Alan S. Kaplinsky

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Last week, the OCC, Federal Reserve Board, and FDIC issued proposed guidance for banking organizations on managing risks associated with third-party relationships, including those with financial technology-focused entities such as bank/fintech sponsorship arrangements.  The agencies have made clear that if banks have ineffective risk management processes, agency examiners will closely scrutinize their third-party risk management…

Today marks the tenth anniversary of our blog, Consumer Finance Monitor.  Originally named CFPB Monitor, we launched our blog to coincide with the CFPB’s first day.

Over the past ten years, our blog has received numerous awards and been recognized as a source of authoritative analysis and commentary.  Since launching our blog, it has been…

Phil Yannella, Ballard Spahr litigation partner and Practice Leader of Ballard’s Privacy & Data Security Group, recently authored a treatise on data breach and privacy litigation.  The book, Cyber Litigation: Data Brach, Data Privacy & Digital Rights, is published by Thomson Reuters and is available now for purchase.  The publication of CyberLitigation comes at an…

On June 11, the American Bankers Association and the Consumer Bankers Association, represented by Ballard Spahr, filed an amicus brief in support of a petition for certiorari asking the Supreme Court to review the Ninth Circuit’s ruling in HRB Tax Group, Inc. v. Snarr that the Federal Arbitration Act (FAA) does not preempt California’s McGill…

On May 26, 2021, the House Financial Services Committee’s Subcommittee on Oversight and Investigations will hold a hearing, “Consumer Credit Reporting: Assessing Accuracy and Compliance.” The witnesses include representatives from the “big three” consumer reporting agencies and the National Consumer Law Center.  Based on the Committee memorandum, lawmakers are likely to focus on…

On May 19, 2021, the House Financial Services Committee will hold a hearing, “Oversight of Prudential Regulators: Ensuring the Safety, Soundness, Diversity, and Accountability of Depository Institutions.”  The scheduled witnesses are:

  • Todd Harper, Chairman, National Credit Union Administration
  • Michael Hsu, Acting Comptroller of the Currency, Office of the Comptroller of the Currency
  • Jelena McWilliams,

…

Today, April 20, the Senate Committee on Commerce, Science, and Transportation will hold a hearing, “Strengthening the Federal Trade Commission’s Authority to Protect Consumers.”  The four currently-serving FTC Commissioners are scheduled to appear as witnesses.

The hearing will address the FTC’s endangered consumer redress authority, its anti-fraud efforts during the pandemic, and its…

On April 21, the Senate Committee on Commerce, Science, and Transportation will hold a hearing on President Biden’s nomination of Lina Khan to serve as FTC Commissioner.  (Ms. Khan’s nomination will be considered together with President Biden’s nomination for NASA Administrator.)

Ms. Khan is currently an associate professor at Columbia Law School.  If confirmed by…

Despite wide-spread expectations that the full Senate will confirm Rohit Chopra as CFPB Director before the end of this month, we now understand that the Biden Administration is likely to seek a delay in Mr. Chopra’s confirmation until it fills the FTC vacancy created by the resignation of former Chairman Joseph Simons. 

Mr. Simons’ resignation …