• 09.28.17

    Regulators Repudiate Operation Choke Point at Lawmakers’ Request

    Sounding the likely death knell for Operation Choke Point, federal regulators formally repudiated the program after receiving a letter from Republican legislators inviting them to do so.

  • 09.28.17

    Bank Pays $1.5M for Ancillary Products Issues

    The Office of the Comptroller of the Currency (OCC) has levied a $1.5 million civil money penalty against a Missouri-based bank for alleged violations of Section 5 of the Federal Trade Commission Act.

  • 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 ...

  • 08.03.17

    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

    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.

  • 07.20.17

    Payday Lenders’ Operation Choke Point Challenge Survives Dismissal

    Two new Consumer Financial Protection Bureau (CFPB) reports provide important insights into the CFPB’s and state regulators’ latest activities and enforcement targets.

  • 07.20.17

    CFPB Issues Semiannual Report, State-Level Snapshot of Complaints

    Two new Consumer Financial Protection Bureau (CFPB) reports provide important insights into the CFPB’s and state regulators’ latest activities and enforcement targets.

  • 07.10.17

    Treasury Spends Ink on Regulatory Changes

    The Treasury Department, in the first of four reports to President Trump detailing its review of financial regulations and its recommendations about potential changes to the depository system, proposed major changes in the Consumer Financial Protection Bureau (CFPB) structure as well as a ...

  • 07.10.17

    Financial Services Law—CFPB Bans Most Consumer Arbitrations

    Today, and to no one’s surprise, the Consumer Financial Protection Bureau (CFPB) announced a final rule that prevents banks and other covered providers of specified consumer financial products from incorporating or enforcing predispute mandatory arbitration to the extent that the clause bars ...

  • 06.08.17

    California Court Upholds CFPB’s Constitutionality, Request for CID

    Taking the opposite approach from recent decisions of the U.S. Court of Appeals for the D.C. Circuit, a California federal court upheld the constitutionality of the Consumer Financial Protection Bureau while also ordering the defendant to comply with a civil investigative demand issued by the ...