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A Litigator’s KISS Takeaways from CFPB’s Summer 2018 Supervisory Highlights

September 12, 2018

Authors

Douglas Thompson

A Litigator’s KISS Takeaways from CFPB’s Summer 2018 Supervisory Highlights

September 12, 2018

by: Douglas Thompson

KISS. An acronym first utilized in military equipment design in the 1960’s, “Keep it Simple Stupid.” Litigators rely on KISS in formulating trial themes and presentations to juries. Simple messages resonate. In that vein, I offer three KISS takeaways from the Bureau of Consumer Financial Protection’s Supervisory Highlights, Issue 17, Summer 2018.

KISS #1: Details Matter. 

On two key levels: (a) your business compliance operations and consumer interactions, and (b) in the Bureau’s supervision and examination conclusions. Taking

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CFPB Mulvaney Moments

March 6, 2018

Authors

Douglas Thompson

CFPB Mulvaney Moments

March 6, 2018

by: Douglas Thompson

Enforcement of the Law, Quantitative Impact Analysis & Other Gems

Last week CFPB Acting Director Mick Mulvaney had a busy speaking calendar in Washington, D.C. and we all should be listening. He addressed the Credit Union National Association (CUNA)’s Government Affairs Conference on Tuesday, February 27th and the National Association of Attorneys General (NAAG) Winter Meeting on Wednesday, February 28th. While there were differences in the two presentations because of the respective audiences, Mulvaney’s strategic themes were clear.

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New CFPB Rule Prohibits Class Action Waivers

July 17, 2017

Authors

Jed White, Alfred Shaumyan and Douglas Thompson

New CFPB Rule Prohibits Class Action Waivers

July 17, 2017

by: Jed White, Alfred Shaumyan and Douglas Thompson

On July 10, 2017, the Consumer Financial Protection Bureau (CFPB) released a rule prohibiting class action waivers in certain pre-dispute arbitration agreements. The rule drastically impacts arbitration clauses currently used by many financial products and services providers in their consumer agreements.

The rule has three main components. First, the rule prohibits providers from using

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