News & Analysis as of

Dodd-Frank Wall Street Reform and Consumer Protection Act Final Rules Enforcement Actions

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and... more +
The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and includes broad reforms related to many aspects of the financial and banking industry. Notable sections of the Act include stricter regulations of the derivatives market, as well as the Volcker Rule, which restricts the trading practices of FDIC-insured institutions.    less -
Ballard Spahr LLP

Unlawful funding argument raised in challenge to final CFPB rule

Ballard Spahr LLP on

We have previously blogged about how targets of CFPB enforcement actions have asserted that the actions must be dismissed because the investigations were conducted and the lawsuits were brought and are being prosecuted with...more

Ballard Spahr LLP

CFPB Issues Final Rule Creating Nonbank Enforcement Action Registry

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The CFPB issued its final rule, titled the Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders Final Rule, on June 3, 2024. The rule will require certain nonbank entities to register certain covered...more

Troutman Pepper

CFPB Issues Final Rule on Nonbank Registration of Enforcement Orders

Troutman Pepper on

On June 3, the Consumer Financial Protection Bureau (CFPB or Bureau) issued its final rule requiring covered nonbanks to register enforcement orders, and it is a doozy. Not only will covered nonbanks be required to register...more

Proskauer - Whistleblower Defense

SEC Amends Whistleblower Program Rules

On September 23, 2020, by a vote of 3 to 2, the U.S. Securities and Exchange Commission announced the adoption of a final rule implementing several changes to its whistleblower program, citing the need to “provide greater...more

Goodwin

Financial Services Weekly: Amendments To SEC Proxy Solicitation Rules Approved By A 3-1 Vote

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In This Issue. The Securities and Exchange Commission (SEC) finalized amendments to its proxy solicitation rules that will modify the practices of proxy advisory firms, providing them with greater transparency and...more

Goodwin

Financial Services Weekly Roundup: The Supreme Court Strikes Back On Single Director Leadership Structures

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In This Issue. The U.S. Supreme Court struck down the single director leadership structure of the Consumer Financial Protection Bureau (CFPB) in a ruling that could have far-reaching implications for the CFPB and other...more

Perkins Coie

SEC May Limit “Game Changing” Whistleblower Bounties

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The U.S. Securities and Exchange Commission proposed three rule changes last week to the commission’s whistleblower program, including one that would authorize the SEC to “downward adjust” monetary awards in large actions for...more

Manatt, Phelps & Phillips, LLP

CFPB Brings Another Auto Lender Action, This Time for $48M

Why it matters - Continuing its focus on the auto lending industry, the Consumer Financial Protection Bureau (CFPB) ordered Westlake Services LLC and subsidiary Wilshire Consumer Credit LLC to pay roughly $48 million for...more

Manatt, Phelps & Phillips, LLP

Regulators Demand “Good Faith Efforts” for TRID Implementation

Why it matters - Federal regulators said they don’t expect perfection from banks trying to comply with the new mortgage disclosure requirements but will not turn a blind eye with regard to enforcement. In letters to...more

Goodwin

Financial Services Weekly News Roundup - December 2014 #5

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Editor’s Note: Spotlight on the Credit Risk Retention Rule: The OCC, Federal Reserve Board, FDIC, SEC, FHFA and HUD announced the adoption of a joint final rule (the Rule) to implement the credit risk retention...more

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