The U.S. Court of Appeals for the Third Circuit ruled last week in Commonwealth of Pennsylvania v. Navient Corp. that the PA Attorney General could bring a parallel enforcement action against Navient, a servicer of federal...more
8/5/2020
/ Constitutional Challenges ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Education ,
Disclosure Requirements ,
Enforcement Actions ,
Federal Student Loans ,
Higher Education Act ,
Misrepresentation ,
Preemption ,
State Attorneys General ,
Student Loans ,
Unfair or Deceptive Trade Practices
The Connecticut federal district court has ruled in Pennsylvania Higher Education Assistance Agency v. Perez that demands by the Connecticut Department of Banking (DOB) to the Pennsylvania Higher Education Assistance Agency...more
Earlier this week, Governor Andrew Cuomo again advanced controversial legislation that would establish a state licensing regime for student loan servicers....more
In a highly anticipated speech to the New York City Bar White Collar Crime Institute this morning, Deputy Attorney General Rod Rosenstein announced two new Department of Justice (DOJ) policies...more
A federal court this week found that the U.S. Commodity Futures Trading Commission (CFTC) had jurisdiction to regulate a cryptocurrency business, raising the possibility of jurisdictional tension among the CFTC and other...more
3/9/2018
/ Bitcoin ,
Blockchain ,
CFTC ,
Commodities ,
Cryptocurrency ,
Digital Currency ,
Distributed Ledger Technology (DLT) ,
Financial Instruments ,
Financial Markets ,
Initial Coin Offering (ICOs) ,
Jurisdiction ,
Regulatory Oversight ,
Token Sales ,
Virtual Currency
On Monday, January 8, 2018, the United States Department of Justice weighed in with a Statement of Interest under 28 U.S.C. § 517 in a pending state-court action (No. 1784CV02682) brought by the Commonwealth of Massachusetts...more
1/10/2018
/ Consumer Financial Products ,
Consumer Protection Laws ,
Department of Education ,
Department of Justice (DOJ) ,
Federal Grants ,
Federal Student Loans ,
Financial Services Industry ,
Motion to Dismiss ,
Preemption ,
State and Local Government ,
Student Loans ,
Unfair or Deceptive Trade Practices
In an unusual four-member majority opinion in RJR Nabisco, Inc. v. European Community, the U.S. Supreme Court settled a host of controversial questions about the extraterritorial scope of the Racketeer Influenced and Corrupt...more
6/22/2016
/ Corporate Counsel ,
EU ,
Extraterritoriality Rules ,
Foreign Entities ,
Mail Fraud ,
Money Laundering ,
Organized Crime ,
RICO ,
RJR Nabisco ,
RJR Nabisco v European Community ,
SCOTUS ,
Travel Act ,
Wire Fraud