Newsletters

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.


06.23.17

House Approves Rollback of Post-Recession Financial Reforms

In a party line vote, the House of Representatives approved the Financial CHOICE Act of 2017. If signed into law, this legislation would profoundly alter the financial services regulatory landscape put in place after the 2007–08 financial crisis.


06.22.17

Supreme Court: FDCPA Doesn’t Cover Owned Debt

A bank or other person may collect debts that it purchased for its own account without triggering the statutory requirements of the Fair Debt Collection Practices Act, a unanimous Supreme Court recently ruled.


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 ...


05.25.17

Curry Defends OCC's Fintech Charter, New York's DFS Sues

Stepping down as the leader of the Office of the Comptroller of the Currency (OCC), Thomas J. Curry highlighted the efforts of the agency to encourage financial innovation, particularly the agency's decision to grant fintech charters, as another lawsuit was filed challenging those charters.


05.12.17

CSBS Sues OCC Over Fintech Charters

An organization of state banking regulators hit the Office of the Comptroller of the Currency with a lawsuit, claiming the federal agency’s plan to issue fintech charters exceeds its authority.


03.20.17

Curry in a Hurry: OCC Publishes Fintech Charter Standards

A key banking regulator has published draft licensing standards that could fundamentally change how financial technology companies operate and are supervised in the United States.


03.16.17

Borrower Wins Key Victory in Madden v. Midland

A federal judge has ruled that New York law—not Delaware law as the parties agreed in the initial loan agreement—applies to the defaulted borrower's claims and has certified a class action against the debt collector.


03.03.17

Borrower Wins Key Victory in Madden v. Midland

A federal judge has ruled that New York law—not Delaware law as the parties agreed in the initial loan agreement—applies to the defaulted borrower's claims and has certified a class action against the debt collector.


02.02.17

Comments Reveal Mixed Reaction to OCC Fintech Charter

As the comment period ended on the Office of the Comptroller of the Currency's (OCC) proposal to establish a fintech charter, stakeholders weighed in on both sides of the idea.