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No NORA? No Problem: Federal District Court Strikes Affirmative Defense Based on Absence of NORA Process in CFPB Case
  • Mayer Brown LLP
  • USA
  • May 25 2016

On May 23, 2016, a federal district court ruled that the Consumer Financial Protection Bureau's (CFPB) failure to provide a defendant with advance


Federal Reserve Board Previews Capital Rules for Insurers Subject to Federal Supervision
  • Mayer Brown LLP
  • USA
  • May 24 2016

On Friday, May 20, 2016, Daniel Tarullo, a member of the Board of Governors of the US Federal Reserve System (Board), previewed a conceptual proposal


Nonprofits Bring First Amendment Challenge to TCPA for Restricting Political Speech
  • Mayer Brown LLP
  • USA
  • May 24 2016

Legal Update The Telephone Consumer Protection Act (TCPA) imposes liability for communicating certain messages in certain kinds of ways to certain


SEC Provides Guidance on Non-GAAP Financial Measures
  • Mayer Brown LLP
  • USA
  • May 24 2016

It is no secret that use of non-GAAP financial measures, which are financial measures that are neither calculated nor presented in accordance with US


Title VIILimitations Period for Constructive Discharge Claims
  • Mayer Brown LLP
  • USA
  • May 23 2016

A federal civil servant claiming a violation of Title VII of the Civil Rights Act of 1964 must "initiate contact" with the EEOC "within 45 days of


Second Circuit Clarifies Section 11 Liability Standard for Auditors
  • Mayer Brown LLP
  • USA
  • May 23 2016

On May 20, 2016, the US Court of Appeals for the Second Circuit affirmed the dismissal of federal securities claims, under 10(b) and 11, against


US Government Eases Restrictions on Doing Business with Burma (Myanmar)
  • Mayer Brown LLP
  • Myanmar, USA
  • May 20 2016

On May 18, 2016, the US Treasury Department's Office of Foreign Assets Control (OFAC) took steps to further ease economic sanctions against Burma (or


The Wait Continues: CFPB Further Delays Prepaid Account Rule
  • Mayer Brown LLP
  • USA
  • May 20 2016

According to the CFPB’s latest rulemaking agenda, the agency is pushing back to “this summer” release of the final rule on prepaid accounts. The


Title VIIAttorneys’ Fees for Prevailing Defendants
  • Mayer Brown LLP
  • USA
  • May 19 2016

A defendant defeating a Title VII action is entitled to attorneys' fees when the plaintiff's claim was "frivolous, unreasonable, or groundless," or if


CFPB and Prudential Regulators Issue Guidance on Deposit Reconciliation Practices
  • Mayer Brown LLP
  • USA
  • May 19 2016

The Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau (“CFPB”), the Federal Deposit Insurance Corporation