Time will tell whether the Consumer Financial Protection Bureau's (CFPB) stated goals of accelerating "open banking" and competition will come to fruition as a result of the long-awaited final rule implementing Section 1033...more
The U.S. Supreme Court ruled last week that the Consumer Financial Protection Bureau (CFPB) is constitutionally funded, ending a lengthy challenge by a payday lender to its funding structure under the U.S. Constitution's...more
Many Bank Holding Companies (BHC) have shareholder/stockholder agreements that limit voting rights, transfer of shares and other restrictive provisions. The creation and implementation of these agreements occurred mainly when...more
On September 8, 2022, the Consumer Financial Protection Bureau (CFPB) issued a consent order requiring a bank to pay a $50 million penalty and to refund at least $141 million to consumers allegedly harmed by the bank’s...more
Many Bank Holding Companies (BHCs) have shareholder/stockholder agreements that limit voting rights, buy-sell, transfer of shares and other restrictive provisions. The creation and implementation of these agreements occurred...more