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The CFPB and an End to 'Unwarranted Regulatory Burdens'?
On July 21 the Consumer Financial Protection Bureau officially became the regulator of record for a majority of institutions in the consumer financial services industry. Much has been made of the CFPB’s sweeping, unprecedented powers to protect consumers from “unfair, deceptive or abusive” acts and...
ArticlesHeightened Standards: What Wal-Mart v. Dukes Means for Future Class-Action and Consumer Finance Litigation
Elizabeth E. McGinn and Sasha Leonhardt discuss the recent U.S. Supreme Court ruling regarding class certification in Wal-Mart v. Dukes , a labor and employment case, and what the opinion means for consumer finance class actions going forward. Also published in: November 2011 edition of the Westlaw...
Articles10 Steps Your Company Should Take When Responding to a Subpoena
Changes to federal preemption standards and state visitorial powers under Dodd-Frank are likely to mean more enforcement actions: 10 steps your company should take when responding to a subpoena. Federal preemption standards have been altered by case law in the past five years Enforcement actions...
ArticlesFrom Pickpockets to Playstations: Evolving Data Privacy Threats and Federal and State Responses
In recent years, there have been several high-profile security breaches relating to consumer financial data. These breaches - involving companies as diverse as GE Money, AOL, T.J. Maxx, Boeing, Rite Aid, and most recently, Sony's PlayStation Network - have revealed the personal information of...
ArticlesThe UDAP-ification of Consumer Financial Services Law
In this article, the authors examine the “UDAP-ification” of consumer financial services law, discussing the origins and theoretical underpinnings of unfair and deceptive acts and practices law, and then noting recent actions by federal and state agencies to apply UDAP laws and principles in both...
ArticlesA Brief History of UDAP Laws and Predictions for Post-Dodd Frank Developments
Since the Dodd Frank Wall Street Reform Act was enacted,consumer advocates, the private bar and financial providers are reviewing unfair and deceptive acts and practices laws, seeing them as the potentially most farreaching enforcement tools in the government’s consumer protection arsenal. One...
ArticlesThe SAFE Act's Unlevel Playing Field
In the nearly two years since Congress passed the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (commonly known as SAFE), the one known truth may be this: Bleesed are those who hold a bank charter. SAFE requires national licensing and registration of individual mortgage loan...
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