Welcome to the Spring 2021 issue of Greenberg Traurig’s Financial Services Insights Newsletter. This newsletter reviews certain significant cases and legal developments affecting the financial services industry.
CFPB Intensifies Focus on Pandemic Mortgage Servicing
Over the last week, the Consumer Financial Protection Bureau (“CFPB” or the “Bureau”) has sharpened its focus on the mortgage servicing industry. Knowing that millions of mortgage borrowers will exit
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California’s Adoption of ‘Mini-CFPB’ Will Transform Consumer Financial Services Regulation in the State
On Sept. 25, 2020, California Gov. Gavin Newsom signed into law the California Consumer Financial Protection Law (CCFPL), which was passed by the California Legislature Aug. 31, 2020. The
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PPP Loan Forgiveness: What the Latest Guidance Means for You
On May 22, the Small Business Administration and the Treasury Department released its latest guidance in the form of two interim final rules on loan forgiveness: “Business Loan Program
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COVID-19 Economic Stimulus: Federal Reserve Expands Scope and Eligibility for Its Main Street Lending Program
On April 30, 2020, the Board of Governors of the Federal Reserve System (the Federal Reserve) announced changes to its Main Street Lending Program (MSLP) in response to feedback from
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Interagency Guidance for Financial Institutions on Coronavirus Disease-Related Loan Modifications
On Sunday night, March 22, 2020, the federal banking agencies (OCC, FDIC, NCUA, Federal Reserve), the Consumer Financial Protection Bureau and the State Conference of Bank Supervisors issued an Interagency
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FINRA’s 2020 Risk Monitoring and Examination Priorities Letter
On Jan. 9, 2020, the Financial Industry Regulatory Authority (FINRA) released its 2020 Risk Monitoring and Examination Priorities Letter, in which it identifies its areas of examination focus for
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Michele Stocker Quoted by the Florida Record Regarding the case of Bartram v. U.S. Bank
Michele Stocker, Greenberg Traurig co-chair of the Consumer Financial Services Litigation Practice, was recently quoted by the Florida Record regarding the ruling made in the case of Bartram
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Davos Report Envisions Blockchain Technology as Central to Global Banking
On Aug. 12, 2016, the World Economic Forum in Davos issued a report that predicts that distributive ledger systems, or blockchains, could enable banks to offer cheaper, faster and more
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