• 07.29.20

    New York Legislature Passes Bill Requiring Commercial Finance Disclosures

    New York may soon be joining California in requiring consumer-like disclosures on commercial financing transactions.

  • 05.14.20

    CFPB News: Bureau Issues More Pandemic Guidance

    As the profound impacts of COVID-19 become ever clearer, the Consumer Financial Protection Bureau (CFPB) continues its recent increase in activity in this space with a new statement and set of frequently asked questions (FAQs), outlining the responsibility of certain financial firms during the ...

  • 02.05.20

    Regulators to Major Online Payments Platform: Fix Your Charity Disclosures

    Twenty-three state regulators have now reached a deal with a prominent online payments processor to address that company’s insufficient disclosures on its platform.

  • 01.14.20

    CFPB 2019 Year in Review and What to Expect in 2020

    The Consumer Financial Protection Bureau (CFPB or Bureau) had an active 2019, and we review the most significant stories here. Likewise, we discuss the likely major developments expected in 2020, leading with the upcoming Supreme Court battle over CFPB constitutionality.

  • 12.24.19

    PayPal Hits CFPB With Lawsuit Over Prepaid Rule

    PayPal, Inc., filed suit against the Consumer Financial Protection Bureau (CFPB) recently, challenging the Prepaid Accounts Under the Electronic Fund Transfer Act (Regulation E) and the Truth in Lending Act (Regulation Z) Rules as a violation of its First Amendment rights.  

  • 12.24.19

    FDIC Proposes to Update Brokered Deposits Regs

    In a notice of proposed rulemaking (NPRM), the Federal Deposit Insurance Corporation (FDIC) announced its plan to update its brokered deposits regulations.

  • 08.28.19

    Federal Reserve Warns of D&O Policy Exclusion Concerns

    In a new letter to all financial institutions supervised by the Board of Governors of the Federal Reserve System, the Federal Reserve cautioned directors and officers about the potential limitations of director and officer (D&O) liability insurance policies.

  • 08.28.19

    Payroll Advance Industry in Regulators’ Crosshairs

    The payroll advance industry is the subject of a newly announced multistate investigation seeking information to enable regulators to determine whether there is unlawful lending by online companies engaged in this business.

  • 08.14.19

    Payment Processor Faces Joint Federal, State Action

    The Federal Trade Commission (FTC) and the Ohio attorney general have sued a payment processor arising from activities that allegedly enabled its merchant customers to defraud consumers.

  • 06.19.19

    Retailer Wins Lawsuit Against Its Merchant Processor

    Are assessments from the credit card networks damages that a merchant should be liable for under its merchant agreement?

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