Search Results for: Dodd-Frank

The US Court of Appeals for the Second Circuit Thursday upheld the funding of the Consumer Financial Protection Bureau (CFPB) as constitutional. The court found the CFPB is funded by Title X of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act. The court’s finding rejected the argument of the plaintiff in the case, [...]

The US Supreme Court Monday issued an order list announcing it will hear two additional cases this term. The two cases are Pulsifer v. United States and Consumer Financial Protection Bureau v. Community Financial Services Association of America, Limited. In the first case, petitioners ask the justices to consider the meaning of the First Step Act [...]

The US Securities and Exchange Commission (SEC) Wednesday adopted compensation recovery listing standards and disclosure rules which will “require issuers to develop and implement a policy providing for the recovery of erroneously awarded incentive-based compensation received by current or former executive officers.” The SEC stated that the rule applies even if the public company executive [...]

The US Consumer Financial Protection Bureau (CFPB) ordered Thursday that several tech giants, including Amazon, Facebook, and Google to turn over information on payments-related systems and products. CFPB ordered six technology platforms to turn over information. These six platforms are Google, Apple, Facebook, Amazon, Square, and Paypal. CFPB Director Rohit Chopra stated that the bureau would [...]

Several states filed suit Tuesday against the US Office of the Comptroller of the Currency (OCC), seeking to void the “True Lender Rule” that would deprive states of the ability to enforce state laws against exploitative interest rates. In the complaint, filed in the US District Court for the Southern District of New York, the [...]

Many practitioners, to say nothing of members of the press, recently have come to ask: “What’s up with John Roberts? Has he become a liberal?” This, of course, started with National Federation of Independent Business v. Sebelius, where the Chief Justice voted with the four liberal justices to uphold the Affordable Care Act. But it [...]

The US Supreme Court ruled Monday in Seila Law LLC. v. Consumer Financial Protection Bureau that the leadership structure of the Consumer Financial Protection Bureau (CFPB) violates the separation of powers. The case began when the CFPB ordered Seila Law to disclose business practices with a civil investigative demand in 2017. Seila Law refused to comply [...]

Student Debt Crisis, a nonprofit organization, initiated a lawsuit against US Secretary of Education Betsy DeVos and Kathy Kraninger, the director of the Consumer Financial Protection Bureau (CFPB) Monday. The complaint states that DeVos and Kraninger manipulated federal policy requiring the supervision of loan services by the federal government. The CFPB also claimed to only [...]

The Consumer Financial Protection Bureau (CFPB) is considering rolling back payday and title loan regulations designed to protect consumers from dangerous debt traps. Considered part of America’s democratization of credit, payday and title loans are offered by a multi-billion-dollar industry that is growing at a rate that far exceeds the rest of the financial services [...]

The US Supreme Court refused to take up a case challenging the constitutionality of the Consumer Financial Protection Bureau (CFPB) on Monday. This Supreme Court’s decision not to hear the case came after a June 8 decision by the US Court of Appeals for the District of Columbia Circuit, which affirmed the constitutionality of the [...]