Consumer Financial Protection Bureau Director Kathy Kraninger is proving to be more aggressive than her predecessor, Mick Mulvaney. In recent weeks, Kraninger has issued seven orders strictly enforcing the Bureau’s civil investigative demands, or “CIDs,” demonstrating that she intends to be a vigorous consumer advocate:
On May 6, a Ninth Circuit panel held that the Consumer Financial Protection Bureau’s single-director structure does not violate the Constitution, rejecting a California law firm’s argument that it should not be required to comply with a civil investigative demand issued by the agency.
The CFPB issued the CID to Seila Law as part of
On February 25, the Federal Trade Commission and the Consumer Financial Protection Bureau reauthorized their Memorandum of Understanding, or “MOU.”
The MOU, which governs the FTC’s and CFPB’s joint operations, focuses on five key areas of cooperation:
2018 was a busy year in the consumer financial services world. As we navigate the continuing heavy volume of regulatory change and forthcoming developments from the Trump Administration, members of Troutman’s Consumer Financial Services Practice will review the current state of federal and state consumer financial services law and policy and highlight what you and
2018 was a busy year in the consumer financial services world. As we navigate the continuing heavy volume of regulatory change and forthcoming developments from the Trump administration, Troutman Sanders is uniquely positioned to help its clients successfully resolve problems and stay ahead of the compliance curve.
In this report, we share developments on
Earlier this month, the apparent next chair of the U.S. House Committee on Financial Services, along with almost two dozen other Democrats, urged the Consumer Financial Protection Bureau’s new director to proactively supervise firms for compliance with servicemember lending rules.
In a letter to CPFB Director Kathleen Kraninger, Rep. Maxine Waters (D-Calif.)
After months of negotiations, on December 12, Congress overwhelmingly passed the Agricultural Improvement Act of 2018, which is also known as the “Farm Bill.” For banks and payment processors, the Farm Bill’s passage is an important development because the bill includes language removing hemp from the list of prohibited substances under the federal Controlled
A Minnesota District Court judge granted summary judgment on November 13 in favor of the defendant in Roark v. Credit One Bank, N.A., a Telephone Consumer Protection Act lawsuit regarding autodialers leaving pre-recorded messages on a consumer’s cell phone. From September through December 2015, Credit One’s vendors called plaintiff Stewart Roark’s
The subject of marijuana and banking has garnered more and more attention as an increasing number of States decriminalize or legalize its use, medicinally and recreationally. Still, no matter what State law might say about the matter, a wide array of commercial and banking activity remains criminal insofar as it is connected with marijuana. This
We are pleased to announce that Troutman Sanders attorneys Keith Barnett, Chad Fuller and John Lynch will be presenting during the American Conference Institute’s 30th National Advance Forum on Consumer Finance. The Forum on Consumer Finance will take place at the Wit Hotel in Chicago, Illinois. The forum will focus on expert strategies