The CFPB extended the comment period to June 29, 2012 for the Notice and Request for Information on the Impact of Overdraft Programs on Consumers.

The Consumer Financial Protection Bureau issued an interim final rule that establishes its procedures for conducting investigations.

The Consumer Financial Protection Bureau issued an interim final rule that establishes its practices for adjudication proceedings.

The CFPB launched an inquiry into how it should study arbitration clauses and agreements between financial service companies and consumers.

The CFPB is seeking comment on its information collections for the following: Financial Education Program; SAFE Act (Regulation G); Truth in Savings (Regulation DD); and the Fair Credit Reporting Act (Regulation V).

In a recent shareholder derivative complaint filed in the U.S. District Court for the Southern District of New York, shareholders of JPMorgan Chase & Co. ("JPMorgan") brought a derivative action claiming breach of fiduciary duty and unjust enrichment by the directors of JPMorgan in connection with JPMorgan’s $88.3 million settlement with OFAC to resolve "potential civil liability for apparent violations" of regulations and executive orders administered and enforced by OFAC.

The Department of Labor recently issued Field Assistance Bulletin 2013-02A under the Employee Retirement Income Security Act of 1974.

Robert Schoshinski, Assistant Director of the Division of Privacy and Identity Protection of the FTC, testified before the House Subcommittee on Financial Institutions and Consumer Credit.

The GAO released a report on the regulatory oversight of the Servicemember Civil Relief Act, which provides protections to active duty servicemembers, in the foreclosure context.

The SEC issued a press release announcing that it has established supervisory arrangements with financial regulators of the member states of the European Union and the European Economic Area, as part of long-term strategy to improve the oversight of certain entities in the asset management industry that operate across national borders.

The SEC issued a 517-page release proposing (i) amendments to existing rules and (ii) new rules, that would apply to credit rating agencies registered with the SEC as nationally recognized statistical rating organizations ("NRSROs").

The SEC has extended the July 14, 2011 compliance date for certain provisions of Rule 15c3-5 under the Securities Exchange Act of 1934. Rule 15c3-5 requires brokers or dealers with access to trading securities directly on an exchange or alternative trading system ("ATS") and broker-dealer operators of an ATS that provide access to trading securities directly on their ATS to a person other than a broker-dealer, to establish, document and maintain a system of risk management controls and superviso

The Tenth Circuit held that a borrower’s written notice of rescission within TILA’s three-year rescission period is insufficient to effectively exercise or preserve the right to rescind, when the borrower does not also timely bring an action for rescission.

In Frey, the plaintiffs sought to represent a putative class of people who claimed to have been overcharged by the defendant Bekins, claiming that the overcharges stemmed from a company policy.

The U.S. District Court for the Southern District of New York recently denied a motion seeking certification of a class of purchasers of Freddie Mac’s Series Z preferred stock in a suit against Freddie Mac’s former CEO Richard Syron and former CFO Anthony Piszel. In re Fed. Home Loan Mortg. Corp. Sec. Litig., 2012 WL 1028642 (S.D.N.Y. Mar. 27, 2012).

The OCC proposed guidance on deposit-related consumer credit products including automated overdraft protection and direct deposit advance programs.

In recent fiscal cliff discussions, President Obama has floated the idea of a retroactive 28% cap on municipal bonds.

Following its Memorial Day recess, the U.S. Senate has taken up consideration of H.R. 4213, the bill containing the proposed changes to the taxation of carried interest as a revenue offset, passed by the House of Representatives on May 28.

Following its Memorial Day recess, the U.S. Senate has taken up consideration of H.R. 4213, the bill containing the proposed changes to the taxation of carried interest as a revenue offset, passed by the House of Representatives on May 28.

The Federal Transit Administration late last month released new evaluation criteria for transit projects vying for funds from the New Starts and Small Starts programs.