Fair Lending Shake-Ups: CFPB Vacates Townstone Settlement, FHFA Ends GSEs' Special Purpose Credit Programs — The Consumer Finance Podcast
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more
January 8, 2025- The Federal Reserve released the minutes of the Federal Open Market Committee meeting that was held on December 17–18, 2024. January 8, 2025 - Federal Reserve Board Governor Christopher J. Waller gave a...more
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more
Editor's Note The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically...more
November 15, 2023- U.S. House Committee on Financial Services Chair Patrick McHenry (R-NC), and Senator Cynthia Lummis (R-WY) led a letter with a bipartisan group of colleagues to the prudential regulators—the Office of...more
November 18, 2022- The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) sanctioned one Russian national, Dmitry Kudryakov, and one Belarusian national, Iryna Litviniuk, for their role in exploiting...more
It certainly feels like a race between innovation and enforcement these days, with regulators and law enforcement stepping up the cautionary rhetoric and promising broader enforcement aimed at corporate actors....more
August 17, 2022- U.S. Senate Banking Committee Member Pat Toomey (R-PA) is asking for information from the Federal Deposit Insurance Corporation following reports it may be improperly deterring banks from doing business...more
On July 18, the Federal Housing Finance Agency (“FHFA”) announced the launch of a new Office of Financial Technology with the goal of advancing effective risk management as it evaluates fintech developments in the housing...more
Outlook for This Week in the Nation’s Capital - Congress. Both the House and Senate will be in session this week, after two weeks of recess. The Senate schedule for this week, however, is up in the air given that Senate...more
Major Developments- Justice Department Announces Enforcement Action Charging Six Individuals with Cryptocurrency Fraud Offenses in Cases Involving Over $100 Million in Intended Losses...more
FDIC Directs Banks to Provide Notice Before Engaging in Crypto-related Activities According to guidance recently issued by the FDIC, banks that it supervises and that intend to engage in, or are already engaged in, activities...more
China's Cryptocurrency Ban: What It Means for Bitcoin, Coinbase and the US - "On Sept. 24, China's Central Bank declared all crypto-related transitions illegal, citing concerns about gambling fraud and money laundering." ...more
Paul Singer’s Elliott Management hedge fund revealed a $3.2 billion stake in AT&T and, along with it, a healthy-skepticism of the company’s 2018 purchase of Time Warner and general calls to divest as part of a 24-page letter...more
Editor's Note - In This Issue. The Securities and Exchange Commission’s (SEC) Division of Investment Management released a No-Action Letter that relieves mutual fund directors from in-person voting requirements under...more
Milwaukee-based Harley-Davidson announced on Monday that it will shift some of its motorcycle production overseas “to avoid retaliatory tariffs imposed by the European Union” in response to the White House’s trade moves....more