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Financial Reform Negotiations Conclude
After working through the night, the Congressional conference committee tasked with negotiating a final financial reform bill voted 27-16 to approve the bill and send it back to each chamber for a final vote on the…
Recently Commenced California Class Action May Impact Exposure Faced By Financial Institutions Involved With Federal Student Loans
If your company is one of the many companies that participates in originating, guaranteeing or servicing student loans made under the Federal Family Education Loan Program (“FFELP”) you should be aware of a recent…
DOJ Reaches Landmark Settlement of Claims Regarding Racial Discrimination in Mortgage Lending
Last month, two subsidiaries of American International Group (“AIG”) agreed to pay $7.1 million to settle claims by the United States Department of Justice (“DOJ”) that the companies unlawfully charged African American…
State Regulators' Powers Over National Banks Reaffirmed by U.S. Supreme Court
Recently, the United States Supreme Court, in its decision styled Andrew M. Cuomo v. The Clearing House Association, L.L.C., No. 08-453, reaffirmed that federal banking regulations do not pre-empt states from…
Welcome to the Consumer Financial Services Blog
Which among the following businesses are potentially subject to consumer financial services laws, rules, and regulations? A. a retail clothing chain B. a bank or mortgage company C. an internet retailer D. a fast food…