Here. Excerpt: Cordray, who has helmed the CFPB as its first and only director, said Tuesday that he has no intention of stepping down early, despite pressure from Republicans eager to overhaul the 5-year-old agency. “It really shouldn’t change the job at all,” said Cordray of Trump assuming power. “We have an independent mandate to […]
Here is a report from the N.J.L.J. Excerpt: The New Jersey Assembly has passed legislation that prohibits companies from inserting language in consumer contracts that requires arbitration of disputes in forums outside of the state. The Assembly, on Monday, approved the bill, A1515, in a 49-20 vote. The vote was split along party lines, with […]
by Paul Alan Levy During the 2016 election cycle, the slogan “Keep America Great” emerged as a counterweight to the Make America Great Again slogan on which candidate Donald Trump was campaigning. A fellow named Andreas Mueller tried to capitalize on that development by reserving the slogan as his own trademark. The Trademark Office, properly […]
In addition to intervention in the suit mentioned by Jeff (below), 6 state attorneys general today moved to intervene in a federal district court case against the Accrediting Council for Independent Colleges and Schools (ACICS), an accreditor of for-profit colleges. The suit is a challenge by ACICS to the Department of Education decision to terminate […]
Here. The motion to intervene in the PHH case is here.
by Jeff Sovern Here, in the American Banker (free content). Cuccinellis is general counsel to the FreedomWorks Regulatory Action Center, and former AG for Virginia. Excerpt: Rather than tinkering with this regulatory monstrosity, let’s pursue a simpler course: simply eliminate the standalone agency. Most of the regulatory powers that the CFPB now wields were previously […]
Here. Pai, a Republican, has been critical of FCC interpretations of the TCPA (see here and here). Here's the perspective of ACA International, an industry organization : Of particular importance to the credit and collection industry, Pai has fiercely objected to the FCC’s more recent interpretations of the TCPA spearheaded by Wheeler. Authoring a hard-hitting […]
The Consumer Financial Protection Bureau is still at work. Yesterday, the CFPB took separate actions against CitiFinancial Servicing and CitiMortgage, Inc. "for giving the runaround to struggling homeowners seeking options to save their homes. The mortgage servicers kept borrowers in the dark about options to avoid foreclosure or burdened them with excessive paperwork demands in […]
So reports Law360's Evan Weinberger on Twitter here.
Here's the press release: Jan. 24, 2017— An 18-month study of community approaches to controlling payday lending practices concludes there are 10 lessons for those interested in positively affecting local ordinances, according to researchers from the University of Utah and University of New Mexico. In “The Power of Community Action: Anti-Payday Loan Ordinances in Three […]