Strengthening Compliance: Lessons From the OCC's Consent Order With Patriot Bank — Payments Pros – The Payments Law Podcast
Launching a Product Too Soon? Lessons From Recent CFPB Orders — The Consumer Finance Podcast
Navigating CFPB Enforcement: Key Takeaways From the Global Tel Link Consent Order — Payments Pros – The Payments Law Podcast
Will Resiliency Carry the Digital Asset Sector Through 2024: Federal Legislative Developments and OFAC Consent Orders — The Crypto Exchange Podcast
Takeaways for Banks from the CFPB’s Recent Consent Order on Garnishment Orders
A swift and effective response to a consent order is critical to demonstrating your firm’s commitment to complying with regulatory standards. Building a team that ensures all relevant stakeholders are involved and informed,...more
If your firm has been subject to a regulatory enforcement action or received a consent order, responding to a consent order swiftly and strategically is essential. Regulators expect a clear plan that shows your firm...more
Reflecting expected heightened regulatory scrutiny of fintech-bank partnerships, the Federal Deposit Insurance Corporation (FDIC) issued a consent order for a bank that is deep in the bank-fintech sponsorship space over...more
Financial institutions are more regularly dealing with voluntary remediations and public consent order activity due to heightened scrutiny by regulators and changing internal policies. These events can be complex and also...more
The New York Supreme Court (Appellate Division) (“Court”) addressed in a March 3rd Memorandum and Order (“Memorandum”) a challenge to the New York Department of Environmental Conservation’s (“NYDEC”) acceptance of a...more
Investment Bank Fined $400 Million For Failing to Remediate Deficiencies in its Risk Management Systems - On October 7, the Federal Reserve Board and Office of the Comptroller of the Currency issued a consent order...more
In an extraordinary action, with significant ramifications for the financial industry, the Federal Reserve recently announced a series of enforcement actions against Wells Fargo....more
This March the Oregon Department of Environmental Quality (“DEQ”) is launching a pilot program to take a fresh look at long-term institutional and engineering controls implemented at cleanup sites that have received No...more
The CFPB recently issued its third consent order involving a debt collection law firm and appears to be expanding its interpretation of “meaningful involvement”. The order, which was entered against two related debt...more
A recent series of CFPB consent orders should remind the mortgage industry to carefully monitor its advertising practices. The MAP Rule prohibits deceptive and misleading commercial communications regarding any term of any...more
The Consumer Financial Protection Bureau’s most recent supervisory highlights publication featured issues relating to the Fair Credit Reporting Act, loan originator compensation and in-person debt collection that should be on...more
In response to an act of illegal clear-cutting of roughly three acres of a Connecticut state forest, the offending company and the Commissioner of the Department of Energy and Environmental Protection (DEEP) entered into a...more
Yesterday, the Consumer Financial Protection Bureau (“CFPB”) announced a consent order with GE Capital Retail Bank and its subsidiary CareCredit (collectively “CareCredit”) related to what the CFPB alleges were unfair and...more