The Consumer Financial Protection Bureau (the “CFPB” or the “Bureau”) announced yesterday that they had entered into a consent order (the “Consent Order”) against a financial institution for “unfair” and “abusive” acts and practices in connection with their assessment of overdraft fees tied to so…
As inflation and interest rates rise, a recession is likely coming. A recession means more bankruptcy filings. Providers of goods and services often unknowingly find themselves embroiled in bankruptcy litigation if the provider received payment within 90 days of the customer’s bankruptcy filing.…
While commercial businesses are typically aware of their responsibilities under the Americans with Disability Act (the “ADA” or the “Act”) relative to the maintenance of their physical office spaces and general corporate policies, some businesses have been the recipients of demand letters alleging…
Since his appointment on October 12, 2021, Consumer Financial Protection Bureau (“CFPB” or the “Bureau”) Director Rohit Chopra has embarked on an aggressive campaign to identify and punish discriminatory practices in the financial services industry. While heightened regulatory scrutiny of fair…
The world’s most popular contractual benchmark rate, the London Interbank Offered Rate or “LIBOR,” is being discontinued. Many LIBOR-based contracts contain inadequate provisions, or none at all, to deal with the discontinuation of LIBOR (“Vulnerable Contracts”). Lenders and industry leaders have…
Since his appointment on October 12, 2021, Consumer Financial Protection Bureau (“CFPB” or the “Bureau”) Director Rohit Chopra has embarked on an aggressive campaign to identify and punish discriminatory practices in the financial services industry. While heightened regulatory scrutiny of fair…
The Consumer Financial Protection Bureau (“CFPB” or the “Bureau”) recently issued a series of press releases and blog posts focused on the issue of so called “junk fees” consumers pay their banks, credit unions, and other financial institutions. Several of the largest banks in the country have…
Trillions of dollars are tied up in lending contracts that rely on the London Interbank Offered Rate (“LIBOR”) as their benchmark rate. On June 30, 2023, LIBOR will no longer be published in any capacity.1 Many LIBOR-based contracts contain inadequate provisions, or none at all, to deal with the…
Employment Practice attorney Shelley M. Jackson discusses the new vaccination requirements for employers with over 100 employees.
As noted recently by some United States Bankruptcy Courts, effective December 1, 2021, the Director of the Administrative Office of the United States Courts (the “AO”) has designated any entity that receives 100 or more paper bankruptcy notices in a single calendar month as a high-volume paper…
On July 12, 2021 the U.S. Farm Credit Administration (“FCA”), the federal agency that regulates farm lending, issued an informational memorandum (“Memo”) to its network of farm credit institutions. The Memo recommends considerations when deciding whether to provide financing to farmers seeking to…
