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Statutory Authority Financial Services Industry

Eversheds Sutherland (US) LLP

Dual registrant regulatory roundup - July 2024

Welcome to the Regulatory Roundup. Each month, Eversheds Sutherland Investment Services attorneys review significant regulatory developments (including notable rulemakings and guidance from securities regulators) from the...more

Ballard Spahr LLP

CFPB encourages New York to ban unfair or abusive conduct

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On March 19, 2024, the Consumer Financial Protection Bureau (“CFPB”) published a blog touting letters it has sent to New York Governor Kathy Hochul, New York State Senate leaders, and New York State Assembly leaders to...more

Goodwin

Chamber of Commerce Sues CFPB To Eliminate or Enjoin $8 Late Fee Cap

Goodwin on

Last week, the U.S. Chamber of Commerce (Chamber) joined five other trade associations to sue the Consumer Financial Protection Bureau (CFPB) and its director Rohit Chopra in Texas Federal District Court, seeking a court...more

Ballard Spahr LLP

Consumer Advocates Petition CFPB to Undertake Rulemaking to Prohibit “Pre-dispute” Consumer Arbitration Clauses

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Earlier last week, a group of consumer advocate organizations filed a Petition for Rulemaking with the CFPB that would prohibit the use of pre-dispute arbitration clauses in consumer contracts in favor of arbitration clauses...more

Goodwin

U.S. Chamber of Commerce Wins Summary Judgment in Challenge to CFPB’s Update to Its Examination Manual

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​​​​​​​On September 8, 2023, the United States District Court of the Eastern District of Texas granted plaintiff U.S. Chamber of Commerce’s (the “Chamber”) motion for summary judgment invalidating the Consumer Finance...more

Dorsey & Whitney LLP

The Supreme Court Update - June 30, 2023

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Today, in the last day of the 2022-2023 term, the Supreme Court of the United States issued three decisions: Department of Education v. Brown, No. 22-535; Biden v. Nebraska, No. 22-506: These cases addressed suits...more

King & Spalding

Q4 2019: Latin America Enforcement Review

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In the fourth quarter of 2019, U.S. enforcement authorities sustained efforts to prosecute individuals violating U.S. anticorruption laws in matters related to Latin America, while authorities in Latin America, including in...more

Ballard Spahr LLP

NMLS to Release System Enhancements for MLO Temporary Authority

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The Nationwide Multistate Licensing System & Registry (NMLS) is scheduled to release a system enhancement on November 24, 2019, which will allow qualified mortgage loan originators (MLOs) who are changing employment from a...more

Ballard Spahr LLP

Temporary Authority Update

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Both Virginia and Utah have enacted legislation to permit temporary authority to operate as a mortgage loan originator in their respective states pursuant to the SAFE Act....more

Ballard Spahr LLP

State AGs criticize CFPB plans to end MLA exams

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Thirty state attorneys general, joined by the AGs of the District of Columbia, Puerto Rico, and the Virgin Islands, have sent a letter to CFPB Acting Director Mulvaney “to express our concern about recent reports that the...more

Ballard Spahr LLP

Democratic Senators Urge Mulvaney To Reconsider MLA Supervision Policy Change

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In response to reports that Acting CFPB Director Mick Mulvaney intends to dispense with routine supervisory examinations of creditors for violations of the Military Lending Act (MLA), Senate Democrats sent a joint letter...more

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