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Nicholas (Nick) Ramos draws on years of military leadership, project management, and legal experience to help clients solve difficult business problems from a legal perspective. He assists clients in navigating regulatory compliance issues, complex enforcement actions, and licensing that arise under both state and federal law.

The California Consumer Financial Protection Law (CCFPL) went into effect on January 1. The CCFPL requires the Department of Financial Protection & Innovation (DFPI), formerly the Department of Business Oversight, to establish an Office of Financial Technology Innovation (OFTI). The DFPI stated in its recent monthly bulletin that OFTI would allow it to “work proactively

In a recently filed Form 10-K, PayPal Holdings, Inc. (PayPal) announced that it received a Civil Investigative Demand (CID) from the Consumer Financial Protection Bureau (CFPB) on January 21 “related to Venmo’s unauthorized funds transfers and collections processes, and related matters.” PayPal owns and operates Venmo as part of its digital wallet portfolio.

While

On August 5, 2020, the US Senate Committee on Veterans’ Affairs ordered the Stopping Harm and Implementing Enhanced Lead-time for Debts for Veterans Act of 2020 (the “Act”), formerly known as the Veteran Debt Fairness Act of 2019, to move forward in the legislative process. The Act seeks to substantively amend Chapter 53, title

The COVID-19 pandemic has wreaked havoc on the U.S. economy in unimaginable ways. Millions are unemployed as a result of federal and state action to contain and limit the spread of the virus. The cascading effects of shutting down the entire U.S. economy have already been felt by both mortgage servicers and borrowers alike.

In

As many companies continue to struggle in the face of the coronavirus (“COVID-19”) pandemic, some of them can add increased regulatory scrutiny to their list of stressors. Over the last couple of months, the United States Federal Trade Commission and the Food and Drug Administration have issued over 100 warning letters to companies making allegedly

Pursuant to the Federal Credit Union Act, the National Credit Union Administration issued a temporary final rule on April 21, easing regulatory requirements to assist federal credit unions (“FCUs”) and federally insured credit unions (“FICUs”) during the coronavirus (“COVID-19”) pandemic. The rule makes the following key changes that will be effective through December 31, 2020:

Earlier this year, the Consumer Financial Protection Bureau created a Taskforce on Federal Consumer Financial Law to “examine the existing legal and regulatory environment facing consumers and financial services providers and report to [the Bureau] its recommendations for ways to improve and strengthen consumer financial laws and regulations.” To assist the Taskforce, the Bureau recently