Financial Fraud Law

Recent Posts

This US Official Is Appearing Tonight on Jeopardy! Who is ….?
Posted on 5 Feb 2014 by Steven A. Meyerowitz

He is the former Attorney General of Ohio and he now serves as director of the Consumer Financial Protection Bureau. He tamed Jeopardy! nearly three decades ago as a five time winner, and is back on the show this evening as part of the “Battle of... Read More

Law Professors Bebchuk and Jackson Bemoan SEC’s Delay in Considering Corporate Political Spending Disclosure Rules
Posted on 2 Dec 2013 by Steven A. Meyerowitz

Expressing disappointment that the Securities and Exchange Commission no longer is scheduled to consider whether to adopt rules that would require public companies to disclose their political spending, Harvard Law School Professor Lucian Bebchuk and Columbia... Read More

Consumers Typically Are Barred from Suing Their Banks, CFPB Finds
Posted on 12 Dec 2013 by Steven A. Meyerowitz

Arbitration clauses commonly are used by large banks in credit card and checking account agreements – and roughly nine out of 10 clauses allow banks to prevent consumers from participating in class actions, according to research just released by... Read More

Prosecutors’ Rush to Join Private Law Firms Accelerates
Posted on 30 Jan 2014 by Steven A. Meyerowitz

The wave of financial fraud prosecutors joining private law firms is continuing – in fact, it appears to be accelerating. Consider that, in just the past couple of days, David Meister, who ran the enforcement unit at the Commodity Futures... Read More

One Bank’s Reaction to Volcker Rule: A Big Charge to Earnings
Posted on 17 Dec 2013 by Steven A. Meyerowitz

Just days after the Federal Reserve and other bank regulatory agencies finalized the “Volcker Rule” under the Dodd-Frank Act, one large bank has reacted in a big way. Zions Bancorporation has determined that substantially all of its portfolio... Read More

CFTC Orders Russian Bank President to Pay $250,000 Penalty
Posted on 3 Jan 2014 by Steven A. Meyerowitz

The U.S. Commodity Futures Trading Commission (CFTC) has entered an order requiring foreign national Artem Obolensky of Moscow, Russia, to pay a $250,000 civil monetary penalty for making false and misleading statements of material fact to CFTC staff... Read More

Reaction to the New Volcker Rule: Not Enough, and Too Much
Posted on 10 Dec 2013 by Steven A. Meyerowitz

As has been widely reported, five federal agencies today issued final rules to implement Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, a/k/a the “Volcker Rule.” The final rules prohibit insured depository... Read More

Fraud Regulator Calls Obama Administration Budget ‘Woefully Insufficient’
Posted on 5 Mar 2014 by Steven A. Meyerowitz

Commissioner Bart Chilton of the Commodity Futures Trading Commission (“CFTC”) is calling the proposed funding for the agency in President Obama’s proposed fiscal year 2015 budget “woefully insufficient” given the agency’s... Read More

CFPB Proposes to Oversee Larger Nonbank International Money Transfer Providers
Posted on 23 Jan 2014 by Steven A. Meyerowitz

The Consumer Financial Protection Bureau (CFPB) has proposed a rule that would allow it to supervise certain nonbank international money transfer providers for the first time. The CFPB said that its proposed rule would bring new oversight to larger nonbank... Read More

#2 in Financial Fraud Law: He Was Confirmed, and He Has Confirmed an Aggressive Approach for 2014
Posted on 2 Jan 2014 by Steven A. Meyerowitz

Let’s get this out right at the beginning: #2 in Financial Fraud Law for the year, according to the Financial Fraud Law Blog , is: #2: Richard Cordray, Director of the Consumer Financial Protection Bureau. The Consumer Financial Protection... Read More