On March 16, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) announced a significant expansion of its “anti-discrimination efforts to combat discriminatory practices across the board in consumer finance.” Under...more
3/24/2022
/ Anti-Discrimination Policies ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Credit Discrimination ,
Dodd-Frank ,
ECOA ,
Examination Manual ,
Fair Housing Act (FHA) ,
Financial Services Industry ,
HMDA ,
UDAAP
On June 29, 2020, the Supreme Court issued its opinion in Seila Law LLC v. Consumer Financial Protection Bureau, slip op. No. 19-7. The decision resolves a long-disputed issue regarding the constitutionality of the structure...more
The Board of Governors of the Federal Reserve System (FRB) unveiled a Notice of Proposed Rulemaking (NPRM) seeking comment on proposed revisions to the regulations implementing Section 13 of the Bank Holding Company Act,...more
On July 10, 2017, the Consumer Financial Protection Bureau (CFPB or the Bureau) announced its long-anticipated final rule to prohibit the use of pre-dispute arbitration agreements to block consumer class actions in contracts...more
On June 12, 2017, the U.S. Treasury Department released a 150-page report (the Report) that recommends revamping many of the rules for banks and other financial services firms put in place after the 2008 financial crisis...more
6/22/2017
/ Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Executive Orders ,
Financial CHOICE Act ,
Financial Crisis ,
Financial Regulatory Reform ,
FSOC ,
Stress Tests ,
Trump Administration ,
U.S. Treasury ,
Volcker Rule
On October 11, the D.C. Circuit issued a major decision holding the structure of the Consumer Financial Protection Bureau (CFPB) unconstitutional and sharply limiting the CFPB’s enforcement powers. The decision granted a...more
The pursuit of examinations and enforcement actions by the Consumer Financial Protection Bureau (CFPB) has created new challenges for entities that provide consumer financial products and services. Given the CFPB’s broad...more
6/7/2016
/ Administrative Proceedings ,
Attorney-Client Privilege ,
Automotive Loans ,
Civil Investigation Demand ,
Confidential Supervisory Information ,
Consent Order ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Reporting Agencies ,
Credit Cards ,
Debt Collection ,
Defense Strategies ,
Deposit Accounts ,
Dodd-Frank ,
Enforcement Actions ,
Fair Lending ,
Mortgages ,
Online Marketplace Lending ,
Popular ,
Student Loans ,
UDAAP
In this article we highlight the role played by the Consumer Financial Protection Bureau in regulating small business lending. Broadly speaking, the bureau’s jurisdiction is limited to the marketplace for consumer financial...more
5/23/2016
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Data Collection ,
Disparate Impact ,
Dodd-Frank ,
ECOA ,
Financial Institutions ,
HMDA ,
Online Marketplace Lending ,
Redlining ,
Regulatory Oversight ,
Richard Cordray ,
Small Business ,
UDAAP
On October 15, 2015, the Consumer Financial Protection Bureau (CFPB) issued a final rule to implement amendments to the Home Mortgage Disclosure Act (HMDA) made by the Dodd-Frank Wall Street Reform and Consumer Protection...more
10/23/2015
/ Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Discrimination ,
Dodd-Frank ,
Final Rules ,
HMDA ,
Mortgage Lenders ,
Mortgage Servicers ,
Mortgages ,
Popular ,
Regulation C ,
Reporting Requirements
The Financial Crimes Enforcement Network (FinCEN) has proposed long-expected regulations that would extend anti-money laundering (AML) requirements to federally registered investment advisers (RIA). The August 25, 2015...more
9/4/2015
/ Banking Examinations ,
Banks ,
Broker-Dealer ,
BSA/AML ,
Dodd-Frank ,
Due Diligence ,
Enforcement ,
Financial Institutions ,
FinCEN ,
Industry Examinations ,
Investment Adviser ,
Investment Funds ,
Private Investment Funds ,
Proposed Regulation ,
Public Comment ,
SAR