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To Restore Trust in Banks, Build Ethics Into Business Decisions
Trust is the bedrock upon which the banking business is built. However, revelations of unethical conduct at some banks have put that trust at risk. Senior officers of the Federal Reserve and other financial regulators recently met with management at leading banks to emphasize the need for a...
ArticlesJustices' Questioning in Jesinoski May Be Cause for Concern
Section 1635 of the Truth in Lending Act provides that a borrower may rescind certain mortgage loans within three days as a matter of right, and within three years if certain conditions are satisfied. The three-year extended rescission right applies only if a borrower does not receive certain...
ArticlesStarter Interrupters Expose Lenders to SCRA Risks
As the subprime auto loan market has grown over the past few years, so too have the number of starter interrupters in use. According to a recent New York Times story, these devices have been installed in approximately 2 million vehicles and are used in about one-quarter of all subprime auto loans...
ArticlesHow to Move the CRA Into the 21st Century
Warren Traiger authored "How to Move the CRA Into the 21st Century," which appeared in American Banker on November 3, 2014. There's a disconnect in the banking agencies' approach to reforming the Community Reinvestment Act. On the one hand, the Federal Reserve, Office of the Comptroller of the...
ArticlesConsumer Financial Services Answer Book 2015
Buckley Sandler lawyers played a prominent role in the publication of this leading desk reference on consumer financial services, published by the Practising Law Institute. The 2015 edition of this publication continues to provide practitioners with a core understanding of the laws governing...
ArticlesComment: California Judge's Ruling in Adobe Case Resonates Across US Data-Security
Elizabeth E. McGinn was quoted in a Mlex article, "California Judge's Ruling in Adobe Case Resonates Across US Data-Security" on October 13, 2014.
ArticlesBuckley Sandler Files Amici Curiae Brief on Behalf of Industry Groups in Supreme Court TILA Case
On September 17, Buckley Sandler filed an amici curiae brief on behalf of six industry associations in a Supreme Court case addressing the right to rescind a transaction under the Truth in Lending Act (TILA). In Jesinoski v. Countrywide , No. 13-684, the Court will consider whether borrowers must...
ArticlesThe CFPB's 'UDAAPification' of Consumer Protection Law
Questions about the scope of the Consumer Financial Protection Bureau's jurisdiction abound for financial institutions and other entities that work with them. What are the boundaries of the CFPB’s authority? How might these parameters expand in the future? Are there other ways the CFPB may take...
ArticlesThe Board of Directors and Cybersecurity: Setting up the Right Structure
Because investments in cybersecurity do not generate revenue, they can be a hard sell. At the same time, such investments generally lead to significant cost savings and can help a company avoid the reputational damage associated with a successful attack. In addition to devoting attention to reports...
ArticlesFrom Landlord to Locked Up: The Long Arm of the SCRA
Over the past few years, the U.S. Department of Justice and federal banking regulators have aggressively increased their efforts to enforce the SCRA. Both federal and state regulators now focus on SCRA compliance when examining institutions, and government enforcement attorneys are keenly aware of...
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