Consumer Financial Protection Bureau Fall 2012 Quarterly Update

Consumer Financial Protection Bureau Fall 2012 Quarterly Update

Nov 02, 2012

Article

Brownstein Client Alert, November 2, 2012

Since the Consumer Financial Protection Bureau's (CFPB) first enforcement action on July 18, 2012 ordering Capital One to pay $210 million for deceptive marketing tactics, the CFPB has dominated headlines for similar actions against Discover Bank, and American Express totaling $313 million. Headlines, however, are just the tip of the iceberg. Which is why the Brownstein Hyatt Farber Schreck, LLP CFPB Task Force focuses on what is driving the headlines. We are constantly watching the enforcement probes, the court filings, and the proposed rule-making. This quarterly update will address some of the most significant recent developments:

  • Increased Number of Complaints
  • Enforcement Actions
  • Amicus Brief Rulings
  • Challenging Subpoenas
  • Student Loans Are Source of Unsecured Consumer Debt

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Richard B. Benenson Shareholder T 303.223.1203 rbenenson@bhfs.com
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