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On May 16, 2024, the United States Supreme Court issued its highly anticipated decision in Consumer Financial Protection Bureau v. Community Financial Services Association of America , determining once and for all that the Consumer Financial Protection Bureau’s (“CFPB”) self-funding mechanism is not...
The Consumer Financial Protection Bureau continued its jurisdictional expansion April 17 when it issued a consent order against BloomTech Inc., which does business as Bloom Institute of Technology, a for-profit college for computer programming. According to the consent order, the school "offers...
A bipartisan group of representatives, led by Representatives Maria Elvira Salazar (R-FL) and Veronica Escobar (D-TX), have introduced an updated version of the Dignity Act (H.R. 3599) to fix what they call the nation’s fractured immigration system. The authors of the bill call it the first serious...
The Consumer Financial Protection Bureau continues to expand its presence into different businesses, including for-profit colleges. On April 17, 2024, the CFPB issued a consent order against a for-profit college for computer programming. According to the consent order, the school “offers training...
On April 18, 2024, the Federal Trade Commission (FTC), U.S. Department of Justice (DOJ) and the U.S. Department of Health and Human Services (HHS) collectively launched a new publicly accessible web portal to which members of the public can make reports of what they believe to be competition –...
The Third Circuit has a reputation as being a “plain meaning” court—meaning that it strictly construes and applies the words of a statute. Its January 19, 2024, opinion in In re FTX Trading Ltd., No. 23-2297 (3rd Cir. Jan. 19, 2024) (“ FTX”) is an example. The relevant facts in the “highly complex”...
On November 21, 2023, the Federal Trade Commission (FTC) approved a resolution allowing it to use “compulsory process in nonpublic investigations involving certain products and services that use or claim to be produced using artificial intelligence (AI) or claim to detect its use.” This allows the...
Certain immigrant investors using the EB-5 Program will not be restricted by Florida S.B. 264, creating restrictions on certain nationals owning direct or indirect real estate in the State of Florida.
On October 31, 2023, a Missouri jury awarded the plaintiff class in Sitzer/Burnett v. Nar, et al a $1.78 billion damages verdict against several real estate brokerage companies and the National Association of Realtors, based on a finding that the defendants conspired to fix commission being paid by...
A previous article discussed the rising prevalence of mediation in large chapter 11 bankruptcies, especially its use in previously rare scenarios such as plan confirmation. Part II considers a more traditional mediation topic: adversary proceedings.
I. Introduction: On October 3, 2023, the U.S. Supreme Court held oral argument in Community Financial Services Association of America Ltd. v. Consumer Financial Protection Bureau. This case has potentially widespread implications for the consumer finance industry, as it challenges the...
In September, the Consumer Financial Protection Bureau issued guidance on compliance with the Equal Credit Opportunity Act’s adverse action notice requirements for lenders utilizing artificial intelligence in their credit decision process. Specifically, the Bureau noted that lenders may not rely...