Jill K. Dolan

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OCC Requests Feedback on Principles of Climate-Related Financial Risk Management for Large Banks

By Jill K. Dolan on December 20, 2021

Posted in OCC, Regulatory and Enforcement

On December 16, 2021, the Office of the Comptroller of the Currency (“OCC”) released draft principles for climate-related financial risk management for large banks. Feedback must be submitted by February 14, 2022.

The OCC is looking for feedback on all aspects of the draft principles. Noting the emerging risks to banks and the financial system due to impending climate change, the OCC recognized both physical risks and transition risks to banks, particularly large banks (with over $100 billion in total consolidated assets).… Continue Reading

CFPB enters into proposed settlement of lawsuit filed against debt settlement company, alleging deception about fees and disclosures in violation of the TSR and CFPA

By Jill K. Dolan on May 20, 2021

Posted in CFPB, Litigation and Court Decisions

On May 17, 2021, the Consumer Financial Protection Bureau (“CFPB”) announced that it entered into a proposed settlement of its lawsuit filed in a Massachusetts federal district court against debt settlement company DMB Financial, LLC (“DMB”), alleging that the company engaged in deceptive acts or practices in violation of the Telemarketing Sales Rule (“TSR”) and the Consumer Financial Protection Act (“CFPA”). … Continue Reading