The CFPB announced its first public enforcement action – a consent order against a bank alleging violations of Federal consumer protection laws for deceptive marketing of payment protection and credit monitoring products.

The CFPB recently denied a petition to set aside a civil investigative demand.

The CFPB released its Small Business Compliance Guide to complying with the new remittance transfer rule set to take effect on February 7, 2013 (see August 7, 2012 Alert).

The CFPB released a study comparing credit scores sold to creditors and those sold to consumers.

The FTC announced that it entered into a settlement with a consumer reporting agency charged with improperly selling prescreened lists of consumers who were late on mortgage payments, in violation of the FTC Act and the Fair Credit Reporting Act.

The United States Court of Appeals for the Sixth Circuit affirmed a lower court’s decision dismissing plaintiff’s action to set aside a foreclosure sale based on alleged violations of the non-judicial foreclosure process in Michigan.

In "Lanfear v. Home Depot, Inc.", Case No. 10-13002 (11th Cir. May 8, 2012), the U.S. Court of Appeals for the Eleventh Circuit adopted the presumption of prudence.

Last week, a federal court upheld a new National Labor Relations Board ("Board") rule that employers subject to the National Labor Relations Act ("NLRA") must post notices of employee rights under federal labor law, including employees’ right to join or not join a union.

The CFTC issued a proposed order that would provide temporary exemptive relief from certain requirements in the Commodity Exchange Act (the "CEA") resulting from the Dodd-Frank Act that otherwise become effective on July 16, 2011 under the terms of the Act.

The CFTC issued a notice proposing to amend its July 14, 2011 order providing temporary exemptive relief from certain requirements in the Commodity Exchange Act (the "CEA") resulting from the Dodd-Frank Act that otherwise became effective on July 16, 2011 under the terms of the Act.

FINRA issued Regulatory Notice 13-18 to provide guidance to firms on communications with the public concerning unlisted real estate investment programs.

The FRB issued an interim final rule (the "Interim Final Rule") that allows bank holding companies ("BHCs") organized as S Corps and BHCs organized in mutual form to exclude subordinated debt issued to the Department of the Treasury ("Treasury") under the Small Business Lending Fund from treatment as debt for purposes of the debt-to-equity standard under the FRB’s Small Bank Holding Company Policy Statement (the "Policy Statement").

The SEC and CFTC (the "Commissions") jointly issued proposed rules that would (a) require financial institutions and creditors subject to a Commission’s jurisdiction to develop and implement a written identity theft prevention program addressing identity theft in connection with certain existing accounts or the opening of new accounts and (b) establish special requirements under which a credit or debit card issuer subject to a Commission’s jurisdiction would have to assess the validity of change

On September 12, 2012, CalPERS’ general counsel released a public statement setting forth CalPERS’ legal position on the limitations of the power of the bankruptcy.

The surge in municipal bankruptcies across the country, including three in California since January, has been unsettling for bond market participants.

The past few years have seen a number of class claims brought against banks in connection with securities lending programs (reported in the June 2009 ERISA Litigation Update).

The U.S. District Court for the Northern District of California recently denied class certification in an action alleging that Facebook, Inc. breached its advertising contracts.

The U.S. District Court for the District of Columbia recently denied class certification in an action under the Electronic Fund Transfer Act.

The CB Insights report on private tech company M&A in 2012 just came out and there are some very interesting trends highlighted by the report.

On June 18, 2012, the IRS issued Revenue Ruling 2012-17, which holds that shares in a money market mutual fund qualify as "cash items".