Compliance into the Weeds: The SEC and Climate Disclosures
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Life Sciences Quarterly (Q3 2019): SEC Enforcement and Class Actions Regarding FDA Communications
Impact of environmental, social and governance agenda on tax
This Week in FCPA-Episode 80, The Last Jedi Edition
Life Sciences Quarterly: A View From Washington: What to Expect From the SEC
Compliance into the Weeds-Episode 39, Disclosure of Ransomware Attacks
On March 8, 2024, the Consumer Financial Protection Bureau (CFPB) announced it was seeking public input on so-called “junk fees” incurred as part of the closing process for residential mortgage loans. The residential...more
On January 29, 2024, the Consumer Financial Protection Bureau (“CFPB”) issued a circular (the “Circular”) detailing what it considers deceptive financial services marketing practices under the Consumer Financial Protection...more
The CFPB recently proposed two rules on its continuing war on so-called junk fees. The first rule, proposed on January 17, target’s bank overdraft programs. Currently, financial institutions that extend overdraft loans...more
The CFPB is shifting its focus to FinTech and nonbank payment systems, circling back to past frontiers. This recent warning echoes the sentiment of former CFPB’s Director, Richard Cordray, focusing heavily on FinTechs and...more
With plaintiff attorneys seeing potential large dollar settlements and verdicts, along with increased regulatory scrutiny, banks need to review their overdraft practices. As noted by the American Bankers Association, banks...more
When an entity shares data outside of its organization, the following questions often arise: Does the FCRA or GLBA (or both) apply to the specific type of data sharing? And how do these laws impact my company’s financial...more
Much has been written about the Buy Now, Pay Later (BNPL) industry in the recent past. Consumers enjoy the payment flexibility and interest-free features of many BNPL products and frequently use them as a substitute payment...more
On January 20, California Attorney General Rob Bonta sent a comment letter to CFPB Director Rohit Chopra in response to a preliminary determination issued by the Bureau in December, which concluded that commercial financial...more
On January 19, the CFPB issued Circular 2023-01 to affirm that companies offering “negative option” subscription services are required to comply with federal consumer financial protection laws. According to the Circular,...more
FDIC Creates New Exceptions for Fintech Companies with Its Final Brokered Deposit Rule - On December 15, 2020, the Federal Deposit Insurance Corporation (FDIC) finalized its updated brokered deposit rule, providing...more
In the News. The Consumer Financial Protection Bureau (CFPB) granted a no-action letter (NAL) regarding a proposed small-dollar credit product and sought comment on the CFPB’s plan to study how consumers locate, comprehend...more
On Thursday, July 2, the Consumer Financial Protection Bureau (CFPB) announced that it plans to publish final debt collection rules in October 2020. The final rules will be the first rules clarifying the nearly 40-year-old...more
On September 10, 2018, the Bureau of Consumer Financial Protection (the “Bureau”) published a notice of proposed policy guidance to create a “Disclosure Sandbox.”...more
On January 25, 2018, the Consumer Financial Protection Bureau (CFPB or “Bureau”) finalized amendments (“2018 Amendments”) to its final Prepaid Accounts Rule (“Final Rule”), which was published in November 2016. The Bureau...more
On August 4, 2017, the Consumer Financial Protection Bureau (CFPB) released four “prototype” model overdraft disclosure forms styled under its “Know Before You Owe” initiatives with a press release. The CFPB said the forms...more
The CFPB’s Ombudsman’s Office has issued its fifth annual report covering the Office’s activities during fiscal year 2016 (October 1, 2015 through September 30, 2016). The role of the Ombudsman’s Office is to assist in the...more
The Federal Trade Commission (FTC) held a workshop last week on the effectiveness of consumer disclosures. Titled “Putting Disclosures to the Test”, the workshop featured a series of presentations on recent academic,...more
On advertisements, websites, and legal documents, disclosures are everywhere. But how do consumers notice, understand, and use disclosures in their decision-making? And how can businesses and advertisers effectively design...more
The CFPB recently issued its 2015 CARD Act report on the consumer credit card market (the “Report”). The Report cites a significant amount of data with respect to the credit card market, including regarding use – e.g., number...more
Since opening its doors for business, behavioral economics has played a central role in the CFPB’s regulatory agenda. Behavioral economists posit that consumers are not rational decision makers and instead have certain...more
Is your financial institution or company subject to the Consumer Financial Protection Bureau’s (CFPB) supervision? If so, take note of a recent bulletin warning supervised entities – both banks and non-banks – about the...more
The CFPB is extending the comment period on its proposed policy statement that would expand the complaint data that it publicly discloses in its Consumer Complaint Database to include “unstructured” complaint narratives. In a...more
The CFPB has proposed a rule to improve information reported about the residential mortgage market. According to the CFPB, the rule would shed more light on consumers’ access to mortgage credit by updating the reporting...more
Industry anticipation continues to grow as the Consumer Financial Protection Bureau (CFPB) announced that its general-purpose reloadable (GPR) prepaid card proposal will now be issued by the end of the summer. Although this...more