Newsletters

06.19.19

CFPB News: Kraninger Affirms CIDs, Payday Rule Delayed

Director Kathy Kraninger is in the news, taking a hard line on civil investigative demands (CIDs), backing two new settlements and issuing a further delay of the payday loan rule.


06.19.19

California Arbitration Decision Highlights McGill Risk

A recent arbitration decision by a federal district court in San Diego highlights the risk posed by the California Supreme Court’s 2017 decision in McGill v. Citibank.


06.06.19

New Trend in Legislation: Interest Rate Caps

From California to Congress, new legislative proposals are attempting to crack down on interest rates.


05.22.19

CFPB News: Donoghue Resigns, Enforcement Efforts, Constitutionality Affirmed

In Consumer Financial Protection Bureau (CFPB or Bureau) news, there’s a major shakeup at the Bureau after Kristen Donoghue, a former Richard Cordray appointee who joined the CFPB back in 2011, resigned as the Bureau’s enforcement chief.


05.22.19

New DFS Office To Tackle Consumer Protection

There’s yet another state CFPB, and this one could be significant. Joining Pennsylvania’s earlier effort, the New York Department of Financial Services (DFS) has just created a new office, the Consumer Protection and Financial Enforcement Division.


05.08.19

Passive-Aggressive: Federal Reserve Seeks Comment on Bank Control

Seeking to increase the transparency of the rules for determining control of a banking organization, the Federal Reserve Board of Governors (Board) asked for public comment on a new proposal.


04.24.19

CFPB: New CID Policy, Kraninger FFIEC Slot, Other Musings

In Consumer Financial Protection Bureau (CFPB or Bureau) news, the Bureau announced a major change regarding civil investigative demands (CIDs) and Director Kathy Kraninger became the first CFPB director to serve as chairperson of the interagency Federal Financial Institutions Examination Council ...


04.24.19

State AGs Keep Busy With Enforcement Actions

Continuing to fill in gaps at the federal level, state attorneys general are keeping busy with enforcement actions, and on issues that might have received more CFPB attention under the old Cordray regime.


04.24.19

What’s Old Is New: FTC Settles With Online Lender

An online lender recently agreed to pay a $3.85 million settlement to the Federal Trade Commission (FTC) for allegedly engaging in deceptive and unfair acts and practices relating to its consumer loans.


04.24.19

Arbitration: Supreme Court Deals a Near Death Blow to Class Action Arbitration

The Supreme Court, in a sharply-divided 5-4 ruling issued on April 24, ruled that nothing in the Federal Arbitration Act allows courts to compel class action arbitration even if the contract is ambiguous in that regard, and notwithstanding rules that direct courts to interpret such ambiguities most ...