On June 17, 2024, the FTC filed a federal court complaint against Adobe and two of its executives. The complaint alleges that Adobe deceived consumers by failing to adequately disclose
Continue Reading FTC Targets Adobe for Hidden Fees and Deceptive Subscription Practices
The Consumer Financial Protection Bureau (CFPB) and a coalition of trade-group plaintiffs filed dueling briefs last week over recusal standards in the Fifth Circuit lawsuit challenging the CFPB’s $8 credit
Continue Reading Court Considers Recusal Standards in CFPB 5th Circuit Suit Over Credit Card Late Fees
In the ongoing lawsuit between the U.S. Chamber of Commerce and bank trade groups including the Fort Worth Chamber of Commerce, Longview Chamber of Commerce, American Bankers Association, Consumer Bankers
Continue Reading 5th Circuit Says District Court Lacked Jurisdiction to Transfer CFPB Late-Fee Rule Suit Out of Texas
In response to the lawsuit filed by the U.S. Chamber of Commerce and bank trade groups including the Fort Worth Chamber of Commerce, Longview Chamber of Commerce, American Bankers Association
Continue Reading Banking Trade Groups Suing CFPB Over Late Credit Card Fees Must Transfer Case from Texas to DC
On March 7, the U.S. Chamber of Commerce and bank trade groups including the Fort Worth Chamber of Commerce, Longview Chamber of Commerce, American Bankers Association, Consumer Bankers Association, and
Continue Reading CFPB Sued By Industry Over Credit Card Late Fee Rule
On Feb. 16, 2024, the Consumer Financial Protection Bureau (CFPB) updated its internal supervisory appeals process for institutions seeking to appeal a compliance rating or an adverse material finding. This
Continue Reading CFPB Broadens Supervisory Appeals Process
By a 3-2 party-line vote, on Aug. 23, 2023, the Securities and Exchange Commission adopted some of the most significant new rules under the Investment Advisers Act of 1940, as
Continue Reading Private Fund Adviser Rulemaking![cybersecurity[1]](https://www.gtlaw-financialservicesobserver.com/files/2022/02/cybersecurity1.jpg)
On July 27, 2023, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation issued an interagency
Continue Reading Federal Banking Agencies Propose New Rules to Strengthen Capital Requirements for Large Banks
A holding subjecting Term Loan Bs to securities regulation would have a profound effect on the $1.4 trillion market for syndicated term loans and on financial institutions at a time of limited liquidity.
Continue Reading Are Syndicated Term Loans Securities Under Reves v. Ernst & Young? 2nd Circuit Solicits SEC Views