New York State’s Department of Financial Services (DFS) recently unveiled two new divisions with broad enforcement authority focused on consumer protection, financial enforcement, and cybersecurity. Financial service providers should take note as New York and other states continue to shore up their enforcement capabilities. Consumer Protection & Financial Enforcement DFS’ highly touted Consumer Protection and […]
Consumer Financial Protection Bureau (CFPB)
Ninth Circuit Finds CFPB’s Structure Constitutional
The Ninth Circuit last week affirmed a district court’s ruling upholding the constitutionality of the structure of the Consumer Financial Protection Bureau (“CFPB”). The case stems from a CFPB investigation into whether Seila Law LLC, a firm that provides debt-relief and other services, violated the Telemarketing Sales Rule. Seila Law had refused to comply with […]
Alston & Bird Publishes Article in “Mortgage Compliance Magazine” Addressing Key Debt Collection Challenges Raised Under the Fair Debt Collection Practices Act as a Major Focus for Industry in 2019
In February 2019, Alston & Bird Partner Nanci Weissgold and Senior Associate Anoush Garakani, wrote an article published in “Mortgage Compliance Magazine,” in anticipation of the Consumer Financial Protection Bureau’s (“CFPB”) recent Proposed Rule implementing the FDCPA. The article brings to the attention of the mortgage servicing industry the complex issues faced when applying the […]
Alston & Bird Issues Client Advisory on First-Known Decision Rendered by U.S. District Court, S. D. of Ohio (Eastern Division) Challenging CFPB’s ATR/QM Standards Favors Mortgage Industry
Alston & Bird Issues Client Advisory on First-Known Decision Rendered by U.S. District Court, S. D. of Ohio (Eastern Division) Challenging CFPB’s ATR/QM Standards Favors Mortgage Industry On April 24, 2019, Alston & Bird Partner Stephen Ornstein issued a Client Advisory to inform clients of an apparent case of first impression decided by the U.S. […]