There are certain nonbank markets that the Consumer Financial Protection Bureau (“CFPB”) has the statutory right to supervise irrespective of size (e.g., mortgage, private education loan, payday lending). Then, there are...more
On January 18, 2021, President Biden appointed Federal Trade Commissioner Rohit Chopra to direct the Consumer Financial Protection Bureau (CFPB). The CFPB was created through the Dodd-Frank Act in 2010 and began to operate...more
Beginning in earnest in 2013, the Federal Trade Commission (“FTC”) began to exert pressure on the payments industry—including payment card processors and independent sales organizations (“ISOs”)—to stamp out businesses...more
Even for companies accustomed to civil lawsuits, when the government is on the other side of the “v,” the prospect of litigation can be intimidating and unfamiliar. In this issue of the Litigation Newsletter, we explore how...more