Financial services report, Spring 2013 *

USA - March 12 2013
Despite numerous predictions of quick and easy passage, Congress finally passed and President Obama signed into law an amendment to the Federal…

Co-authors: Dwight Smith, Leonard Chanin, Obrea Poindexter, Richard Fischer, Charles M. Horn.

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D.C. Circuit hands the CFPB a setback? *

USA - January 30 2013
At the end of last week, the U.S. Court of Appeals for the District of Columbia Circuit issued its decision in Noel Canning v. National Labor…

Co-authors: Marc A. Hearron, Oliver Ireland, Jeremy R. Mandell, Richard Fischer.

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Financial Services Report, Winter 2012 *

USA - December 10 2012
On October 1, 2012, the CFPB brought its third major enforcement action against three American Express subsidiaries (“American Express”), requiring American Express to return $85 million to customers and pay approximately $14 million to the CFPB’s civil money penalty fund, with another $14 million in penalties to other regulators.

Co-authors: Leonard Chanin, Jim McCabe, Obrea Poindexter, Richard Fischer, Sean Ruff.

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CFPB warning and bulletin for nationwide specialty CRAs *

USA - November 30 2012
The Consumer Financial Protection Bureau (“CFPB”) has sent warning letters to several nationwide specialty consumer reporting agencies (“CRAs”), notifying the CRAs that the CFPB believes that the CRAs are not complying with the Fair Credit Reporting Act (“FCRA”) provisions designed to ensure easy consumer access to free annual credit reports and requiring a response within 30 days.

Co-authors: Matthew W. Janiga, Michael Miller, Richard Fischer.

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CFPB examination procedures for larger participants *

USA - September 5 2012
Today, the CFPB released its Examination Procedures for Larger Participants of the Consumer Reporting Market (“Procedures”).

Co-authors: Jim McCabe, Richard Fischer.

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