On July 18, 2014, a coalition of plaintiff-side lawyers and government watchdog groups proposed ways to strengthen the SEC whistleblower program in two petitions filed with the SEC.
Industry Trade Groups Seek More Time to Comment On CFPB Proposal to Disclose Consumer Complaint Narratives
Five prominent industry trade groups have sent a letter to the CFPB asking for at least 90 days to comment on the CFPB’s proposal to expand the complaint data that it publicly discloses in its Consumer Complaint Database to include consumer complaint narratives.
The advent of crowdsourcing has led to some incredible feats of entrepreneurism—the realization of products, restaurants and services that may have never seen the light of day. It’s also led to one man raising more than $50,000 just to make some potato salad. The thing is, non-serious campaigns—or even serious ones that fail to make good on promises—could face repercussions.
Last week, the New York State Department of Financial Services (NY-DFS) released its highly anticipated proposed BitLicense regulatory framework which addresses many of the problems that have plagued the virtual currency in the media over the last year.
U.S. Supreme Court’s Ruling On Argentine Debt Has Worldwide Implications for Foreign Investment and Debt Restructuring
The United States Supreme Court denied Argentina’s request for review of a Second Circuit court order that requires Argentina to pay nearly $1.4 billion by July 30 to certain holdout bondholders that did not participate in debt restructurings after Argentina’s 2001 sovereign debt default.
The Consumer Financial Protection Bureau has announced an initiative to allow consumers to contribute a public “narrative of their own experiences” when posting to the CFPB’s Consumer Complaint Database.
We recently wrote about a new Brookings Institution report which suggested that charges coming from various quarters, including the CFPB, that student loan debt is causing young adults to postpone home ownership are overblown.
The CFPB published a notice in the Federal Register today announcing that it will continue to take comments until August 22, 2014 on its plans to seek approval from the Office of Management and Budget “to conduct a mail survey of consumers to learn about their experiences interacting with the debt collection industry.”
The CFPB has issued its second Financial Literacy Annual Report to Congress. The report covers the CFPB’s activities to improve consumer financial literacy during the period from June 2013 through May 2014.