(Photo Credit: White House, Public Domain) Justice Brett Kavanaugh is expected to vote to kill the Consumer Financial Protection Board’s single-director structure in Seila Law. v. CFPB, in a major test of executive power the High Court agreed last week to tackle this term. The Court announced on Wednesday it invited former Solicitor General … [Read more...]
Kamala Harris Takes Off the Gloves with JPMorgan/Chase CEO, Jamie Dimon
U.S. Senator Kamala Harris speaking with attendees at the 2019 National Forum on Wages and Working People (Photo Credit: Gage Skidmore, CC 2.0) This is not the first time California Senator and Presidential contender, Kamala Harris, has taken off the gloves with JPMorgan Chase CEO, Jamie Dimon. In her January, 2019 book, “The Truths We Hold: … [Read more...]
Enforcement of Consumer-Protection Laws Is Down
During his campaign, Donald Trump claimed that he would not let “Wall Street get away with murder,” but now, well over two years later, the Trump Administration is allowing several industries to get away with anything and everything. Consumers, on the other hand, are suffering as law enforcement activity at three of the largest consumer protection … [Read more...]
U.S. Supreme Court Rejects Challenge To Consumer Protection Bureau
On Monday the U.S. Supreme Court turned away a Texas bank’s constitutional challenge to the structure of the U.S. Consumer Financial Protection Bureau, passing up a case that could have led to more presidential power over an independent agency that President Donald Trump’s administration already has weakened, According to Reuters. The decision … [Read more...]
2018: A Year of Corporate Misbehavior and Government Apathy
As many Americans look forward to a new year and a new political environment in Washington D.C., it's worth taking one final look back at the year that was. Specifically, 2018 was a year when our biggest, wealthiest corporations seemed to feel free to engage in a staggering range of misconduct and misbehavior. Corporations have never exactly … [Read more...]
Justice Department Considers Kavanaugh Recusal in Challenge to CFPB
The Trump Administration’s Justice Department recently urged the U.S. Supreme Court to reject a case, State National Bank of Big Spring v. Mnuchin, challenging the Consumer Financial Protection Bureau's (CFPB) independent powers, as Justice Brett Kavanaugh would be forced to recuse himself. The Justice Department said it agrees with the bank’s … [Read more...]
Mick Mulvaney Purges CFPB Advisory Boards
Ever since Mick Mulvaney was appointed Acting Director of the Consumer Financial Protection Bureau (CFPB), he has implemented a slew of measures meant to strip the agency of its purpose and structure, leaving an empty stalk where once there was a substantial agency capable of enforcing meaningful regulations. After launching a top-to-bottom … [Read more...]
Congress Partially Repeals Dodd-Frank Act
A coalition of 33 red and swing-state House Democrats backed by banking interests joined moderate House Republicans in a 258-159 vote earlier in May to partially repeal the Dodd-Frank Act and replace it with the Economic Growth, Regulatory Relief and Consumer Protection Act. Donald Trump signed the House bill on May 23. He had tweeted that he … [Read more...]
Trump Administration Attacks Rules Meant to Protect Against Discrimination
The Fair Housing Act has suffered blows under the Trump Administration, with HUD Secretary Ben Carson leading the charge against certain Obama-era regulations requiring equitable treatment in the housing market. One rule, entitled the Affirmatively Furthering Fair Housing provision, was introduced in 2015 after several years of concerted studies … [Read more...]
New York Qui Tam Attorneys Weigh in on Record $83 Million Award for Bank of America Whistleblowers
Setting the stage for future successful whistleblowing litigation, New York City qui tam attorneys, Adam Pollock and Steve Cohen, of newly-minted Pollock Cohen LLP, weighed in on Monday’s SEC record $83 million award to three Bank of America’s/ Merrill Lynch executives for holding up to $58 billion a day in a clearing account that should have been … [Read more...]
