Newsletters

07.31.19

Ninth Circuit Affirms FTC Act Violations Against Alleged Mortgage Relief Scammers

The Ninth Circuit refused to allow various defendants to escape liability for a variety of alleged mortgage relief scams, affirming judgments based on violations of the FTC Act and the federal Mortgage Assistance Relief Services (MARS) Rule.  


07.31.19

California Appellate Court OKs Prejudgment Interest After Charge-off

Adding prejudgment interest to a consumer’s debt from the date of charge-off—and reporting the account with that interest to multiple credit bureaus—did not violate the Rosenthal Fair Debt Collection Practice Act, a California appellate panel has ruled.


07.31.19

Regulators Reveal “Secret Sauce” on BSA/AML Exams

Shining the light on previously undisclosed examination practices, federal banking regulators and other entities issued an important joint statement addressing their risk-focused approach to BSA/AML examinations.


07.31.19

Critical Insights Into the State and Federal Consumer Finance Enforcement Agenda

Insider offers critical insights into the consumer finance enforcement agenda. Read on for details.


07.17.19

Ninth Circuit Follows McGill Decision, Cementing Arbitration Risk in California

The U.S. Court of Appeals for the Ninth Circuit has passed on an opportunity to fix the so-called McGill problem in California, affirming the denial of a motion to compel arbitration of a claim for public injunctive relief in Blair v. Rent-A-Center and two companion cases. 


07.17.19

Fintech News: State Licensing Streamlined, More States Step into the Sandbox

The Conference of State Bank Supervisors (CSBS) recently announced that 23 states have now agreed to participate in a streamlined licensing process under which nonbanks requiring a license to operate under state law can benefit from the cooperative efforts of the state regulators in approval of ...


07.17.19

FDIC Focuses on Minority Depository Institutions

Shining a light on minority depository institutions (MDIs), in June 2019, the Federal Deposit Insurance Corporation (FDIC) hosted the 2019 Interagency Minority Depository Institution and CDFI Bank Conference in partnership with the Federal Reserve Board of Governors and the Office of the ...


07.17.19

CFPB News: New Rules, AG Overdraft Comments, OIG Report

The Consumer Financial Protection Bureau (CFPB or Bureau) turned its focus to rulemaking, with the Bureau issuing a final rule amending Regulation CC and extending the comment period on the advanced notice of proposed rulemaking (ANPR) on the Home Mortgage Disclosure Act (HMDA).


07.17.19

Task Force Considers Fintech Regulation

The newly formed House Financial Services Committee’s Task Force on Financial Technology (Committee) recently held its first hearing, and it included some interesting perspectives from both U.S. and U.K. regulators.


07.17.19

Eighth Circuit Tackles Unconstitutional Damages, Personal Liability and Standing in Single TCPA Case

Former Governor Mike Huckabee figured heavily in a major TCPA appeals case, and the ruling offers up some important lessons for companies engaged in telemarketing activities.