The Consumer Financial Protection Bureau is amending Regulation C under the Home Mortgage Disclosure Act (“HMDA”), extending the current temporary threshold for collecting and reporting data about open-end lines of credit until January 1, 2022. The rule also incorporates partial exemptions from the Economic Growth, Regulatory Relief, and Consumer Protection Act
With oversight from the Securities and Exchange Commission, the Financial Industry Regulatory Authority is preparing revisions to its rules aimed at amending the process for expungement filings and hearings. FINRA believes its new rules will increase the level of scrutiny on licensed brokers and financial advisors seeking to erase customer complaints from their regulatory records.
Square, the credit card processing company, now allows sellers of cannabidiol (“CBD”) products to use its services. Merchants can apply to accept payments for CBD transactions through Square’s platform for both online and brick-and-mortar sales. The move offers streamlined payment processing for a rapidly growing industry mired in regulatory uncertainty.
CBD
On October 22, a proposed class of over 7,000 former college students filed a lawsuit against Education Secretary Betsy DeVos and the Department of Education (“DOE”) in the United States District Court for the District of Massachusetts, citing the department’s “enduring refusal to discharge the federal student loans”
On September 12, the U.S. Court of Appeals for the Eleventh Circuit reversed a trial court’s certification of a Rule 23(b)(2) “injunctive relief” class, holding that “because what this ‘injunction’ class really wants is damages—and more precisely, because the injunctive remedy that this class seeks would be improper—the answer to [whether the class is viable]
We are pleased to announce that Troutman Sanders attorney Ron Raether will be presenting during the ISMG Fraud & Breach Summit in Washington, DC. The summit will take place at the Mayflower Hotel in Washington, DC and will focus on global security topics such as fraud and breach prevention and on many key industry verticals
We are pleased to announce that Troutman Sanders attorney Sadia Mirza will be presenting during the CCPA ISACA – OC Forum. The forum will be held at the Mile Square Golf Club in Fountain Valley, California on November 14th. Sadia will be presenting at 8:05am PDT on the topic titled, “CCPA: Three Months
On October 17, the Consumer Data Industry Association filed a lawsuit in the District of New Jersey seeking to block a New Jersey state law requiring credit reports to be made available in eleven foreign languages, if requested by the consumer. Specifically, the Association argues that the federal Fair Credit Reporting Act preempts the law
The Consumer Financial Protection Bureau is proposing changes to the Fair Debt Collection Practices Act and the Dodd-Frank Wall Street Reform and Consumer Protection Act (commonly referred to as “Dodd-Frank”). State attorneys general from 28 states have banded together to comment on the changes, which may impact an estimated 49 million American consumers who
The Telephone Consumer Protection Act, while permitting personal liability against officers and directors, continues to shield related corporate entities from liability. The same corporate formalities that impose liability on officers and directors ironically work to shield corporate entities from the same liability.
In Holland v. JPMorgan Chase Bank, plaintiff Steven W. Holland sued