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"What commenters have to say about proposed CRA updates" by Warren W. Traiger (Law360)
Finally, almost a decade after announcing a joint effort to modernize the Community Reinvestment Act, the prudential regulators have signaled that revisions are in the offing. Over the last two months, representatives from the Office of the Comptroller of the Currency, Federal Deposit Insurance...
Articles"Navigating today’s biometric landscape" by Elizabeth E. McGinn, Scott T. Sakiyama, Magda Gathani, and Garylene D. Javier (Cybersecurity Law Report)
Biometrics-based authentication of payments and other transactions has been on the rise for the past several years, promising unparalleled convenience and security for consumers. However, the distinctive nature of biometric features that confers its advantages is also the source of the technology’s...
Articles"Proceed with caution: Expanded role for the FTC on the road ahead" by Amanda R. Lawrence (American Bar Association Business Law Today)
Recent changes in agendas and leadership at the federal level are prompting companies offering financial products and services to question what consumer protection enforcement will look like on the road ahead. There has been significant discussion about the increasing role of state regulators,...
Articles"Banks looking for common ground on CRA modernization" by Warren W. Traiger (Banking Exchange)
Regulatory officials in recent days have taken what appear to be initial, tentative steps toward the daunting task of revising the Community Reinvestment Act: They are talking publicly about it. That is of no small significance, given that the conversation is fraught with some of the most complex,...
Articles"Coercive process for material witnesses needs reform" by Preston Burton and Paige Ammons (Law360)
The material witness statute confers incredible power on the government to obtain the arrest and detention of a witness — even though that person is not accused of having committed any crime — simply by showing the court that the person is purportedly “material in a criminal proceeding” and that it...
Articles"The federal mandatory initial discovery pilot project—18 months in" by Amanda R. Lawrence and Scott T. Sakiyama (American Bar Association)
The Judicial Conference of the United States is considering drastic changes to the Federal Rules of Civil Procedure that could result in significantly accelerated time frames for the commencement of discovery. The Judicial Conference began testing these changes in a pilot program, and the...
Articles"Breaking down (language) barriers: A practical approach to LEP borrowers" by Jessica L. Pollet and Susanna K. Sedrak (Westlaw Journal)
In roughly 5.3 million households in the United States, the head of the house doesn’t speak English as the primary language or has limited ability to understand it.1 But like most individuals seeking full participation in the U.S. economy, those with limited English proficiency need access to...
Articles"Even with a safe harbor, private flood insurance rules may prove vexing" by Melissa Klimkiewicz (National Mortgage News)
Seven years after Congress mandated that the federal banking agencies issue rules to facilitate growth of the private flood insurance market, the rules are here, and mortgage lenders and servicers should take notice. Starting on July 1, the Federal Deposit Insurance Corp., Office of the Comptroller...
Articles"'Do I really need to keep this?'" by Caitlin M. Kasmar (Corporate Compliance Insights)
Navigating the Information Age Without Saving Everything Data retention is a persistent challenge for in-house counsel, but developing workable information governance policies and procedures needn’t be a taxing exercise; in fact, they can generate measurable cost savings to the company. Here,...
Articles"Takeaways from military member complaints at CFPB" by Jeffrey P. Naimon, Sasha Leonhardt, and Christina R. Smith (Law360)
The Consumer Financial Protection Bureau ’s Office of Servicemember Affairs recently released a report highlighting issues facing military consumers based on complaints submitted by service members, veterans and their families. This report identifies categories and trends among the approximately 48...
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