Evolving State Supervision: Issues Arising from State Qualification Standards and 'SAFE' Act Licensing, and Coordination with the CFPB
On April 5, 2017, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray testified before the U.S. House of Representatives Financial Services Committee to present the CFPB’s semi-annual report, which is...more
Regulatory Developments - Cordray Testifies before Senate Banking Committee - On April 7, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray testified before the Senate Banking Committee during the...more
Last week, the D.C. Circuit Court of Appeals reversed a D.C. District Court decision dismissing a bank’s complaint challenging the constitutionality of the CFPB based on lack of standing. The district court had concluded that...more
The issue of the CFPB’s constitutionality reemerged last week in court and Congress. On the judicial front, the U.S. Court of Appeals for the D.C. Circuit, in State National Bank of Big Spring, Texas, et al. v. Lew, et al.,...more
In State National Bank of Big Spring v. Lew, the United States Court of Appeals for the District of Columbia Circuit ruled that the plaintiff had standing to challenge the constitutionality of the CFPB. The Court made quick...more
On Dodd-Frank's third anniversary, it is appropriate to ask if it has all been worth it. Well, I guess it depends on who you ask. If you ask Dodd or Frank, the answer would be yes. If you ask all of the newly hired...more
In This Issue: Leading the Past Week; Legislative Branch; House of Representatives; Executive Branch; Miscellaneous; and Upcoming Hearings. Excerpt from Leading the Past Week - The week began with...more