Will Resiliency Carry the Digital Asset Sector Through 2024: Federal Legislative Developments and OFAC Consent Orders — The Crypto Exchange Podcast
Takeaways for Banks from the CFPB’s Recent Consent Order on Garnishment Orders
On June 18, the CFPB filed a proposed final judgment that would require a Florida-based nonbank mortgage originator and servicer to pay a $3.95 million civil money penalty and implement corrective actions requiring the...more
The New York Attorney General (“AG”) and New York Department of Environmental Conservation Commissioner (collectively, “AG”) announced in a September 14th news release the convictions of ALPCO Recycling, Inc., Alton Plumb,...more
On June 8, the CFPB announced that it has ordered a medical debt collector to pay a $1.7 million fine and provide refunds for alleged violations of debt collection rules. This action stands as a reminder to those dealing with...more
On May 1, the New York Department of Financial Services (“NYDFS” or “Department”) and a trading platform entered into a consent order to resolve deficiencies identified during examinations conducted in 2018 and 2020. The...more
On January 26, 2023, the Massachusetts Division of Banks (DOB) entered into a consent order with a California-based mortgage lender. According to the DOB, the company, which was licensed as a mortgage lender in...more
The New Jersey Attorney General’s Office and Division of Consumer Affairs recently announced that two New Jersey-based printing companies, Command Marketing Innovations, LLC (CMI) and Strategic Content Imaging, LLC (SCI),...more
The Office of the Comptroller of the Currency (OCC) issued a $250 million civil penalty against Wells Fargo Bank, NA for flaws in the bank’s home loan loss mitigation program. In addition, the OCC issued a cease-and-desist...more
The Securities and Exchange Commission (“SEC” or “Commission”) recently issued a stark reminder to regulated persons that it will pursue enforcement actions if they prevent whistleblowers from communicating with the SEC or...more
The Federal Trade Commission (FTC) issued a $1.2 million fine against glue manufacturing company, Chemence, Inc. for violating a 2016 consent order requiring the company to qualify its “Made in USA” claims in its promotional...more
On 5 June 2019 the Consumer Financial Protection Bureau (CFPB) announced its consent order (consent order) with a large mortgage lender (the company) for allegedly reporting erroneous sex, race, and ethnicity Home Mortgage...more
On April 25, 2016, the Consumer Financial Protection Bureau (CFPB) entered into consent orders with a debt collection law firm, two of the firm’s principal partners, and New Century Financial Services, Inc., a company that...more
Reviewing the International Trade Commission’s (ITC or Commission) finding of a violation of a consent order, a divided panel of the U.S. Court of Appeals for the Federal Circuit concluded that a subsequent finding that the...more
Two recent Consent Orders issued by the New York State Department of Financial Services against major insurers appear to signal the Department’s enhanced focus on insurers’ detailed compliance with regulatory requirements....more
This past Thursday, the CFPB announced that it filed a complaint against a Florida debt-relief company that misled consumers across the country. Following an investigation into American Debt Settlement Solutions, Inc. (ADSS)...more