Newsletters

04.24.19

California, New York Increase Student Loan Servicer Oversight

Student loan servicers should prepare for heightened regulation with the passage of a new law in New York and new regulations in effect in California.


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 ...


04.24.19

FDIC Reinforces Guidance on Technology Service Provider Relationships

The Federal Deposit Insurance Corporation (FDIC) just reiterated its guidance on managing risks in technology service provider (TSP) relationships in a new Financial Institution Letter (FIL).


04.10.19

California’s DBO: New Leader, New Enforcement, New Bureau?

The California Department of Business Oversight (DBO) will likely have a new commissioner in the coming months, with Affirm General Counsel and Chief Compliance Officer Manuel “Manny” Alvarez tapped to take the helm.


04.10.19

New Bill, Supreme Court Case Challenges Administrative Deference

In the latest attack on administrative deference, Sen. Ben Sasse (R-Neb.) opted for a frontal challenge to Chevron deference by introducing the Separation of Powers Restoration Act.


04.10.19

New Jersey Outlaws Bans on Cash

New Jersey has officially banned cashless establishments, prohibiting merchants from requiring customers to pay by card or refusing to accept cash.


04.10.19

CFPB News: Advisory Committee Changes, Constitutionality Hearing

What’s new at the Consumer Financial Protection Bureau (CFPB or Bureau)?


03.27.19

FTC Proposes Changes for Safeguards, Privacy Rule

In a major development for nonbank providers of financial products and services, the Federal Trade Commission (FTC) issued a notice of proposed rulemaking that would amend its Safeguards Rule and its Privacy Rule, each promulgated under the Gramm-Leach-Bliley Act (GLBA).