• 11.30.17

    CFPB Hits Debt Settlement Services Provider With Lawsuit

    The Bureau of Consumer Financial Protection (CFPB or Bureau) has filed suit against the largest debt settlement services provider in the country, accusing the California-based entity of violating Dodd-Frank and the Telemarketing Sales Rule by deceiving consumers about its services.

  • 11.30.17

    Deceptive Marketing Practices Cost Bank $5M

    A state-chartered bank based in Missouri must pay $5 million pursuant to a Consent Order with the Board of Governors of the Federal Reserve System resulting from charges of deceptive marketing practices.

  • 11.30.17

    Disclosure Failures Result in New York AG Action

    A credit card servicer and marketer will refund the initial $125 fee it charged to each of hundreds of New Yorkers as part of an agreement with the state’s attorney general.

  • 11.30.17

    Noreika Weighs In on Separation of Banking and Commerce

    In his last remarks as Acting Comptroller of the Office of the Comptroller of the Currency (OCC), Keith A. Noreika took on the “taboo” topic of removing the separation between banking and commerce.

  • 11.30.17

    Texas Bank Faces $2M Fine From FinCEN

    The Financial Crimes Enforcement Network (FinCEN) hit a Texas bank with a $2 million Assessment of Civil Money Penalty for Bank Secrecy Act and anti-money laundering (BSA/AML) violations of Section 312 of the USA PATRIOT Act related to a correspondent relationship with a Mexican bank.

  • 11.30.17

    Battle of Acting Directors: Round One to Mulvaney

    Earlier this week, a federal judge refused to grant a temporary restraining order preventing Mick Mulvaney from assuming the reins of the Consumer Financial Protection Bureau (CFPB) as acting director.

  • 11.21.17

    Is the Party Over? The SEC Investigates Cryptocurrency Offerings

    The U.S. Securities and Exchange Commission has released an investigative report with important implications for issuers and sponsors of initial coin offerings and token sales that raise funds for cryptocurrency ventures.

  • 11.21.17

    OCC’s Otting Confirmed: Another Former OneWest Executive Takes Reins

    On a largely party-line vote, the Senate has confirmed former OneWest president Joseph Otting as Comptroller of the Currency.

  • 11.21.17

    SEC Provides Greater Deference to Public Company Boards

    On Nov. 1, 2017, the Securities and Exchange Commission (SEC) issued  Staff Legal Bulletin No. 14I(CF), which articulates important interpretive guidance relating to shareholder proposals submitted to public companies for inclusion in proxy statements.

  • 11.21.17

    Trump’s CFPB Pick: Major Impact for Industry and Consumers?

    If recent media reports are accurate, the president intends to name current Office of Management and Budget (OMB) Director Mick Mulvaney as acting director of the Consumer Financial Protection Bureau (CFPB).