REFinBlog

Editor: David Reiss
Brooklyn Law School

August 8, 2017

Tuesday’s Regulatory & Legislative Roundup

By Jamila Moore

  • Mayors across the country flocked to America’s Capitol to give Congress a message, “We need help.” Specifically, the group seems most displeased with health care and tax reform. Many believe the two groups should work more collaboratively and move away from the secret legislation of the Trump Administration.
  • Everyone is receiving a payout from Wells Fargo. This week, the Department of Veteran Affairs negotiated a settlement with the troubled bank regarding their interest rate veteran refinancing practices. The bank allegedly collected millions in unauthorized fees on these loans and will settle the issue with a $108 million settlement agreement.

August 8, 2017 | Permalink | No Comments

August 7, 2017

Monday’s Adjudication Roundup

By Jamila Moore

  • An Ohio Businesswoman pled guilty to her role in a $70 million Ponzi scheme. Connie Apostelos worked with her husband to defraud over 400 victims. Apostelos plead guilty to money laundering which caused investigators to lose over $20 million in funds. The couple used the money for personal luxuries rather than future investments.
  • New Jersey’s Department of Environmental Protection previously approved the building of an apartment complex in a unique wetlands region. A New Jersey Appellate panel upheld the agency’s choice to approve the development citing the agency’s review of the project as sound and thorough.

August 7, 2017 | Permalink | No Comments

August 4, 2017

Friday’s Government Reports Roundup

By Jamila Moore

August 4, 2017 | Permalink | No Comments

August 3, 2017

Thursday’s Advocacy & Think Tank Roundup

By Jamila Moore

August 3, 2017 | Permalink | No Comments

August 1, 2017

Tuesday’s Regulatory & Legislative Roundup

By Jamila Moore

  • Congress plans to repeal the Consumer Financial Protection Bureau’s new arbitration rule. As a result, the Office of the Comptroller of the Currency will not intervene in trying to overturn the rule. Due to Congress’s power under the Congressional Review Act, the agency is permitted to disprove regulatory rules within 60 days of enactment.
  • The Consumer Financial Protection Bureau (CFPB) issued a warning to companies attempting to use costly pay-by-phone options. The CFPB does not want to customers to be misled surrounding pay-by-phone options. Particularly, the agency does not want customers to be “in the dark” about less costly options.

August 1, 2017 | Permalink | No Comments