme Court to Revisit Chevron Deference: What the SCOTUS...more

Ballard Spahr LLP

Townstone Mortgage files brief with Seventh Circuit in CFPB appeal from district court ruling that ECOA only applies to applicants

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Townstone Mortgage (Townstone) has filed its brief in the CFPB’s appeal to the U.S. Court of Appeals for the Seventh Circuit from the district court’s decision in the CFPB’s enforcement action against Townstone. In the...more

Troutman Pepper

Texas Federal Court Enjoins CFPB’s Enforcement of its Section 1071 Rule Against Plaintiffs and Their Members Pending U.S. Supreme...

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As discussed here, on April 26, the Texas Bankers Association, the American Bankers Association (ABA), and Rio Bank, McAllen, Texas (Rio Bank) filed a complaint in the U.S. District Court for the Southern District of Texas...more

McDermott Will & Emery

Heard at the 2023 Spring Meeting: Part 2

The American Bar Association’s Antitrust Law Section held its annual Spring Meeting in Washington, DC, on March 29–31, 2023. The Spring Meeting sessions featured updates from federal, state, and international antitrust...more

Hudson Cook, LLP

Current Developments in Bank Deposits and Payment Systems (Spring 2019)

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This survey summarizes several recent developments affecting bank deposits and payment systems. The U.S. department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued new guidance concerning the customer...more

Ballard Spahr LLP

ABA highlights error in cost of credit calculation method used in CFPB’s proposed payday loan rule

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At the meeting earlier this month of the American Bar Association’s Consumer Financial Services Committee in Carlsbad, CA, attention was given to an issue highlighted by the American Bankers Association in the comment letter...more

Ballard Spahr LLP

CFPB possibly amenable to changing its prepaid account rule

Ballard Spahr LLP on

At a panel discussion today on the prepaid account rule, held as part of the meeting of the American Bar Association Committee on Consumer Financial Services in Carlsbad, CA, Kristine Andreassen, the team leader for the CFPB...more

Baker Donelson

Industry May Be Foreshadowing More CFPB Challenges

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In our last newsletter, we discussed the CFPB's proposed amendments to its rule regarding the confidential treatment of information obtained from supervised or regulated entities in connection with the exercise of the...more

Ballard Spahr LLP

Ballard Spahr Partner Dee Spagnuolo Joins CFPB OMWI Director on Panel at ABA Meeting

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Ballard Spahr Partner Dee Spagnuolo joined Director Stuart Ishimaru of the CFPB’s Office of Minority and Women Inclusion and other industry leaders for the panel discussion "Diversity and Dodd-Frank Section 342," on September...more

Ballard Spahr LLP

Ballard Spahr partner Dee Spagnuolo joins CFPB OMWI Director on panel at ABA meeting

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Members of Ballard Spahr’s Consumer Financial Services group recently participated in the American Bar Association Business Law Section Annual Meeting held in Boston, Massachusetts. On September 8, Ballard partner, Dee...more

Ballard Spahr LLP

ABA to sponsor July 20 program on CFPB arbitration proposal

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On July 20, 2016, from 11:00 AM – 12:00 PM ET, the American Bar Association is sponsoring a program, “CFPB’s Proposed Arbitration Ban — What You Need To Know.” The panelists will discuss the pros and cons of the CFPB’s...more

Ballard Spahr LLP

CFPB to hold May 25 webinar for banks on elder financial exploitation

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The American Bankers Association has reported that on May 25, 2016, the CFPB will hold a webinar on how banks and credit unions can protect older consumers from financial exploitation. The webinar will highlight the CFPB’s...more

Ballard Spahr LLP

ABA Consumer Financial Services Panel Highlights the Challenges of Serving Consumers in non-English Languages

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On September 17, I had the opportunity to speak on a panel at the American Bar Association’s Consumer Financial Services Committee meeting in Chicago (which was held as a part of the ABA Business Law Section Annual Meeting),...more

Davis Wright Tremaine LLP

ABA Meeting Sheds Light on UDAAP Priorities and CFPB’s Project Catalyst Initiative

A team of DWT payments lawyers attended the ABA Business Law Section’s spring meeting in San Francisco last week. Adam Maarec from our Washington, DC office moderated a lively roundtable titled A Roadmap for Credit Card...more

Ballard Spahr LLP

CFPB encourages comments on prepaid card proposal

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Kelly Cochran, CFPB Assistant Director for Regulations, addressed the CFPB’s prepaid card rulemaking in a January 12 presentation to the American Bar Association Consumer Financial Services Committee in New Orleans. She...more

Ballard Spahr LLP

ABA makes suggestions to CFPB for overdraft study

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The American Bankers Association has sent a letter to the CFPB responding to the CFPB’s June 2013 white paper reporting its initial data findings on overdraft programs. When the paper was issued, we observed that regulation...more

Ballard Spahr LLP

CFPB proposes new information collections

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The CFPB has proposed a new generic information collection clearance for its consumer complaint system and a new information collection related to its financial literacy initiatives....more

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