Newsletters

05.10.23

Colorado’s Attempt to Prevent State Banks From Exporting Home State Interest Rates May Fail

The Colorado legislature proposed HB 23-1229, which would, among other things, opt the state out of Sections 521 to 523 of the Depository Institutions Deregulation and Monetary Control Act, thereby seeking to prevent federally insured state-chartered banks from lending in Colorado at the rates ...


04.11.23

The Next Regulatory Shoe To Drop: Predictions Following Recent Bank Failures

Recent bank failures followed by stresses on other regional banks have resulted in a variety of theories of causes and predictable finger-pointing among various constituencies, followed by proposals for new legislative and regulatory restrictions.


04.04.23

CFPB Issues Final Rule on Small Business Data Collection

On March 30, the Consumer Financial Protection Bureau (CFPB) issued its long-awaited final rule to implement Section 1071 of the Dodd-Frank Act.


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.