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New “caremark on steroids” duties for consumer financial services boards

USA - August 9 2012 The Comptroller of the Currency (OCC) and the Consumer Financial Protection Bureau (CFPB) recently entered into Stipulation and/or Consent Orders with a well known bank regarding alleged consumer finance law violations by its third party service providersi retained to market and sell the bank’s add-on credit card services.

Summary of corporate governance changes in the Dodd-Frank US financial regulatory reform act

USA - July 30 2010 On July 21, 2010, President Obama signed into law the 2300-page Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Act").