Year: 2021

The Sixth Circuit Court of Appeals is set to opine on whether calls made to an individual using an automated telephone dialing system before July 6, 2020 relinquished the court’s subject matter jurisdiction over the claims. Lindenbaum v. Realgy, LLC, No. 20- 4252 (appellant’s opening brief, filed Jan. 25, 2021)…Read More

In a forthright blog post, the Director of the Bureau of Consumer Protection, Andrew Smith, explained the Federal Trade Commission’s (“FTC”) approach to bringing enforcement actions against companies that assist, facilitate or participate with their customers, vendors or business partners in misconduct…Read More

The Office of the Comptroller of the Currency (“OCC”) released another Interpretive Letter relating to a nation bank’s use of cryptocurrency and blockchain technology. Interpretive Letter 1174 provides that national banks and federal savings associations may use independent node verification networks (“INVN”) and stablecoins to carry out permissible payment activities…Read More

On December 18, 2020, the chief counsel of the Office of the Comptroller of the Currency (“OCC”) published a letter detailing the OCC’s comprehensive interpretation of the federal preemption standard and related procedural requirements under the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”) (codified at 12 U.S.C. § 25b, “Section 25b”). See OCC Chief Counsel’s Interpretation: 12 U.S.C. § 25b, Interpretation Letter No. 1173 (Dec. 18, 2020)…Read More

Recently, the Consumer Financial Protection Bureau (“CFPB”) released two opinions that clarify the types of earned wage access (“EWA”) programs that do not involve the offering or extension of “credit” regulated by Regulation Z.

On November 30, the CFPB issued an advisory opinion to resolve regulatory uncertainty regarding the applicability…Read More