Newsletters

04.11.18

As Mulvaney Demands CFPB Changes, Who’s Next to Lead?

With CFPB Acting Director Mick Mulvaney asking Congress to reduce the power of the very Bureau he presently leads, the question becomes this: Who will take the permanent reins at the CFPB, and when will that change occur?


04.11.18

Military Lending Act: May Covered Borrowers Still Purchase GAP Insurance?

Lenders that make loans to service members should pay careful attention to the latest developments in this area.


03.28.18

Regulatory Relief Moves Forward—How Far Will It Go?

Congress is considering some significant regulatory relief for financial institutions, including a rollback of certain provisions of the Dodd-Frank Act. Just how much will depend on a number of factors.


03.28.18

CFPB News: RFIs, Mortgage Servicer Rule, California Court Upholds Judgment

In CFPB news, Mick Mulvaney’s efforts to reshape the Consumer Financial Protection Bureau (CFPB or Bureau) continue apace with more requests for information and improvements to the mortgage servicing rule.


03.15.18

Ninth Circuit: NBA Doesn’t Preempt California Escrow Law

In a ruling that could prove costly to some national banks, the Ninth Circuit has ruled that the National Bank Act (NBA) does not preempt California state law mandating that financial institutions pay borrowers interest on funds held in their escrow accounts.


03.15.18

FTC Settles With Payment and Social Networking Service

The Federal Trade Commission (FTC) entered into a Consent Order with an online payment system company, settling charges that its payment and social networking service violated the Gramm-Leach-Bliley Act (GLBA) and related regulations, as well as Section 5 of the Federal Trade Commission Act ...


03.15.18

New Guidance From SEC, New York’s DFS

Hoping to help covered entities, the Securities and Exchange Commission (SEC) released an update on cybersecurity while New York’s Department of Financial Services (DFS) published guidance for licensed virtual currency businesses in the state.


02.28.18

FTC Halts Mortgage Loan Modification Scam

The Federal Trade Commission (FTC) put a stop to a mortgage loan modification operation, filing suit in Nevada federal court alleging violations of the Mortgage Assistance Relief Services (MARS) Rule and the FTC Act.


02.28.18

OIG Audit Addresses Data Security Concerns at the CFPB

The independent auditor of the Office of Inspector General (OIG) of the Federal Reserve System reported on cybersecurity issues at the Consumer Financial Protection Bureau (CFPB), and the report does not quite fit the picture painted by either advocates or opponents.


02.28.18

Moving Forward With Cryptocurrency Regulation in 2018

Two months into 2018, it feels a little like the calm before a regulatory storm in terms of cryptocurrency regulation.