Credit Unions and Their Members
On May 5, 2016, the Consumer Financial Protection Bureau (CFPB) promulgated rules that, if enacted, would prohibit mandatory arbitration clauses. These clauses can prevent consumers from forming a class to…
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Compliance
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Building on the Success of the Past – The CFPB’s PWA Compliance Report
Pursuant to the Plain Writing Act of 2010 (PWA), members of the federal executive branch (“executive agencies”) are required to use plain language in documents that: Are necessary for obtaining…
Insurers: Ignore OFAC SDN Screening at Your Own Risk!
As global commerce, terrorism and financial crimes continue to rise in number and scope, it is critical for financial institutions and insurers to have adequate compliance programs in place to…
CFPB Proposes Controls on Third-Party Debt Collection Practices
Debt collection is big business. In the United States, the annual amount of debt collection, not including debt owed to the federal government, exceeds $13 billion dollars. Across the country,…
Dodd-Frank Act on the Block: House Financial Services Committee Proposes Changes
When the Obama government ascertained the complex causes that led to the “Great Recession” of 2007-2009, it enacted into law rules that would prevent the excessive risk-taking that created that…
What is EMV?
While still relatively new to the United States, Europay, MasterCard and Visa – more commonly known as EMV – is an important worldwide security standard for credit cards. The History…