CFPB Encourages Financial Institutions to Improve Checking Account Access

By | Financial Services Blog | February 4, 2016
CFPB Encourages Financial Institutions to Improve Checking Account Access

In remarks delivered yesterday at a field hearing in Louisville, Kentucky, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray announced three actions the CFPB is taking to encourage financial institutions to expand access to checking accounts to the 10 million households it claims lack access to basic checking or savings accounts.

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Court in BP Oil Spill Litigation Denies Standing for Special Purpose Entities Created Solely for Litigation

A January 4, 2016 opinion in the Southern District of Texas by Judge Keith Ellison (“Op.”) in the In re: BP p.l.c. Securities Litigation, has taken up the issue of whether plaintiffs can properly assign their claims to entities created solely for the purpose of litigating those claims.

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