CFPB and FTC Stop Two Payday Lending Scams

By | CFSL Bulletin | September 18, 2014

In separate suits brought by the Consumer Financial Practices Bureau (“CFPB”) and the Federal Trade Commission (“FTC”) federal courts have frozen the assets of two separate groups who allegedly defrauded consumers by creating unauthorized payday loans.

Freddie Mac Closes First Direct Purchase of a Tax-exempt Loan

By | Housing Plus | September 18, 2014
Freddie Mac Closes First Direct Purchase of a Tax-exempt Loan

Freddie Mac recently closed its first direct purchase of a tax-exempt loan.  The loan financed the acquisition and rehabilitation of a 417-unit senior housing community in Dayton, Ohio known as The Lakewoods.  The deal represents a notable milestone for the GSE, and a new, more cost-effective financing solution for participants in the affordable housing sector.

OMB Gives Go-ahead to CFPB Telephone Survey of Consumers for Arbitration Study

By | CFPB Monitor | September 18, 2014
OMB Gives Go-ahead to CFPB Telephone Survey of Consumers for Arbitration Study

Over the vigorous objections of industry trade groups, on September 4, 2014, the Office of Management and Budget (OMB) approved the CFPB’s request to conduct a national telephone survey of 1,000 credit card holders as part of its study of the use of mandatory pre-dispute arbitration agreements in connection with consumer financial products and services.

Director of SEC’s Division of Enforcement Comments On “broken Window” Philosophy

Director of SEC’s Division of Enforcement Comments On “broken Window” Philosophy

In a program held on September 15, 2014 sponsored by the Securities and Exchange Commission Historical Society on Current Issues in Broker-Dealer Enforcement, Andrew Ceresney, the Director of the SEC’s Division of Enforcement responded to questions concerning whether the Division was implementing a ‘broken window’ philosophy of enforcement.