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Office of the Comptroller of the Currency Settlement Agreements

The Volkov Law Group

Bank of America Hit with $250 Million in Penalties for Account Abuse Practices

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Bank of America joined the club of consumer abusers – Wells Fargo had been the well-established leader of this club and the poster-child for abusive consumer practices.  For years, Bank of America avoided federal...more

Orrick, Herrington & Sutcliffe LLP

OCC reaches $17 million settlement with former executive over account openings

On March 15, the OCC announced a $17 million civil money penalty and prohibition order against a former senior executive who served as head of a national bank’s community banking division for her role in the bank’s incentive...more

Bilzin Sumberg

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

Bilzin Sumberg on

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

Goodwin

Biden Administration Issues Regulatory Freeze On New Agency Rules

Goodwin on

In this Issue. In one of its first acts after being installed on January 20, the Biden Administration issued a regulatory freeze on new agency rules that have been adopted but are not yet effective; in one of its final acts...more

Ballard Spahr LLP

Colorado Settlement Provides a Possible Path Forward for Certain Bank-Fintech Online Lending Partnerships

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We have previously blogged about the lawsuits filed by the Colorado Attorney General against fintechs Avant and Marlette Funding and their partner banks WebBank and Cross River Bank. These lawsuits challenged on Madden and...more

Patterson Belknap Webb & Tyler LLP

Capital One to Pay $80 Million Fine for 2019 Data Security Hack

As we previously reported, Capital One Financial Corporation announced in July 2019 a major data security breach when an individual gained unauthorized access to personal information about Capital One credit card customers. ...more

Robinson+Cole Data Privacy + Security Insider

Capital One Settles with Bank Regulator for $80M for Data Breach

The U.S. Office of the Comptroller of the Currency (OCC) announced this week that it has entered into a Consent Order and fined Capital One $80 million for the data breach the company experienced last year....more

A&O Shearman

Options Clearing Corporation Enters Into Settlements With SEC And CFTC Over Risk Management Policies

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On September 4, 2019, the Securities and Exchange Commission (“SEC”) and the Commodity Futures Trading Commission (“CFTC”) announced they had entered into settlements with Options Clearing Corporation (“OCC”) regarding its...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

The US and China have scheduled two more rounds of high-level trade talks with hopes for an agreement between the economic superpowers by late April, even as China has begun to push back against some of the US’s major...more

Ballard Spahr LLP

Parties seek preliminary approval of class action settlement in Madden case

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The parties in Madden v. Midland Funding, LLC. have filed a joint motion with the New York federal district court seeking preliminary approval of a class settlement....more

Goodwin

Financial Services Weekly News - September 2016 #2

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Editor's Note - In this edition. The NYDFS proposed a cybersecurity regulation governing New York-chartered banks and insurance companies, the OCC released its bank supervision priorities in its annual supervision...more

Goodwin

Financial Services Weekly News - May 2016

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Regulatory Developments - CFPB Responds to Industry Concerns on Know Before You Owe Rule - On April 28, the CFPB issued a letter to banking and industry groups in response to an inquiry by the Mortgage Bankers...more

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