Earlier this month, the Consumer Financial Protection Bureau (CFPB) announced a joint enforcement action with the Department of Justice (DOJ) against Toyota Motor Credit Corporation (TMCC), an indirect auto lender, which, among other things, requires TMCC to pay $21.9 million in restitution to affected borrowers. Indirect auto lending is the most common type of auto…

R (on the application of Colin McKenzie) v Director of the Serious Fraud Office saw an unsuccessful attempt to judicially review the SFO’s currently in-use procedure for dealing with material that it has seized, and which may contain content subject to legal professional privilege (“LPP”).

This ‘procedure’, set out in the SFO’s Operational Handbook, provides…

It’s deal time! The 2016 JP Morgan Healthcare Conference has set the tone for another successful year for healthcare investing. A company’s financial health is a key factor in the underwriting process for any type of loan and, in the healthcare space, savvy investors also conduct through healthcare regulatory diligence.  Sophisticated investors, however, go beyond…

On January 11, 2016, the Securities and Exchange Commission announced the 2016 examination priorities list. For the third year in a row, cybersecurity is a top concern, especially with regard to internal security program assessment and evaluation.  This year the Office of Compliance Inspections and Examinations (OCIE) will focus on cybersecurity protocols implemented by financial…

The omnibus appropriations legislation that Congress passed last week contained a variety of health-related provisions. These provisions include rescinding funding for the Independent Payment Advisory Board (IPAB), deficit-neutral language related to risk corridor payments and cybersecurity.
Within a title dealing with cybersecurity issues, including within the federal government, section 405 requires the Department of Health…

A company’s I-9 file, which often goes unnoticed by all but a few HR professionals, can carry significant risk.  Form I-9 files often serve as landmines for fines, penalties, and sanctions.  Companies can mitigate these risks by conducting periodic Form I-9 audits.

This week, the Department of Justice’s Civil Rights Division and the Department of Homeland…

Two recent developments in data privacy litigation highlight the continuing challenges to companies that collect internet usage information without clearly disclosing the manner and method in which they are doing so to users.  As these events demonstrate, plaintiffs’ attorneys are aggressively bringing actions against companies that collect user data, including through the invocation of California’s…

Employers take note: a new Form I-9 is in the making.  U.S. Citizenship and Immigration Services (USCIS), part of the Department of Homeland Security, announced on November 24, 2015, that it is seeking public comment on the various proposed changes.  The proposed changes will have far-reaching impact because all employers are required to complete and…

Consumer Financial Protection Bureau (CFPB) Director Richard Cordray recently issued a warning to mortgage technology vendors for a lack of compliance with the CFPB’s TILA-RESPA Integrated Disclosure (TRID) Rule. Addressing the Mortgage Bankers Association’s Annual Convention and Expo, Cordray said he was “disturbed” by vendors’ lack of effort to implement the rule, despite having…