The Office of the Comptroller of the Currency (OCC) today released enforcement actions taken against national banks and federal savings associations (banks), and individuals currently and formerly affiliated with banks the OCC supervises.
We recently reported that, upon remand from the Supreme Court (after it ruled that the CFPB’s funding mechanism is Constitutional), the plaintiff-trade groups filed a petition for rehearing en banc in the Fifth Circuit in the CFSA v. CFPB case. In the petition, they requested the Fifth Circuit en banc to rehear other claims in their case attacking the remnants of the CFPB’s payday lending regulation which had earlier been rejected by the same Fifth Circuit panel of judges who held that the CFPB was unconstitutionally funded.
The Telephone Consumer Protection Act (TCPA) has not been updated in over 30 years. The Federal Communications Commission (FCC) has been asked by Congress to take “decisive action in addressing the escalating issue of fraudulent and scam text messages that target American consumers.” The TCPA restricts the hours in which telemarketers can call, prevents businesses from using prerecorded messages when calling homes, and using auto dialers for call and texts.
The Federal Trade Commission and the U.S. Department of Justice Antitrust Division (DOJ) are extending the deadline by 60 days for the public to comment on a joint Request for Information that seeks to identify serial acquisitions and roll-up strategies throughout the economy that have led to consolidation that has harmed competition. The new deadline to submit comments is now September 20, 2024.
Yesterday, the Consumer Financial Protection Bureau (CFPB or Bureau) filed a brief in the U.S. District Court for the Northern District of Texas in support of its motion to dissolve the preliminary injunction that has stayed the implementation of its credit card late fee rule.
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