"Post-crisis AG enforcement is just the beginning" by Douglas F. Gansler and Michelle L. Rogers (Law360)
UDAAP — the prohibition against unfair, deceptive, or abusive acts or practices — is now ubiquitous in government enforcement actions, due in large part to the Consumer Financial Protection Bureau ’s expansive authority under the Dodd-Frank Act. Yet, as the CFPB has reshaped much of the financial...Articles
Jeffrey P. Naimon, Jon David D. Langlois, and Daniel Cheriyan Authored a Law360 Article, "Ignore Borrower Preference In Loss Mitigation? CFPB Says Yes"
Mortgage servicers should not listen to borrowers when it comes to loss mitigation. At least, that’s what the Consumer Financial Protection Bureau says. More specifically, servicers should disregard when a borrower tells the servicer they do not want to keep their home. Officially, this has been...Articles
The financial crisis had a profound impact on the regulatory structure applicable to the financial services industry and the consumer experience when purchasing financial products and services. The prudential regulation model whereby regulators worked with financial institutions to ensure safe and...Articles
Melissa Klimkiewicz and Brandy A. Hood Authored a Law360 Article, "Managing Flood Risk When '1,000-Year' Floods Seem Common"
Hurricane Harvey is the most significant in a recent series of catastrophic coastal and riverine floods impacting communities across the United States. This “1,000-year flood” follows two consecutive years of “500-year” floods in Houston, and Houston is not alone. Just ask Missourians about the “1,...Articles
Fredrick S. Levin Authored a Law360 Article, "2 Litigation Trends Offer Guidance On TCPA Compliance"
$76 million, $14.8 million, $12 million and $3.7 million. These numbers represent some of the Telephone Consumer Protection Act settlement agreements negotiated in 2017. As shown by these numbers, TCPA litigation continues to be a leading litigation risk for corporate America. Recently, several...Articles
Andrew W. Schilling and Megan E. Whitehill Authored a Law360 Article, "Revisiting Bishop In Light Of Escobar"
Last year, the Second Circuit Court of Appeals in New York handed the banking industry some much-needed ammunition to fight back against False Claims Act suits premised on broad certifications of compliance. Specifically, in Bishop v. Wells Fargo & Co ., the court affirmed the dismissal of a...Articles
Jeffrey P. Naimon and Sasha Leonhardt Authored a Law360 Article, "Harvey Crisis: How State Laws Will Protect Servicemembers"
As Hurricane Harvey devastated Houston and southeastern Texas this past weekend, thousands of first responders were called to action to provide critical assistance to communities along the Gulf Coast. Even as this storm continues to affect those along the water and move inland, rescue operations,...Articles
Daniel P. Stipano, Ellen M. Warwick, and Benjamin W. Hutten Authored The Review of Banking & Financial Services Article, "FinCEN's Customer Due Diligence and Beneficial Ownership Rule"
On May 11, 2016, the U.S. Department of Treasury’s Financial Crimes Enforcement Network (“FinCEN”) published a long-awaited final rule, Customer Due Diligence Requirements for Financial Institutions (the “Final Rule”). The Final Rule, which impacts anti-money laundering (“AML”)-related obligations...Articles
Andrew L. Sandler and Benjamin K. Olson Authored a Law360 Article, "Personnel Is Policy: Succession Possibilities At The CFPB"
The Consumer Financial Protection Bureau is headed by a single director, which means the replacement of one person with another can have a dramatic effect on the agency’s rule-making, examination and enforcement agenda and, by extension, the industries it regulates and consumers of financial...Articles
Amanda Lawrence and Michael A. Rome Authored a Law360 Article, "The Great Class Action Ascertainability Debate"
In recent years, courts have divided sharply over whether or not Rule 23 of the Federal Rules of Civil Procedure creates an implicit requirement that a class must be ascertainable in order to be certified. This article addresses the meaning of ascertainability, the circuit split over whether and to...Articles