• 07.28.17

    Is the Party Over? SEC Concludes Cryptocurrency Offering Required Registration

    In an investigative report and investor bulletin, the SEC concludes that offers and sales of cryptocurrency coins and tokens may be subject to federal securities laws.

  • 07.27.17

    SCOTUS Limits Reach of Fair Debt Collection Practices Act

    In a unanimous decision, the Supreme Court narrowly interpreted “debt collector” under the Fair Debt Collection Practices Act to exclude debt purchasers engaging in collection efforts for their own accounts.

  • 07.20.17

    Payday Lenders’ Operation Choke Point Challenge Survives Dismissal

    Two new Consumer Financial Protection Bureau (CFPB) reports provide important insights into the CFPB’s and state regulators’ latest activities and enforcement targets.

  • 07.10.17

    Treasury Spends Ink on Regulatory Changes

    The Treasury Department, in the first of four reports to President Trump detailing its review of financial regulations and its recommendations about potential changes to the depository system, proposed major changes in the Consumer Financial Protection Bureau (CFPB) structure as well as a ...

  • 07.10.17

    Financial Services Law—CFPB Bans Most Consumer Arbitrations

    Today, and to no one’s surprise, the Consumer Financial Protection Bureau (CFPB) announced a final rule that prevents banks and other covered providers of specified consumer financial products from incorporating or enforcing predispute mandatory arbitration to the extent that the clause bars ...

  • 06.22.17

    Supreme Court: FDCPA Doesn’t Cover Owned Debt

    A bank or other person may collect debts that it purchased for its own account without triggering the statutory requirements of the Fair Debt Collection Practices Act, a unanimous Supreme Court recently ruled.

  • 06.08.17

    California Court Upholds CFPB’s Constitutionality, Request for CID

    Taking the opposite approach from recent decisions of the U.S. Court of Appeals for the D.C. Circuit, a California federal court upheld the constitutionality of the Consumer Financial Protection Bureau while also ordering the defendant to comply with a civil investigative demand issued by the ...

  • 05.25.17

    Curry Defends OCC's Fintech Charter, New York's DFS Sues

    Stepping down as the leader of the Office of the Comptroller of the Currency (OCC), Thomas J. Curry highlighted the efforts of the agency to encourage financial innovation, particularly the agency's decision to grant fintech charters, as another lawsuit was filed challenging those charters.

  • 05.12.17

    CSBS Sues OCC Over Fintech Charters

    An organization of state banking regulators hit the Office of the Comptroller of the Currency with a lawsuit, claiming the federal agency’s plan to issue fintech charters exceeds its authority.

  • 04.13.17

    $3M Penalty for Credit Reporting Agency in CFPB Action

    A major credit bureau and its subsidiaries will pay a civil penalty of $3 million, revise how it represents how the credit scores it markets to consumers are used, and put in place changes in its compliance management system in a settlement with the Consumer Financial Protection Bureau (CFPB or ...

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