Expect Focus - Volume 1, Winter 2014
In This Issue: - IN THE SPOTLIGHT ..Sixth Circuit Revisits Controversial ERISA Decision - LIFE INSURANCE ..Summary Judgment Victory for Life Insurer in Annuity Class Action ..Favorable Secondary Life...
View ArticleA Review And Analysis Of The CFPB’s Focus And Enforcement Activity Related To...
Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“the Act”) created and authorized the Consumer Financial Protection Bureau (“CFPB” or “the Bureau”) to implement,...
View ArticleCFPB Continues Assault On Add-On Financial Products
The Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), and the Options Clearing Corporation (OCC) have again required multimillion dollar refunds and...
View ArticleDOJ And CFPB Team Up To Take On Auto And Mortgage Lenders
The CFPB and the Department of Justice (DOJ) are joining forces to pursue damages and penalties against consumer lenders for violation of the Equal Credit Opportunity Act (ECOA) in pricing consumer...
View ArticleCFPB Report Highlights Focus On Mortgage Servicing
Under Dodd-Frank, the CFPB supervises depository institutions and credit unions with total assets of more than $10 billion, as well as certain nonbanks, regardless of size, including mortgage...
View ArticleCFPB Proposes Rule Allowing Online Posting Of GLB Privacy Notices
On May 6, the Consumer Financial Protection Bureau ("the CFPB" or "the Bureau") announced a proposed rule that would permit financial institutions to post annual privacy notices required by the...
View ArticleProposed CFPB Rule Would Allow Online Posting of GLBA Privacy Notices
The Gramm-Leach-Bliley Act (GLBA) requires financial institutions to provide customers with initial and annual notices of their privacy policies, including whether they share consumers’ non-public...
View ArticleThe High Costs and Consequences of a CFPB CID
Dodd-Frank gives the Consumer Financial Protection Bureau (CFPB) the power to enforce and implement federal consumer financial protection laws, including home mortgage and other consumer credit...
View ArticleCFPB Proposes Publishing Detailed Consumer Complaints
On July 16, the Consumer Financial Protection Bureau (CFPB) published a proposal to expand public disclosure of details of consumer complaints filed via its web-based public consumer complaint...
View ArticleExpect Focus - Catching The Next Wave, Regulatory and Litigation Developments...
In This Issue: - IN THE SPOTLIGHT ..Private Equity: The Next Wave of SEC Enforcement Actions? - LIFE INSURANCE ..How to Fight a STOLI Scheme: Court Rulings Offer Clues ..STOA Schemes Face Increased...
View ArticleUsing Information from Data Brokers? Beware the FCRA and the FTC …
As sellers and Internet service providers gather increasing amounts of consumer information, the data broker industry has expanded. Identifying themselves as "market research" firms, data brokers buy,...
View ArticleAhead: CFPB Regulations of Creditors Collecting Own Consumer Debts?
The Federal Fair Debt Collection Practices Act (FDCPA or the Act) was enacted in 1977 to end abusive consumer debt collection practices by debt collectors, while insuring that collectors who don’t...
View ArticleCFPB Wants to Publish Detailed Consumer Complaints
The Consumer Financial Protection Bureau (CFPB) has proposed to publicly disclose details of consumer complaints filed through its web-based public consumer complaint database by including a consumer...
View ArticleExpect Focus - Regulators Are Watching: New Products, New Opportunities, New...
In This Issue: - IN THE SPOTLIGHT ..Standard CGL Policy Form Adds Data Breach Coverage Exclusion - LIFE INSURANCE ..Class Claims Against Lincoln National Barred in Section 419 Action – Again...
View ArticleRevised CFPB Ability to Repay Rule Allows Excess Points and Fees Refunds for...
The Dodd-Frank Act amended the Truth in Lending Act (TILA) to require a creditor making a residential mortgage loan to make a reasonable and good faith determination (based on verified and documented...
View ArticleFinancial Institutions Voice Concerns about CFPB Proposal to Publish...
In our last issue, we discussed the Consumer Financial Protection Bureau (CFPB) proposal to publicly disclose consumer complaint details filed via its web-based public consumer complaint database by...
View ArticleConsumer Financial Protection Bureau Attempts to Regulate Telecom
Since it opened in 2011, the Consumer Financial Protection Bureau ("the Bureau" or "CFPB") has issued thousands of pages of regulations, mostly directed at the home mortgage industry, and aggressively...
View ArticleCFPB Proposes Regulating Nonbank Auto Finance Companies
On September 16, the Consumer Financial Protection Bureau (CFPB) issued and requested comment on a proposed rule that would, for the first time, subject nonbank auto finance companies to federal...
View ArticleExpect Focus - Spot The Regulator, Volume IV, Fall 2014
In This Issue: - IN THE SPOTLIGHT ..Crisis Management: Five Steps to Take Before Providing That Comment - LIFE INSURANCE ..Third Circuit Limits ERISA Fiduciary Liability to those with Ultimate...
View ArticleCFPB Says Arbitration Agreements Limit Consumer Relief in Class Actions; New...
The Supreme Court’s 2011 decision in AT&T Mobility LLC v. Concepcion upheld an arbitration clause requiring arbitration of claims individually, thereby effectively preventing class actions. While...
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