Catagory:Bureau of Consumer Financial Protection (CFPB)

By: Jon Eisenberg

Few agencies have generated as much controversy as the Consumer Financial Protection Bureau. The brainchild of Senator Elizabeth Warren when she was still a professor and the product of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the agency is charged with being the cop on the beat for consumers much like the SEC is the cop on the beat for investors. Among its goals are preventing consumers from being subject to “deceptive,” “unfair,” and “abusive” practices and holding alleged wrongdoers accountable by bringing enforcement cases against those the CFPB believes have violated consumer financial protection laws. Consumers have flooded it with over 300,000 complaints since the agency began operations less than three years ago, and those have already proven to be a fertile source of information for its examination and enforcement programs.

To read the full alert, click here.

K&L Gates is pleased to announce the publication of its Global Government Solutions® 2014 Annual Outlook.

Our seventh edition of the Global Government Solutions® series highlights increased government involvement in global commerce and provides the latest regulatory information corporate leaders need to navigate the intersection of business and government. The K&L Gates Global Government Solutions® 2014 Annual Outlook is a collection of 50 insightful articles to help you do just that, including:

• Former U.S. Congressmen Bart Gordon and James T. Walsh on congressional deadlock
• The European Union as a business partner
• A more aggressive Securities and Exchange Commission
• New hedge fund regulations
• International trade negotiations
• Resources nationalism in emerging nations
• Tax reform
• Competition and compliance risks for government contractors

To view the report, click here. For more information on our Global Government Solutions® practice, please visit our website.

Members of the Consumer Financial Services Group will host a webinar series during February and March.

On February 26, 2014 from 2:00 -3:30 p.m. EST, the group will host “Navigating the Legal Landscape Between Broker and Correspondent.” Presenters include: Costas A. Avrakotos, Holly Spencer Bunting, Jonathan D. Jaffe, Kris D. Kully, Stephanie C. Robinson, David A. Tallman Read More

The Consumer Financial Services Group is pleased to welcome four new partners to the practice, effective March 1.

Soyong Cho focuses her practice on commercial disputes.

Kris D. Kully advises consumer financial services providers regarding federal and state laws and regulations, including a recent focus on new mortgage origination and compensation regulations of the Consumer Financial Protection Bureau.

Kerri M. Smith advises financial service providers on issues relating to mortgage servicing and mortgage lending, and regularly counsels clients on requirements applicable to default servicing and loss mitigation.

Robert W. Sparkes, III  has extensive experience in complex civil and commercial litigation, including federal and state class action litigation.

We extend our warmest congratulations to this fine group of individuals.

The Consumer Financial Services Group is pleased to share our 2013 Highlights Activities report. The report provides highlights of firm achievements, practice group events, representative matters and client publications. Please click here to view the report.

Washington, D.C. – The Washington, D.C., office of global law firm K&L Gates LLP welcomes Jonathan N. Eisenberg as a partner in the government enforcement practice and Randolph M. Goodman, J. Barclay Collins, and Michelle A. Wakino as partners in the tax-exempt organizations practice. Eisenberg returns to K&L Gates from UBS Wealth Management Americas while Collins, Goodman, and Wakino join the firm from Wilmer Cutler Pickering Hale and Dorr LLP.

To read the full press release, click here.