News & Analysis as of

Memorandum of Understanding Consumer Financial Products

Wiley Rein LLP

Wiley Consumer Protection Download (October 2, 2023)

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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

Hogan Lovells

Financial institutions general regulatory news, April 2021

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UK-EU MoU on regulatory cooperation in financial services - HM Treasury has announced that technical discussions on the text of the memorandum of understanding (MoU) on UK-EU regulatory cooperation in financial services have...more

Wiley Rein LLP

Wiley Consumer Protection Download (November 9, 2020)

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Regulatory Announcements - CFPB Issues No Action Letter to Facilitate Consumer Access to Loans. The Consumer Financial Protection Bureau (CFPB) issued a No-Action Letter to Bank of America, N.A. on November 5 regarding...more

Jones Day

Facilitating Transatlantic Fintech Innovation and Cooperation: The New MOU Between the NYSDFS and the French ACPR

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The Situation: From both sides of the Atlantic, United States and French financial authorities are keen to facilitate technology innovations in the financial sector. Beyond having set up dedicated teams to focus on the...more

Ballard Spahr LLP

CFPB and Dept. of Education enter into new MOU on handling complaints; Director Kraninger tells lawmakers negotiations are...

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Last Monday, the CFPB announced that it had entered into a new Memorandum of Understanding with the Department of Education to replace the MOU that was terminated by the ED effective October 1, 2017.  The new MOU, which is...more

Hogan Lovells

HUD and DOJ Signal Easing of FCA Enforcement in FHA Residential Mortgage Lending Through Interagency Memorandum

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On October 28, 2019 the U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Justice (DOJ) released a Memorandum of Understanding (MOU) announcing their joint approach to False Claims Act (FCA)...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

FTC and Veterans Affairs announce MOA on referrals for deceptive advertising, sales or enrollment practices targeting veterans...

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At the end of last week, the Federal Trade Commission (FTC) and the Department of Veterans Affairs (VA) announced that they have entered into a Memorandum of Agreement (MOA) “to provide mutual assistance in the oversight and...more

Ballard Spahr LLP

ED rebuffs Congressional plea to reinstate terminated CFPB MOUs

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The Department of Education (ED) has apparently declined a request by 39 members of Congress to reinstate the Memoranda of Understanding (MOUs) between ED and the CFPB. ...more

Ballard Spahr LLP

ED Rebukes CFPB “Abuse” with Termination of MOUs, Announces Expansion of Internal Oversight

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The Department of Education (ED) recently delivered a letter to the Consumer Financial Protection Bureau (CFPB) providing notice of its intent to terminate the Memoranda of Understanding (MOUs) between the agencies. The...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

Financial Industry Developments - Agencies Publish Study on Banking Activities and Investments under Dodd-Frank - On September 8, 2016, the Board of Governors of the Federal Reserve System, Federal Deposit Insurance...more

Holland & Knight LLP

Highlights from Seminar on Governmental Investigations Involving the Debt Collection Industry

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Holland & Knight and the Association of Credit and Collection Professionals (ACA) hosted a half-day seminar that featured government officials discussing trends and current issues in law enforcement investigations and other...more

Davis Wright Tremaine LLP

CFPB Charts Course for Dodd-Frank Enforcement Coordination with State Financial Regulators

The Consumer Financial Protection Bureau (“CFPB”) and the Conference of State Bank Supervisors recently published a road map for coordination of enforcement powers between the CFPB and state regulators (the “Framework”) over...more

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