On December 21, 2020, the CFPB issued its third consent order involving violations of Subpart B of Regulation E, 12 C.F.R. §§ 1005.30 to 1005.36, the Remittance Transfer Rule (“Remittance Rule”) in the last four months and fourth order since August 2019. This most recent consent order was issued against Envios de Valores La Nacional

The CFPB recently announced that it has issued a Compliance Assistance Statement of Terms Template (“CAST Template”) through its Compliance Assistance Sandbox Policy (“CAS Policy”) after receiving an application from Build Commonwealth, Inc. (“Commonwealth”).

The Commonwealth CAST Template can be used by employers as the basis for an application to the CFPB to obtain

New York Department of Financial Services (NYDFS) Superintendent, Linda A. Lacewell, recently wrote an Opinion Article in the New York Daily News, addressing the student lending industry. According to Lacewell, the Trump administration and Education Secretary Betsy DeVos have “dismantled critical consumer protections available to students” and “gutt[ed]” the Consumer Financial Protection Bureau’s student lending