Posts tagged Financial Stability Oversight Counsel.
On May 22, 2018, the U.S. House of Representatives passed S. 2155, titled The Economic Growth Regulatory Relief and Consumer Protection Act ("Act"). This was the penultimate legislative hurdle for the Act, which now only requires the President's signature to become law. The President is expected to sign the Act into law in the very near future.
The Act has a number of important regulatory relief provisions governing the lending and banking industry including:
- Reduces the level of regulatory oversight by the Financial Stability Oversight Counsel (FSOC) for banks with between ...
Tags: Banking, Congress, Economic Growth Regulatory Relief and Consumer Protection Act, fcra, Financial Stability Oversight Counsel, Lending, Protecting Tenants at Foreclosure Act, Regulatory, tila
Most constitutional challenges to agency action arise as a defense to an enforcement action. However, State National Bank of Big Spring, Texas (the "Bank") has led a constitutional challenge to the very existence and structure of the Consumer Financial Protection Bureau ("CFPB") from day one. The CFPB was created by the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act. The Bank's ambitious challenge to the constitutionality of the CFPB is rooted in five core arguments: 1) as an independent agency, the CFPB could not be headed by one person, Director Richard Cordray ...
Posted in: CFPB, Dodd-Frank Act
Tags: burr forman, cfpb, constitutional challenge, Consumer Finance Litigation & Arbitration, Consumer Finance Litigation blog, Consumer Financial Protection Bureau, Consumer Protection Act, D.C. Circuit Court of Appeals, dodd-frank, Dodd-Frank Wall Street Reform, Financial Stability Oversight Counsel, Richard Cordray, State National Bank of Big Spring Texas, United States District Court