Newsletters

11.09.17

Exclusion Precludes Coverage for Bank’s $24M Settlement

In a blow to a bank that settled overdraft litigation for $24 million, the U.S. Court of Appeals, Seventh Circuit affirmed that the financial institution’s liability policy did not provide coverage for the deal.


11.09.17

FTC Launches ‘Game of Loans’ Initiative

Deceptive student loan debt relief scams are the target of a new coordinated federal-state law enforcement initiative led by the Federal Trade Commission (FTC).


10.26.17

Multi-Plaintiff Suit Challenges CFPB’s Arbitration Rule

With no progress in Congress repealing the Consumer Financial Protection Bureau’s (CFPB or Bureau) arbitration rule, a coalition of 18 organizations filed suit in Texas federal court seeking to halt implementation of the prohibition on the use of mandatory predispute arbitration clauses.


10.26.17

Equifax Fallout Continues, Spreads Across Industry—and Pond

The fallout from the Equifax data breach continues, reaching other credit reporting companies and all the way across the Atlantic Ocean.


10.26.17

CFPB Tweaks Rules for Mortgage Servicer Communications

The Consumer Financial Protection Bureau (CFPB or Bureau) released a new interim final rule intended to clarify how mortgage servicers can communicate with borrowers at risk of foreclosure, as well as a proposed rule about bankruptcy communications.


10.26.17

Regulators Take the Wheel in Auto Financing Actions

From the Department of Justice (DOJ) to the Massachusetts attorney general, auto financing has been the subject of several recent actions.


10.26.17

Cybersecurity Among Focus for OCC Supervision in 2018

What will the Office of the Comptroller of the Currency (OCC) focus on in 2018?


10.25.17

The CFPB Arbitration Rule Is Dead, or Is It?

By now you’ve heard that the Senate has killed the Consumer Financial Protection Bureau’s (CFPB’s) arbitration rule.


10.12.17

Cybersecurity, Data Breaches Continue to Make Headlines

Cybersecurity continues to make headlines in the financial services industry, from the recent announcement that the Securities and Exchange Commission (SEC) was targeted by hackers to final approval of the settlement in a class action brought by financial institutions against Home Depot after a ...


10.12.17

CFPB News: Recent Updates and Actions

It has been a particularly busy period for the Consumer Financial Protection Bureau (CFPB), which issued a proposed rule governing payday lending, received a mixed decision from a California federal court judge in a lawsuit against a company offering a biweekly payment program, modified the Equal ...