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Enforcement Authority UDAAP Financial Services Industry

Venable LLP

California Bill Would Expand DFPI's Power to Police Financial Services Misconduct

Venable LLP on

A new proposal in California, Senate Bill 825 (SB 825), is intended to strengthen the enforcement authority of the state's Department of Financial Protection and Innovation (DFPI) by clarifying that it can take action against...more

Mayer Brown

Third Circuit Holds Securitization Trusts Can Be Subject to CFPB Enforcement Authority

Mayer Brown on

In a long-awaited decision, the Third Circuit handed the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) a victory in the National Collegiate Student Loan Trust litigation that could have wide-reaching implications...more

Ballard Spahr LLP

New CFPB interpretive rule outlines broad state CFPA enforcement authority

Ballard Spahr LLP on

The CFPB has issued a new interpretive rule regarding the authority of state attorneys general and state regulators (State Officials) to enforce the Consumer Financial Protection Act (CFPA). ...more

Morrison & Foerster LLP

CFPB California Style: The California Consumer Financial Protection Law Brings More Providers Of Consumer Financial Products And...

On August 31, 2020, the California legislature passed the California Consumer Financial Protection Law (CCFPL). The law reflects Governor Newsom’s vision of a much more powerful banking agency with new registration authority,...more

Goodwin

CFPB Issues Much Anticipated Guidance Regarding Abusive Acts or Practices

Goodwin on

On January 24, 2020, the Consumer Financial Protection Bureau (CFPB) issued a policy statement setting forth guidelines on how it intends to enforce the “abusiveness” standard under the Dodd-Frank Act.  Section 103(a) of the...more

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