Newsletters

07.30.15

Treasury Department: Tell Us More About Online Marketplace Lending

Raising the possibility of regulation, the Department of the Treasury has published a Request for Information (RFI) regarding online marketplace lending (also called peer-to-peer lending), seeking public comment on the various business models and products offered by such lenders to both small ...


07.16.15

Regulators Keep Their Feet on the Gas in Actions Against Auto Lenders; NY AG Latest to Bring Suit

The automotive industry is continuing to face heavy scrutiny from regulators.


07.02.15

CFPB Releases Final Rule for Nonbank Auto Lenders Oversight

The Consumer Financial Protection Bureau (CFPB) released its final rule providing oversight of larger participants in the nonbank auto-financing ecosystem, along with examination procedures for covered entities, making the significant expansion of its supervision official.


07.02.15

Ouch! SEC’s Proposed Executive Compensation Clawback Rules Carry a Sting

On July 1, 2015, the Securities and Exchange Commission proposed long-awaited rules to implement provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 mandating any company whose securities are listed on a national securities exchange to adopt and enforce a policy ...


06.18.15

NBA Doesn’t Preempt State Usury Claims Against Assignee of National Bank, Second Circuit Rules

In a potentially troubling ruling, the Second Circuit Court of Appeals refused to find the National Bank Act (NBA) preempted state law usury claims against an assignee of a national bank.


06.17.15

Five on Five: How the Evolution of Fintech Is Changing the Face of Community and Regional Banks

Market share for community and regional banks is slowly being taken away by “nontraditional” providers of financial services, whether they be peer-to-peer lending platforms or other distributors of consumer financial services through the Internet.


06.04.15

PayPal to Pay $25M to Resolve CFPB Allegations of “Abusive” Conduct

In a not-unexpected announcement, the Consumer Financial Protection Bureau (CFPB) revealed a $25 million settlement with PayPal resolving allegations that the company illegally signed consumers up for its online credit product.


05.21.15

CFPB Fines Bank $7.5M for Overdraft Violations, With $49M More in Redress

In its first action targeting overdraft fees, the Consumer Financial Protection Bureau (CFPB) fined Regions Bank $7.5 million for charging customers overdraft fees when they had not chosen to receive overdraft coverage.


05.07.15

California’s DBO Targets Payday Lenders, With a Little Help From Search Engines

At the intersection of Hollywood and Silicon Valley, the California Department of Business Oversight (DBO) announced a new initiative focused on the advertising of payday lenders.


04.30.15

SEC Announces Pay Versus Performance Proposal

On April 29, 2015, the Securities and Exchange Commission announced the long-awaited proposal to disclose the relationship between executive pay and a company’s financial performance (the Pay to Performance Proposal).