• 08.16.18

    DOJ Expands FCPA Self-Reporting Protections to Successor Companies

    Building on its efforts to encourage self-reporting of Foreign Corrupt Practices Act (FCPA) violations, the Department of Justice (DOJ) announced it will extend protections to voluntary reporting successor companies for preacquisition violations of the target company.

  • 08.16.18

    CFPB News: A Settlement, a Loss and More Leadership Fights

    The Bureau of Consumer Financial Protection (CFPB or Bureau) settled with a Minnesota-based bank for $30 million over the marketing and sale of its overdraft practices, and lost its suit against a law firm accused of violating the Consumer Financial Protection Act (CFPA) and Fair Debt Collection ...

  • 08.16.18

    FTC Steers Arizona Auto Dealers Into Court

    In a new complaint filed in Arizona federal court, the Federal Trade Commission (FTC) charged a group of four auto dealers with a host of illegal activities ranging from misrepresenting and omitting key financial terms in advertisements to falsifying information on vehicle financing applications.

  • 08.16.18

    States Take Action on Bitcoin Online Lending

    State regulators are keeping a close eye on cryptocurrency and digital lending activities, with a cease and desist order involving bitcoin and a new law targeting online lenders.

  • 08.16.18

    Add-Ons Cost Kentucky Bank $4.75M in Federal Reserve Board Action

    A Kentucky bank must pay $4.75 million in restitution pursuant to a consent order with the Board of Governors of the Federal Reserve System in an enforcement action involving add-on products.

  • 08.03.18

    OCC to Accept Fintech Charter Applications. What Happens Next?

    In a decision long anticipated by the fintech industry and opposed by multiple state regulators, on July 31 the Office of the Comptroller of the Currency (OCC) announced it will accept applications for special purpose national bank charters for fintech companies.

  • 08.02.18

    ALJs Could Get Political With New Executive Order

    The new executive order (EO) granting agency chiefs the power to hire administrative law judges (ALJs) according to their own standards—and eliminating the exam and competitive hiring process formerly in place—could turn the position of ALJ into a politicized one, critics of the move ...

  • 08.02.18

    FTC Seeks Greater Data Security, Privacy Authority

    The Federal Trade Commission (FTC) is seeking more power to protect consumers and promote competition. In testimony before Congress, the FTC chair and the associate director for the Division of Privacy and Identity Protection discussed the agency’s enforcement efforts and assured lawmakers ...

  • 08.02.18

    New York’s DFS Report Could Yield Increased Regulation

    Based on a law requiring a survey of online lending in the state, New York’s Department of Financial Services (DFS) issued a report on the methods of operation, lending practices, and risks and benefits of online lending, including recommendations that could lead to additional regulation of ...

  • 08.02.18

    CFPB News: New Innovations Office, ‘Gentler’ Consent Orders

    The kinder, gentler Bureau of Consumer Financial Protection (CFPB) has created a new office focused on emerging technology, announced a pair of consent orders that include minimal financial penalties, and continued to fend off constitutional challenges in federal court.