Through its Project Catalyst, the CFPB’s initiative for facilitating innovation in consumer-friendly financial products and services, the CFPB has announced a new research pilot using insights from behavioral economics and an American Express trial program to evaluate the effectiveness of certain practices to encourage prepaid card users to develop regular saving behavior.
In the following guest post, Susanna Buergel, Charles Davidow, Andrew Ehrlich, Brad Karp, Daniel Kramer, Richard Rosen and Audra Soloway, all of whom are litigation partners at Paul, Weiss, Rifkind, Wharton & Garrison LLP who are members of the Firm’s Securities Litigation Practice group explain the significance of the Second Circuit’s decision United States v. Newman.
On December 11, the Consumer Financial Protection Bureau released a report and accompanying press release regarding the intersection of medical debt and credit reporting. This report reveals the staggering impact medical debt has on the credit reports of millions of Americans.
Bribing foreign public officials used to be legal in the entire developed world. It was first outlawed by the U.S. by the Foreign Corrupt Practices Act in 1977, but this law was never robustly enforced until about 2005. As for the rest of the developed world, it wasn’t until 1999 that the OECD agreed on a convention that asked member countries to pass into the law something like the FCPA.
As I noted in a post last week, in a speech earlier this month in which she outlined the steps bank boards can take to address cybersecurity issues, Sarah Raskin, the second-ranking official at the U.S. Department of Treasury, laid out the reasons why banking institutions should be investing in cyber insurance.
The employer mandate provisions of the Affordable Care Act – better known as Obamacare – are among the more controversial parts of the legislation.
The tug of war continues between pension plan participants and outside creditors. As a result, doing business with troubled municipalities may end up costing creditors time, money and headaches.
In a speech on December 11, 2014, SEC Chair Mary Jo White announced three broad “proactive initiatives” to address the risks of “increasingly complex portfolio composition and operations” in the asset management industry.
In a December 10, 2014 speech, Norm Champ, the Director of the SEC’s Division of Investment Management, offered a glimpse at the top 10 industry lessons learned in 2014.
Deputy Treasury Secretary Sarah Raskin, who recently spoke at the Texas Bankers’ Association Executive Leadership Cybersecurity Conference, provided bank executives and boards some guidance on preventing, preparing for and responding to cyberattacks.