• 11.21.17

    OCC’s Otting Confirmed: Another Former OneWest Executive Takes Reins

    On a largely party-line vote, the Senate has confirmed former OneWest president Joseph Otting as Comptroller of the Currency.

  • 11.09.17

    Exclusion Precludes Coverage for Bank’s $24M Settlement

    In a blow to a bank that settled overdraft litigation for $24 million, the U.S. Court of Appeals, Seventh Circuit affirmed that the financial institution’s liability policy did not provide coverage for the deal.

  • 10.26.17

    Multi-Plaintiff Suit Challenges CFPB’s Arbitration Rule

    With no progress in Congress repealing the Consumer Financial Protection Bureau’s (CFPB or Bureau) arbitration rule, a coalition of 18 organizations filed suit in Texas federal court seeking to halt implementation of the prohibition on the use of mandatory predispute arbitration clauses.

  • 10.25.17

    The CFPB Arbitration Rule Is Dead, or Is It?

    By now you’ve heard that the Senate has killed the Consumer Financial Protection Bureau’s (CFPB’s) arbitration rule.

  • 10.12.17

    CFPB News: Recent Updates and Actions

    It has been a particularly busy period for the Consumer Financial Protection Bureau (CFPB), which issued a proposed rule governing payday lending, received a mixed decision from a California federal court judge in a lawsuit against a company offering a biweekly payment program, modified the Equal ...

  • 10.12.17

    Bank Compels Arbitration of Overdraft Class Action

    Reversing a Florida district court action, the U.S. Court of Appeals, Eleventh Circuit agreed with a national bank that a class action challenging overdraft fees should be moved to arbitration.

  • 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.