In this issue, we highlight the recent decision by the U.S. Court of Appeals for the D.C. Circuit to uphold a ruling by the CFPB as unenforceable; provide a glimpse inside the CFPB Enforcement Policies and Procedures Manual 2.0; deliver an in-depth analysis on the President's recent Executive Order on reducing regulation and controlling regulatory costs; and discuss a recent suit by state regulators challenging nonbank fintech charters. You will also find a list of recent industry events and upcoming industry events you may be interested in attending.
The U.S. Court of Appeals for the D.C. Circuit recently upheld a district court ruling that a civil investigative demand issued by the CFPB against the Accrediting Council for Independent Colleges and Schools is unenforceable. Venable represented Accrediting Council for Independent Colleges and Schools in both the initial proceeding and on appeal.
Despite facing significant legal challenges and a shifting political landscape, the CFPB is virtually unrestrained in its ability to launch investigations and threaten enforcement actions.
The President's recent Executive Order on reducing regulation and controlling regulatory costs represents the greatest potential change in federal regulatory policy since President Reagan's 1981 Executive Order on federal regulation first provided for White House oversight of the regulatory process.
The CSBS filed suit against the OCC in late April, alleging that the decision that it is empowered to create a charter for nonbank financial services providers is "far beyond the limited authority granted to it by Congress under the National Bank Act and other federal banking laws."
Consumer Finance Enforcement Activity in a New Administration
The presentation materials from our program, Consumer Finance Enforcement Activity in a New Administration, are available. View the corresponding slides here.
Government Investigations and Controversies: Key Legal and Communications Strategies for Nonprofits to Prepare for and Manage the Crisis
The presentation materials and recording from our program, Government Investigations and Controversies: Key Legal and Communications Strategies for Nonprofits to Prepare for and Manage the Crisis, are available. Listen to a recording of the program and view the corresponding slides, or download the presentation materials.
May 9, 2017: Individual and Executive Liability Panel at MBA's Legal Issues & Regulatory Compliance Conference 2017.
May 10-12, 2017: ETA Transact, the one show focused solely on the business of payments. Powered by Electronic Transactions Association (ETA), the world's largest payments industry trade group, it's the place where innovators gather to make the deals that shape the industry.
May 24, 2017: Federal Legal and Legislative Update at the 2017 National Association of Consumer Credit Administrators (NACCA) 2017 Annual Meeting and Regulators Training Symposium.
June 7, 2017: What's Changing in the Regulatory Environment? Hear From Your Federal and State Regulators at COMPLY2017 – The RegTech and Compliance Conference. Join Venable and other leading professionals interested in compliance, education, marketing and RegTech solutions. Save $100 off your registration with the discount code VENABLEVIP.
July 17, 2017: Regulatory Compliance in an Evolving Legal Landscape at the ACA International 2017 Convention and Expo.