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Search OptionsFinancial ServicesCFPB Significantly Expands UDAAP Authority to Address Discrimination
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… CFPB Targets “Junk Fees” – What Does This Mean for Your Financial Institution?
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… Indiana Senate Bill Would Replace LIBOR When Necessary
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… Overview of New Federal COVID-19 Vaccination Requirements for Employers (Podcast)
Employment Practice attorney Shelley M. Jackson discusses the new vaccination requirements for employers with over 100 employees. Mandatory Federal Registration Requirement for High-Volume Paper Bankruptcy Notice Recipients Effective December 1, 2021
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… Federal Agency Raises Lending Concerns Within Hemp Industry
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… Arbitration Clauses: Things Every Financial Institution Should Consider Before Agreeing to Arbitrate [WEBINAR]
Partners Libby Yin Goodknight, Scott S. Morrisson, and Brett J. Ashton hosted a webinar on Arbitration Clauses: Things Every Financial Institution Should Consider Before Agreeing to Arbitrate. A recording of the webinar and the slides from the presentation are available here. Want to Change a Joint Account? Put it in Writing!
Recently, the Indiana Court of Appeals issued an opinion that offers some guidance on how to properly change a joint account with rights of survivorship while living. In Solomon v. Lindsey, 163 N.E.3d 302 (Ind. Ct. App. 2020), Paul Martin (“Martin”) opened an account with Rydex Series Trust. On the… CFPB Proposes Two Measures to Address Ongoing COVID-19 Pandemic Concerns
Proposed Rule to Postpone Implementation of Debt Collection Final Rules to January 29, 2022 In late 2020, the United States Consumer Financial Protection Bureau (“CFPB”) issued final rules to revise Regulation F, 12 C.F.R., part 1006, which implements the federal Fair Debt Collection Practices Act… SEA 370 Signed Into Law, Effective Immediately
Indiana Governor Holcomb signed Senate Enrolled Act 370 into law yesterday, providing a clear restatement of the statute of limitations to be applied for purposes of resolving disputes regarding deposit accounts. As we have written extensively over the past two years, Indiana’s banks and credit… Secure and Fair Enforcement (SAFE) Banking Act Passes U.S. House…Again
On Monday, April 19, 2021, the U.S. House of Representatives passed the Secure and Fair Enforcement Banking Act of 2021 (the “Act”). The legislation was reintroduced in Congress in late March through a bipartisan effort involving members of both the U.S. House of Representatives (House) and the… |
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