Newsletters

10.30.19

Will the Supreme Court Decimate the CFPB? Latest Developments

Even though the Supreme Court generally moves relatively slowly, the Court’s recent decision to grant certiorari in the Seila Law v. CFPB case is forcing courts and litigants to adjust quickly.


10.30.19

California DBO Offers Guidance on Cannabis Banking

The Cannabis Banking Guidance from California’s Department of Business Oversight (DBO) offers California-chartered financial institutions serving cannabis-related businesses assurances that the DBO will not bring enforcement actions based solely on such relationships.


10.30.19

Executive Orders Limit Agency Guidance

Two executive orders recently signed by President Donald Trump will now require that federal agencies publish all informal guidance and limit its use in enforcement actions.


10.30.19

California Goes Public With Banks

One of the many bills enacted into law during the California Legislature’s end-of-session rush was Assembly Bill 857, which authorized the creation of “public banks” to support local economies and community development and address infrastructure and housing needs for ...


10.16.19

Bank (Finally) Gets Plaintiffs’ Claims Sent to Individual Arbitration

A major national bank won a motion to dismiss in a multidistrict litigation challenging its overdraft fee practices, sending the individual plaintiffs’ disputes to arbitration pursuant to customer account or deposit agreements.


09.25.19

Déjà Vu: D.C. Court Dismisses Challenge to OCC’s Fintech Charter

In the latest battle over the Office of the Comptroller of the Currency’s (OCC’s) plan to issue special purpose national bank (SPNB) charters, a D.C. federal judge has for a second time dismissed a lawsuit brought by the Conference of State Bank Supervisors (CSBS).


09.25.19

Eleventh Circuit Tosses Online Lender’s Forum Selection, Class Waiver Clauses

Siding with six consumers who filed suit asserting violations of state usury laws against online lenders, the U.S. Court of Appeals for the Eleventh Circuit has affirmed a decision by the U.S. District Court for the Southern District of Georgia, holding that the enforcement of forum selection ...


09.25.19

Class Actions: Ninth Circuit Panel Allows Judge to Prohibit Precertification Settlement Negotiations

Taking the cautious view of a district court’s judicial discretion, the U.S. Court of Appeals for the Ninth Circuit declined to grant a writ of mandamus seeking to overturn a case management order that prohibited precertification class settlement discussions.


09.25.19

State AGs to SEC: Your "Best" is Not Good Enough

Led by New York Attorney General Letitia James, a group of eight state AGs filed suit against the Securities and Exchange Commission (SEC), challenging the agency’s recently enacted Regulation BI (Best Interest).


09.12.19

Credit Union News: Favorable NCUA Decision on Final Rule, Hemp Gets Go-Ahead

In a major win for credit unions, the D.C. Circuit has largely reversed a ruling that would have prevented credit unions from promulgating rules greatly expanding the field of membership, that is, the persons eligible to join a specific credit union.