On November 13, 2014, the Consumer Financial Protection Bureau (“CFPB”) issued a Notice of Proposed Rulemaking (“NPR”) proposing new federal rules for prepaid accounts. The NPR contains extremely detailed requirements regarding required disclosures, consumer protections, and credit features. Moreover, the products covered by these requirements are extremely broad, encompassing not […]
Publications
FinCen Proposes Expanded CDD Requirements for Financial Institutions
On August 4, 2014, the Financial Crimes Enforcement Network (“FinCen”) issued a notice of proposed rulemaking (“NPRM”) regarding the expansion of certain customer due diligence (“CDD”) requirements for, among other entities, financial institutions. Specifically, in its NPRM, FinCen proposed a requirement for financial institutions to identify and verify the identity […]
First Take on the “Immigration Accountability Executive Action”
Last night, President Obama announced a number of sweeping changes to the current immigration system. While everyone was expecting deferred action expansion, the proposed employment immigration changes, especially the introduction of pre-registration for adjustment of status, could have a great impact for employers. The following information is subject to change […]
Electronic Health Records: The Cut and Paste Debate
Two years ago, in September, 2012, the U.S. Attorney General and the Secretary of Health and Human Services issued a joint letter seeking cooperation from the America Hospital Association and other health care associations, to ensure that electronic health records (EHR) were not used to inflate claims to the Medicare […]
8th Circuit Disagrees with 6th Circuit – Spouse-Guarantor Cannot Assert ECOA Claim as an Affirmative Defense to Collection Action
The Eighth Circuit Court of Appeals recently held that a spouse-guarantor cannot use the Equal Credit Opportunity Act (“ECOA”) as an affirmative defense to a collection action based on their guaranty. I. ECOA Prohibits Discrimination Against “Applicants” Based On Marital Status A. ECOA bans creditor from requiring a spouse to […]