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Vacated Consumer Financial Products Financial Services Industry

Troutman Pepper Locke

Townstone Case Twist: Federal District Court Stands Firm on Redlining Settlement Amid CFPB Controversy

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On June 12, the U.S. District Court for the Northern District of Illinois denied the joint motion by the Consumer Financial Protection Bureau (CFPB or Bureau) and Townstone Financial, Inc. to vacate the Stipulated Final...more

Troutman Pepper Locke

CFPB Abandons Credit Card Late Fee Rule

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The Consumer Financial Protection Bureau (CFPB or Bureau) agreed to vacate its controversial credit card late fee rule in a joint motion for entry of consent judgment filed in Chamber of Commerce of the United States of...more

Troutman Pepper Locke

CFPB and Townstone Financial Move to Vacate Redlining Settlement Alleging Misconduct Under Former CFPB Director

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In a surprising turn of events, the Consumer Financial Protection Bureau (CFPB or Bureau) and Townstone Financial, Inc. (Townstone) have jointly moved to vacate the Stipulated Final Judgment and Order previously entered in...more

Ballard Spahr LLP

CFPB seeking to reverse Townstone settlement, saying bureau ‘abused its power’

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Saying that the bureau under the Biden Administration abused its power, the CFPB is seeking to reverse its settlement with Townstone Financial....more

Freiberger Haber LLP

Vacating a Recorded Satisfaction of Mortgage

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Generally, folks borrow money to purchase real property.  Such loans are typically secured by a mortgage on the property being purchased.  The mortgage, when filed with the clerk of the county in which the property is...more

Seyfarth Shaw LLP

DOL Fiduciary Rule Officially Dead

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For several years now we’ve been keeping you updated on the long and winding road of the Department of Labor’s (“DOL”) Fiduciary Rule....more

Skadden, Arps, Slate, Meagher & Flom LLP

Fifth Circuit Mandate Officially Ends DOL Fiduciary Rule

On June 21, 2018, the U.S. Court of Appeals for the Fifth Circuit issued its order, or mandate, putting into effect its earlier decision to vacate the Department of Labor’s (DOL) conflict of interest regulation (the fiduciary...more

Robinson+Cole ERISA Claim Defense Blog

Fifth Circuit Reaffirms Decision to Vacate Fiduciary Rule

The Department of Labor’s (“DOL”) conflict of interest rule, informally coined the “fiduciary rule,” sparked much debate when the regulations were proposed in 2015, and finalized in 2016, to expand the definition of fiduciary...more

Seyfarth Shaw LLP

DOL Fiduciary Advice Rule Vacated By The Fifth Circuit

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On March 15, 2018, in Chamber of Commerce of the U.S.A., et al. v. U.S. Department of Labor, the Court of Appeals for the Fifth Circuit invalidated the Department of Labor’s (“DOL”) new investment advice fiduciary regulation...more

Troutman Pepper Locke

Fifth Circuit Vacates Fiduciary Rule, Creating Circuit Split; Headed to Supreme Court?

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On March 15, in Chamber of Commerce v. U.S. Department of Labor, No. 17-10238 (5th Cir. March 15, 2018), the Fifth Circuit Court of Appeals struck down the Department of Labor’s (DOL’s) fiduciary rule in a 2-1 decision. ...more

Burr & Forman

Fifth Circuit Vacates DOL Fiduciary Rule

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It was the Ides of March for the Obama Administration’s “fiduciary duty rule” that sought to remake much of nation’s financial markets by back-door regulation of anyone dealing with IRA investors. The US Fifth Circuit...more

Ballard Spahr LLP

Fifth Circuit Strikes Down DOL Investment Advice Fiduciary Rules

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The Fifth Circuit on March 15 vacated U.S. Department of Labor (DOL) regulations that redefined the circumstances in which a person who provides investment advice in connection with a retirement plan or individual retirement...more

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