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Dodd-Frank Wall Street Reform and Consumer Protection Act Consumer Financial Protection Bureau (CFPB) Department of Justice (DOJ)

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and... more +
The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and includes broad reforms related to many aspects of the financial and banking industry. Notable sections of the Act include stricter regulations of the derivatives market, as well as the Volcker Rule, which restricts the trading practices of FDIC-insured institutions.    less -
Ogletree, Deakins, Nash, Smoak & Stewart,...

CFPB Warns Employee NDAs, Confidentiality Agreements May Violate Whistleblower Laws

On July 24, 2024, the Consumer Financial Protection Bureau (CFPB) issued guidance putting financial regulators and employers on notice that requiring employees to sign broad confidentiality or nondisclosure agreements that...more

Wiley Rein LLP

Wiley Consumer Protection Download (July 2, 2024)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Wiley Rein LLP

Wiley Consumer Protection Download (June 4, 2024)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Alston & Bird

Appraisal Bias Settlement: Potential Roadmap

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What Happened? The lender and consumers reached a settlement in an appraisal bias case, Nathan Connolly and Shani Mott v. Shane Lanham, 20/20 Valuations, LLC, and loanDepot.com, LLC, filed in Maryland District Court, that...more

Troutman Pepper

CFPB and DOJ File Lawsuit Against Housing Developer/Lender Over Targeting Hispanic Borrowers with Alleged False Statements and...

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On December 20, the Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ) filed a complaint in a Texas federal court against Colony Ridge Development, LLC (Colony Ridge), its affiliates, and Loan...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - October 2023 # 5

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Ballard Spahr LLP

FTC issues annual ECOA report to CFPB (UPDATED)

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The FTC recently sent its annual letter to the CFPB reporting on the FTC’s activities related to the Equal Credit Opportunity Act (ECOA) and Regulation B.  The new letter reports on the FTC’s activities in 2022.  The Bureau...more

McGlinchey Stafford

CFPB Update on the Amicus Program and Other Litigation

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The CFPB issued a Fair Lending Report in May of 2022 (“Report”), in which it provided updates on its involvement with ongoing litigation, including its amicus program. The CFPB emphasized that its amicus program provides...more

Bradley Arant Boult Cummings LLP

FTC Updates CFPB on Action in the Fair Lending Space

In early February, the Federal Trade Commission (FTC) sent its annual letter to the Consumer Financial Protection Bureau (CFPB). The letter explained the FTC’s activities related to the Equal Credit Opportunity Act (ECOA) and...more

Wiley Rein LLP

Wiley Consumer Protection Download (March 8, 2022)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Morrison & Foerster LLP

Financial Services Report - Winter 2021

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Welcome to the Financial Services Report, holiday style! Banks and non-banks alike started early this year with additions and changes to their regulator stockings. The Senate confirmed Rohit Chopra as the new CFPB Director....more

ArentFox Schiff

Privacy Update: California Signs New CCPA and Privacy Related Bills into Law

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California Signs New CCPA and Privacy Related Bills into Law - California’s Governor recently signed into law three new bills impacting CCPA and privacy in California, including: AB 335, which exempts from the CCPA and...more

Cozen O'Connor

Memphis Bank Settles Allegations of Discriminating Against Majority-Black and Hispanic Neighborhoods

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The Consumer Financial Protection Bureau (“CFPB”) and U.S. Department of Justice (“DOJ”) reached a settlement with Trustmark National Bank (“Trustmark”) to resolve allegations that it discriminated against Black and Hispanic...more

Bilzin Sumberg

An Opportune Time For Financial Institutions to Review Their Fair Lending Procedures

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At the beginning of his term, President Biden declared that his administration would make it a policy to eliminate “racial bias and other forms of discrimination in all states of home-buying and renting.”...more

Womble Bond Dickinson

President Biden Signs Executive Order Revitalizing Regulatory Oversight of Banks and Encouraging New Consumer-Friendly Portability...

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On July 9, 2021, President Biden signed the wide-ranging Executive Order on Promoting Competition in the American Economy, aimed at increasing competition in all sectors of the American economy, including banking and consumer...more

Skadden, Arps, Slate, Meagher & Flom LLP

Racial Equity and Fair Lending at the Forefront of Consumer Financial Services Enforcement

The Biden administration has moved quickly on its promise to take a more aggressive approach to pursuing actions against consumer financial services companies. Though the administration has implemented some concrete policy...more

Ballard Spahr LLP

SCOTUS enters order dividing and enlarging time for oral argument in Seila Law

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The U.S. Supreme Court entered an order last Friday that divides and enlarges the time for oral argument in Seila Law, which is scheduled for March 3. ...more

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden's 2020 Insights

Despite political and economic uncertainties, markets and deal activity were resilient in 2019, and strong fundamentals remain in place heading into 2020. Companies continue to face a challenging litigation and enforcement...more

Ballard Spahr LLP

Seila Law files motion with SCOTUS to enlarge and divide oral argument time

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Seila Law has filed a motion with the U.S. Supreme Court requesting an enlargement of the time allocated for oral argument (scheduled for March 3) and a division of the time to accommodate “the unusual circumstances for oral...more

Morrison & Foerster LLP

CFPB Decides Not to Defend Constitutionality of Its Leadership Structure

On September 17, 2019, two developments took place with respect to the constitutionality of the structure of the Consumer Financial Protection Bureau (CFPB or Bureau), an issue that has been litigated for several years....more

Ballard Spahr LLP

New plot twist: CFPB agrees its structure is unconstitutional

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The long-running saga that is the litigation over whether the CFPB’s single-director-removable-only-for-cause structure is constitutional took a new twist on Tuesday with the CFPB’s announcement that it has determined that...more

Wilson Sonsini Goodrich & Rosati

Quarterly Regulatory and Legal Update for E-Commerce, E-Banking, and Blockchain

This Quarterly Update highlights certain notable developments during Q1 2019 in consumer-facing areas of e-commerce, e-banking and blockchain. This update is particularly focused on consumer-level regulatory activities of the...more

Ballard Spahr LLP

State National Bank of Big Spring replies to DOJ’s opposition to petition for certiorari; SCOTUS to consider petition at Jan. 11...

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State National Bank of Big Spring (SNB) and the other petitioners for certiorari have filed a reply to the brief filed by the Department of Justice in which, despite agreeing with the petitioners that the CFPB’s structure is...more

Ballard Spahr LLP

DOJ agrees CFPB is unconstitutional but opposes grant of certiorari in State National Bank of Big Spring case

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Despite agreeing on the merits with State National Bank of Big Spring (SNB) and the other petitioners for certiorari that the CFPB’s structure is unconstitutional, the Department of Justice has filed a brief in which it...more

Clark Hill PLC

Window On Washington - Vol. 2, Issue 17

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Outlook for This Week in the Nation's Capital - Recess Week. The House and Senate are in recess this week and will be back on May 7....more

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