Newsletters

08.17.17

Forecast: Abundance of Potential New Rulemaking From the CFPB

After making headlines with its controversial arbitration rule, the embattled Consumer Financial Protection Bureau (CFPB or Bureau) released its rulemaking agenda for the rest of the year, putting financial services companies on notice about forthcoming rules on payday, title, high-cost installment ...


08.17.17

OCC Moves Forward With Fintech Charters, Seeks Lawsuit Dismissal

Holding the line on the future of fintech charters, Acting Comptroller Keith Noreika confirmed that the Office of the Comptroller of the Currency (OCC) will move forward with its plans to issue special purpose charters.


08.17.17

Pay-by-Phone Fees Get a Call From the CFPB

Be careful with pay-by-phone fees, the Consumer Financial Protection Bureau (CFPB or Bureau) cautioned companies in a new compliance bulletin, expressing concern about businesses “potentially misleading consumers about the purpose and amount of certain pay-by-phone fees or keeping them in the ...


08.17.17

Legislation Would Legalize ‘Valid When Made’ Rule

A new bill introduced by Sen. Mark Warner (D-Va.) would overrule the U.S. Court of Appeals, Second Circuit, decision in Madden v. Midland Funding and legalize the “valid when made” rule.


08.17.17

Federal Reserve Considers Changes to Board of Director Expectations

The Board of Governors of the Federal Reserve System requested public comment on a proposal intended to enhance the effectiveness of boards of directors, refocusing the regulator’s supervisory expectations of boards.


08.03.17

DFS Provides Answers to Cybersecurity FAQs

Hoping to provide greater clarity to financial institutions subject to its new cybersecurity requirements, New York’s Department of Financial Services (DFS) published a Frequently Asked Questions (FAQ) document to assist those institutions as the Aug. 28, 2017, compliance deadline looms.


08.03.17

Will the CFPB’s Arbitration Rule Survive?

As previously reported, the Consumer Financial Protection Bureau (CFPB) released its new rule prohibiting the use of mandatory arbitration clauses that foreclose group lawsuits. 


08.03.17

OCC Report Highlights Top Risks for Banks

What are the top risk areas for national banks and federal savings associations?


08.03.17

Regulators Seek Comment on Proposed Jump in Appraisal Threshold

The federal banking regulators proposed an increase in the threshold for commercial real estate transactions requiring an appraisal from the current $250,000 to $400,000, a move the agencies said was in response to “concerns about the time and cost associated with completing real estate ...


08.03.17

Manatt Hosts Panel on Changes, Challenges in Financial Industry

At a recent event hosted by the Washington Business Journal and Manatt, Phelps & Phillips, LLP, partner Joseph Passaic shared his thoughts on issues ranging from the impact of the Dodd-Frank Act to potential changes presented by the pending Financial CHOICE Act to the challenges of financial ...