Credit Bureau Nailed with $60 Million Verdict for FCRA Violations

Credit Bureau Nailed with $60 Million Verdict for FCRA Violations

TransUnion, one of the three main credit reporting agencies (CRAs) for administering most consumer credit information, lost a class action lawsuit recently for violations of the Fair Credit Reporting Act with a final verdict against the credit bureau totalling $60...
Trump Nominates Former HFS Chief Counsel to Run FDIC

Trump Nominates Former HFS Chief Counsel to Run FDIC

President Trump recently nominated James Clinger to serve on the board of the Federal Deposit Insurance Corporation (FDIC) beginning November 29th. The FDIC is an independent federal agency that insures bank deposits and supervises banking institutions. Clinger will...
UDAAP: CFPB’s Tool to Trample Tribal Sovereignty

UDAAP: CFPB’s Tool to Trample Tribal Sovereignty

The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 created the Consumer Financial Protection Bureau (CFPB) and granted the agency broad supervisory, enforcement, and rulemaking authority over financial service providers. Along with almost 20...
Treasury Issues Report On Financial Regulation Reforms

Treasury Issues Report On Financial Regulation Reforms

At the directive of the President, on June 12th the Department of the Treasury issued a report on revising regulations to create economic opportunities for the banking and finance industry. The report includes a number of proposals on changes that could be made to the...

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