Insights

Financial Services

CFPB Moves to Significantly Restrict the Use of Arbitration Clauses they Consider a "Free Pass"

By: Brett J. Ashton on October 7, 2015

The Consumer Financial Protection Bureau (the “CFPB” or the “Bureau”) took another step today towards effectively banning the use of arbitration clauses in financial services contracts with the release of their Proposal on Pre-Dispute Arbitration Agreements and its accompanying Discussion Issues…

Regulatory Agencies Issue Last Minute Guidance Regarding Implementing the Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosure Rule

By: Brett J. Ashton on October 5, 2015

The Truth in Lending Act (Regulation Z) and Real Estate Settlement Procedures Act (Regulation X) Integrated Disclosure Rule ("TRID" or the "Rule") became effective on October 3, 2015. In the weeks leading up to this already once delayed effective date, several financial services trade associations…