• 03.25.20

    Feds, States Offer Guidance on Loan Modifications

    Aiming to encourage financial institutions to accommodate borrowers affected by COVID-19, federal and state regulators issued an interagency statement on loan modifications.

  • 03.19.20

    Financial Institution Regulators Promulgate Extensive Guidance on COVID-19

    While the government currently responds to the changing landscape posed by the COVID-19 virus, federal financial institution regulators are moving quickly to address multiple areas of concern posed by these unprecedented developments.

  • 03.11.20

    Expansion of OFAC Sanctions Jurisdiction Impacting Non-US Businesses

    In connection with a settlement with a Swiss company, the Office of Foreign Assets Control (OFAC) has extended its reach in an important development for foreign businesses which may utilize software or hardware originating from the United States.

  • 02.27.20

    CFPB: Debt Collectors, Consumers Receive Clarity on Time-Barred Debt

    Proposing a specific limit on debt collectors but also providing a safe harbor for compliance, the Consumer Financial Protection Bureau (CFPB) has issued proposed regulations that would allow debt collectors to contact consumers about time-barred debt as long as the collectors disclose, in the ...

  • 02.27.20

    Fair Lending: CFPB Agrees to Restart Women- and Minority-Owned Business Data Collection

    In a settlement with a consumer advocacy group on a significant fair lending issue, the Consumer Financial Protection Bureau (CFPB) has agreed to restart long-stalled efforts to gather statutorily mandated data on lending to women- and minority-owned businesses.     

  • 02.19.20

    Securitization Vehicles Win Madden Victory

    In one of two closely watched New York class actions asserting usury claims against national bank securitization vehicles based on the Second Circuit’s decision in Madden v. Midland Funding, 786 F.3d 246 (2d Cir. 2015), a federal magistrate judge has recommended dismissal based on federal ...

  • 02.19.20

    Regulators Crack Down On Credit Repair Companies

    Regulators are keeping a close eye on credit repair companies as evidenced by a pair of new lawsuits filed by the Illinois attorney general and a separate action brought by the Federal Trade Commission (FTC).

  • 02.05.20

    Arbitration: Will U.S. Supreme Court Step In to Solve California’s McGill Problem?

    It now looks as though the Supreme Court is ready to receive, and we think grant, a petition for writ of certiorari in Blair v. Rent-A-Center (and related cases) that could spell doom for California’s McGill rule under which arbitration agreements are enforceable only if they exclude court ...

  • 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.

  • 12.18.19

    DOJ Clarifies FCPA Corporate Enforcement Policy

    In the latest update to the Department of Justice’s (DOJ) Foreign Corrupt Practices Act (FCPA) Corporate Enforcement Policy, the agency formalized prior guidance as to how companies can voluntarily disclose information in order to receive leniency.