Searching Content indexed under Finance and Banking by Steven Kaplan ordered by Published Date Descending.
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CFPB (Finally) Issues Debt Collection Rules
In 1977, gas cost 62 cents per gallon; the first Apple II computers became available for sale; even the most primitive mobile phones were
United States
15 Jul 2019
New York Department Of Financial Services Appoints New Head Of Consumer Protection And Enforcement
On April 29, 2019, Acting Superintendent of the New York Department of Financial Services Linda A. Lacewell announced the appointment of Kathrine A. Lemire to serve as Executive Deputy Superintendent...
United States
22 May 2019
Keeping PACE With The Market: CFPB Seeks Information For PACE Financing For Possible Regulations
On March 4, 2019, the Consumer Finance Protection Bureau ("CFPB" or "Bureau") issued an Advance Notice of Proposed Rulemaking seeking comments related to Property Assessed Clean Energy ("PACE")
United States
18 Mar 2019
House Oversight Of CFPB Expected To Become More Aggressive Under Chair Waters
In September 2018, Rep. Waters introduced the Consumers First Act.
United States
7 Jan 2019
California Enacts TILA-Like Requirements For Business-Purpose Loans
New California legislation will impose disclosure requirements, similar to those under the federal Truth in Lending Act, on commercial-purpose loans of $500,000 or less, including arrangements...
United States
10 Oct 2018
TILA For Business Loans And Purchases Of Receivables? Factors, MCAs, Fintechs And Commercial Lenders Subject To New CA TILA-Like Disclosure Rules
California enacts a first-of-its-kind legislation imposing disclosure requirements on commercial purpose loans similar ...
United States
9 Oct 2018
OCC Files Amicus In Ninth Circuit Preemption Case
The US Court of Appeals for the Ninth Circuit's recent decision in Lusnak v. Bank of America, N.A.—holding that the National Bank Act did not preempt a California law requiring banks...
United States
30 Apr 2018
OCC Files Amicus Brief In Support Of Bank In Ninth Circuit Case On Preemption Of State Law On Interest On Escrow
OCC's brief argues that the court got the preemption issue in Lusnak wrong, for a number of reasons.
United States
27 Apr 2018
Vision 2020 and NMLS 2.0 Focus on the Future of Fintech
Last week was busy for the financial technology industry (Fintechs) and non-bank regulators.
United States
19 May 2017
Supreme Court Addresses FDCPA/Time-Barred Debts and Preemption/Arbitration
Today, the Supreme Court held that a debt collector does not violate the Fair Debt Collections Practices Act (FDCPA) by knowingly attempting to collect a debt in bankruptcy proceedings...
United States
16 May 2017
NJ Bankruptcy Case Takes Aim at Small Business Financing — Merchant Cash Advances and Bank Partnerships
A complaint filed March 23 by the bankruptcy trustee for Lam Cloud Management, LLC in the United States Bankruptcy Court for the District of New Jersey challenges two small business financing models:
United States
10 Apr 2017
US Marketplace Lenders Take Note: CFPB Scores Big Win in CashCall Lawsuit That Turns on "True Lender" Analysis
A federal district court in California handed the Consumer Financial Protection Bureau (CFPB) a big win on Wednesday, August 31, 2016, granting the agency summary judgment on liability in its lawsuit against CashCall, Inc., its affiliated entities and its owner.
United States
2 Sep 2016
A Debt Collection Overhaul Is Upon Us: The CFPB's Proposals Offer A Sign of What's To Come
Nearly three years after releasing its Advance Notice of Proposed Rulemaking on debt collection practices, the Consumer Financial Protection Bureau (CFPB) has finally offered some insight on its plans for issuing rules under the Fair Debt Collection Practices Act.
United States
9 Aug 2016
Madden Update: Solicitor General Says the Second Circuit Got it Wrong—But that the Decision Should Still Stand for Now
The controversial decision in Madden v. Midland Funding, LLC, was "incorrect" and "reflects an unduly crabbed conception of [National Bank Act] preemption," said the Solicitor General and the Office of the Comptroller of the Currency ("OCC") ..
United States
1 Jun 2016
The CFPB's Proposed Anti-Arbitration Rule
The rule just proposed by the Consumer Financial Protection Bureau to regulate arbitration agreements is not a surprise: the Bureau has said for months that it was developing such a rule.
United States
16 May 2016
Proposed Revisions To US Consumer Compliance Rating System Emphasize Compliance Management Systems
On April 29, 2016, the Federal Financial Institutions Examination Council ("FFIEC") released a proposal to revise the existing Uniform Interagency Consumer Compliance Rating System (the "CC Rating System").
United States
13 May 2016
Madden In The Supreme Court: Where It Is, And Where It Could Be Going
Nearly everyone in the consumer finance industry is familiar with the May 2015 decision of the United States Court of Appeals for the Second Circuit in Madden v. Midland Funding, LLC.
United States
18 Apr 2016
U.S. Court Of Appeals For The D.C. Circuit Sharply Questions CFPB At Oral Argument In PHH Corp. v. CFPB
The hearing before the U.S. Court of Appeals for the D.C. Circuit in PHH Corp. v. Consumer Financial Protection Bureau on April 12 was a tale of two arguments.
United States
14 Apr 2016
Time To Prepare For The CFPB's Proposed Rule Imposing A De Facto Ban On Arbitration In The Consumer Financial Services Sector
The CFPB is about to issue a rule that, if it goes into effect, will effectively eliminate these arbitration programs.
United States
14 Apr 2016
D.C. Circuit Panel Raises Questions Regarding The Constitutionality Of The CFPB
The structure of the Consumer Financial Protection Bureau (CFPB), which is headed by a single director who is removable only for cause, has been the subject of criticism and attack since the agency's inception.
United States
8 Apr 2016
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