Consumer Financial Services Practice Digest
Venable » Consumer Financial Services
by
2d ago
Legal and Regulatory Developments CFPB to Launch Registry of Nonbank Enforcement Actions In a move that's sure to make nonbank financial institutions even more uncomfortable, the Consumer Financial Protection Bureau (CFPB) has decided to shine a brighter light on those that have been alleged to ..read more
Visit website
It Depends: Scouring Precedent to Analyze National Bank Act Preemption
Venable » Consumer Financial Services
by
2d ago
The issue before the Supreme Court in Cantero v. Bank of America was straightforward: does the National Bank Act preempt a New York state law requiring all banks, including national banks, to pay interest on certain mortgage escrow accounts? The Court's unanimous answer: it depends. The upshot ... It Depends: Scouring Precedent to Analyze National Bank Act Preemption ..read more
Visit website
Supreme Court Overrules Chevron: Agency Deference in Flux
Venable » Consumer Financial Services
by
2d ago
In a monumental opinion issued today, the U.S. Supreme Court in Loper Bright Enterprises v. Raimondo overruled Chevron U.S.A. Inc. v. Natural Resources Defense Council, Inc., holding (6-3) that deference to an agency's interpretation of a statute is contrary to the Administrative Procedure Act ..read more
Visit website
CFPB to Launch Registry of Nonbank Enforcement Actions
Venable » Consumer Financial Services
by
3w ago
In a move that's sure to make nonbank financial institutions even more uncomfortable, the Consumer Financial Protection Bureau (CFPB) has decided to shine a brighter light on those that have been alleged to violate consumer financial law. Effective September 16, 2024, the CFPB's Nonbank Registration ... CFPB to Launch Registry of Nonbank Enforcement Actions ..read more
Visit website
Consumer Financial Services Practice Digest
Venable » Consumer Financial Services
by
1M ago
Legal and Regulatory Developments Why the CFPB's Preferencing and Steering Practices Circular Should Scare Lead Generators and Consumer Financial Services Providers If you've been focused on only the high-level statements from the CFPB, you might already expect Rohit Chopra to fashion himself ..read more
Visit website
Irregular Time—A Quasi-Proposed Rule on Incentive-Based Compensation
Venable » Consumer Financial Services
by
1M ago
For the third time, federal agencies have issued a proposed rule to regulate incentive-based compensation paid by certain financial institutions and other entities (the 2024 Proposal). The 2024 Proposal has been released by the FDIC, OCC, NCUA, and the Federal Housing Finance Agency. Section 956 of ... Irregular Time—A Quasi-Proposed Rule on Incentive-Based Compensation ..read more
Visit website
What the CFPB’s Supreme Court Victory Means for Financial Institutions
Venable » Consumer Financial Services
by
1M ago
Until recently, the most popular topic of discussion in the financial services world has been the outcome of the Supreme Court case CFPB v. Community Financial Services Association of America, regarding the constitutionality of the CFPB’s funding mechanism. The case was an existential threat to ... What the CFPB’s Supreme Court Victory Means for Financial Institutions ..read more
Visit website
The FDIC's Tougher Policy on Mergers—Why It Matters for Banks and Fintechs
Venable » Consumer Financial Services
by
2M ago
The FDIC proposed revisions last month to its existing policy on how it evaluates merger transactions that require the FDIC's approval under the Bank Merger Act (BMA). The proposed policy outlines how the FDIC would evaluate these transactions under the BMA's statutory factors relating to ... The FDIC's Tougher Policy on Mergers—Why It Matters for Banks and Fintechs ..read more
Visit website
CFPB Homes in on Mortgage "Junk Fees"
Venable » Consumer Financial Services
by
2M ago
Recent releases from the Consumer Financial Protection Bureau (CFPB) show that the mortgage industry is in the crosshairs of the CFPB's campaign against so-called junk fees. Earlier this year, the CFPB indicated its interest in mortgage servicing fees when it, along with the Federal Trade Commission, ... CFPB Homes in on Mortgage "Junk Fees ..read more
Visit website
Consumer Financial Services Legal and Regulatory Update at the FCAA 2024 Annual Conference
Venable » Consumer Financial Services
by
3M ago
Consumer Financial Services Legal and Regulatory Update at the FCAA 2024 Annual Conference ..read more
Visit website

Follow Venable » Consumer Financial Services on FeedSpot

Continue with Google
Continue with Apple
OR