Newsletters

03.21.23

California DFPI Proposes “Registration” Requirements

On March 17, the California Department of Financial Protection and Innovation (DFPI) proposed its long-awaited registration requirements for certain covered persons under the California Consumer Financial Protection Law (CCFPL).


03.13.23

Top Five Employment Issues Upon a Sudden Bank Failure

The sudden closure of a bank can create a host of ripple effects.


03.10.23

When a Bank Fails: What Does it Mean for Depositors and Borrowers?

The increase in interest rates, and the contraction of the money supply, which is intended to tame inflation, has also had significant negative consequences.


01.23.23

CFPB Lawsuit Against Subprime Auto Lender Seeks To Regulate Through Enforcement

On January 4, 2023, the Consumer Financial Protection Bureau and New York Attorney General filed a complaint in the Southern District of New York against a Michigan-based subprime indirect auto lender accusing it of misrepresenting the true cost of credit and improperly incentivizing dealers to ...


11.21.22

The CFPB’s Fall 2022 Supervisory Highlights—Key Findings and Takeaways

On November 16, 2022, the Consumer Financial Protection Bureau released its Fall 2022 Supervisory Highlights.


11.15.22

What Creditors and Medical Services Providers Need to Know About D.C.’s Amended Debt Collection Law

Creditors and medical services providers should reevaluate their consumer credit agreements and collection practices in light of a recent amendment to Washington, D.C.’s debt collection law, which goes into effect on January 1, 2023.


10.24.22

Lights Out? Fifth Circuit Finds CFPB’s Funding Mechanism Unconstitutional

On October 19, 2022, the Fifth Circuit sent shock waves through the financial world, ruling that the Consumer Financial Protection Bureau’s independent funding structure violates the U.S. Constitution’s Appropriations Clause.


08.17.22

SEC Investigates Possible Brokerage Activities Linked to Token Listings

Following the recent filing of the SEC’s insider trading complaint against a former manager of Coinbase Global, Inc. (“Coinbase”), the SEC is now investigating Coinbase.


08.04.22

SEC Enforcement Case Labels Some Cryptocurrency Tokens as Securities

In the long running question of whether cryptocurrency tokens are securities, the Securities and Exchange Commission has volleyed new claims against a former employee of Coinbase Global, Inc., alleging insider trading of securities listed on the exchange.


07.18.22

California Regulator Proposes Debt Collector Licensing Rules

Months after the California Debt Collection Licensing Act took effect and covered persons were required to submit applications to obtain licenses, the Department of Financial Protection and Innovation has proposed regulations that if adopted will help clarify who may be covered and therefore needed ...