Regulatory Update

by Jennifer Monty Rieker, Esq. On July 21, 2011 the Consumer Financial Protection Bureau (CFPB) officially launched.  Signed into law in July 2010, the CFPB is a division of the Federal Reserve, but is completely independent of the Federal Reserve’s Board of Governors. The CFPB is tasked with enforcement of the Fair Debt Collection Practices…

Interchange at a Crossroads

The dust is still settling around the July 29, 2011 passage of the final version of the Durbin Amendment to the Dodd-Frank Wall Street Reform and Consumer Protection Act, and it is unclear whether credit unions will consider themselves victors or victims. A cap on debit interchange fees that was originally proposed at 12 cents…

Online Presence and Out of State Jurisdiction

In all likelihood, most business people don’t really think much about jurisdiction or venue.  These are legal concepts that someone may think about in terms of where a lawsuit would be filed.  A lawyer, on the other hand, may think of jurisdiction or venue as being significant tools in their litigation arsenal or a quagmire…

NCUA Announces Personnel and Leadership Changes

By David S. Brown, Esq. On August 1, 2011, the National Credit Union Administration (“NCUA”) implemented five senior personnel changes. Robert M. Fenner, the NCUA’s long-time general counsel has retired Michael J. McKenna, previously the NCUA’s deputy general counsel, is the NCUA’s new general counsel Melinda A. Love, formerly the director of the Office of…