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  • 09.27.18

    Federal Banking Regulators Join Forces on Supervisory Guidance

    All five federal banking regulators recently issued an interagency statement, explaining the role of supervisory guidance and describing the agencies’ approach to supervisory guidance.

  • 09.27.18

    Eighth Circuit Backs Bank’s Policy of Termination for Disqualifying Convictions

    A bank did not engage in age bias when it terminated an employee after learning that he had a prior conviction that disqualified him from employment, the U.S. Court of Appeals, Eighth Circuit has affirmed.

  • 09.27.18

    Bank Settles Overdraft Fee Class Action for More Than $1.2B

    A California federal court judge signed off on a settlement agreement involving a national bank and a class of customers challenging its overdrawn balance charge fee with recovery north of $1 billion.

  • 09.13.18

    Sixth Circuit: Death, Taxes and TCPA Claims

    A Telephone Consumer Protection Act (TCPA) claim survives the death of the plaintiff, the U.S. Court of Appeals, Sixth Circuit has ruled, declaring the statute is “remedial” in nature and not penal.

  • 08.29.18

    CFPB Updates: MLA Controversy, GLBA Amendment, Settlement, CFPB Constitutionality

    In the latest Bureau of Consumer Financial Protection (CFPB or Bureau) news, the reported halt to Military Lending Act (MLA) examinations has created controversy, an amendment to the Gramm-Leach-Bliley Act (GLBA) annual privacy notice requirements was finalized, and a $14 million settlement was ...

  • 08.29.18

    State Regulators Busy With Fintech Sandbox, Investigation and Settlement

    In state-specific news, Arizona opened its sandbox for fintech play, Lending Club revealed that Massachusetts is following in the footsteps of the Federal Trade Commission (FTC) and the Georgia attorney general reached a $75,000 settlement with a financial institution over unauthorized fees.

  • 08.16.18

    CFPB News: A Settlement, a Loss and More Leadership Fights

    The Bureau of Consumer Financial Protection (CFPB or Bureau) settled with a Minnesota-based bank for $30 million over the marketing and sale of its overdraft practices, and lost its suit against a law firm accused of violating the Consumer Financial Protection Act (CFPA) and Fair Debt Collection ...

  • 08.16.18

    FTC Steers Arizona Auto Dealers Into Court

    In a new complaint filed in Arizona federal court, the Federal Trade Commission (FTC) charged a group of four auto dealers with a host of illegal activities ranging from misrepresenting and omitting key financial terms in advertisements to falsifying information on vehicle financing applications.

  • 08.02.18

    ALJs Could Get Political With New Executive Order

    The new executive order (EO) granting agency chiefs the power to hire administrative law judges (ALJs) according to their own standards—and eliminating the exam and competitive hiring process formerly in place—could turn the position of ALJ into a politicized one, critics of the move ...

  • 07.18.18

    California AG Hits Student Loan Servicer With Lawsuit

    California Attorney General Xavier Becerra announced a lawsuit against Navient Corp. and its subsidiaries on behalf of the estimated 1.5 million borrowers living in the state, alleging misconduct in the servicing and collection of federal student loans.