Tag Archives: CFPB

Financial Daily Dose 7.8.2020 | Top Story: Deutsche Bank to Pay $150 Million Over Epstein-Related Failures

BY: Michael D. Reif | July 8, 2020

German lender Deutsche Bank has reached a $150 million settlement with NY’s Department of Financial Services over its yearslong failure to “detect or prevent millions of dollars of suspicious transactions” from flowing through the account of the infamous Jeffrey Epstein – NYTimes and WSJ and MarketWatch and Law360 Big news in the solar energy world … Continue reading

Financial Daily Dose 6.30.2020 | Top Story: Supreme Court Allows President to Fire CFPB Director, Lets Agency Remain

BY: Michael D. Reif | June 30, 2020

By a 5-4 margin, the Supreme Court has ordered the restructuring of the Consumer Financial Protection Bureau, “ruling the agency’s structure was unconstitutional because its director held too much unchecked power.” The fix, according to the Court, is allowing the President to remove the CFPB’s director “for any reason,” which it deemed sufficient to reject … Continue reading

Financial Daily Dose 4.30.2020 | Top Story: Fed Holds Rates Near Zero, Pledges to Use All of its Tools to Protect US Economy

BY: Michael D. Reif | April 30, 2020

The Fed closed out its April Open Markets Committee by holding rates steady at nearly zero but also pledging to “use its ‘full range of tools’ to insulate the economy as coronavirus lockdowns sap economic growth and throw millions out of work.” That strong reassurance helped drive markets up even as the US revealed on … Continue reading

Financial Daily Dose 3.10.2020 | Top Story: US Markets Dive Again in Worst Trading Day Since 2008

BY: Michael D. Reif | March 10, 2020

Monday on Wall Street was the equivalent of a well-forecast storm that still managed to blow meteorologists’ minds. The deadly combination of diving oil prices and yet more COVID-19 worries spelled disaster for U.S. markets, which saw a halt to trading for the first time since 1997 thanks to a precipitous fall early in the … Continue reading

Financial Daily Dose 3.5.2020 | Top Story: HP Rejects Xerox’s Hostile Takeover Bid

BY: Michael D. Reif | March 5, 2020

HP has officially rejected Xerox’s enhanced takeover bid, again calling the offer “too low” and decrying its “disproportionate[] benefit” for Xerox shareholders – WSJ and Bloomberg and MarketWatch A new House of Representatives report reveals that in 2018, a top-ranking CFPB official “privately offered reassurances” to interim Wells Fargo CEO C. Allen Parker that there … Continue reading

Financial Daily Dose 2.27.2020 | Top Story: Ninth Circuit Limits First Amendment Application on Tech Platforms

BY: Michael D. Reif | February 27, 2020

The Ninth Circuit has ruled unanimously that privately operated internet platforms are “free to censor content they don’t like”—a “not unexpected” ruling that nonetheless “marks the most emphatic rejection . . . that YouTube, Twitter, Facebook and other giant tech platforms are bound by the First Amendment” – WSJ and Law360 Getting to know new … Continue reading

Financial Daily Dose 2.25.2020 | Top Story: Markets Plummet as Fears of Coronavirus Epidemic Spread to Europe

BY: Michael D. Reif | February 25, 2020

Wall Street apparently got together and decided that Monday was the day to start paying attention to the coronavirus for real.  In the form of a massive selloff that left the Dow off more than 1000 points for its worst finish in nearly a year-and-a-half. Good to know – NYTimes and WSJ and Bloomberg and … Continue reading

Financial Daily Dose 1.16.2020 | Top Story: US and China Make Phase One Official While Trade Questions Linger

BY: Michael D. Reif | January 16, 2020

Well, Phase One is official, thanks to a White House signing yesterday that included Chinese Vice Premier Liu He. With that act comes our first substantive look at the deal that’s been thus-far shrouded in secrecy. Some highlights: commitments from China to purchase “an additional $200 billion worth of American goods and services by 2021,” … Continue reading

Financial Daily Dose 1.15.2020 | Top Story: Dating Apps Face Scrutiny for Likely Data Privacy Violations

BY: Michael D. Reif | January 15, 2020

Popular app-based dating services—from Tinder to OkCupid to Grindr—are the subject of unwanted scrutiny this week after a report by the Norwegian Consumer Council that they’re “spreading user information like dating choices and precise location to advertising and marketing companies in ways that may violate privacy laws” – NYTimes and Forbes and Law360 Here’s a … Continue reading

Financial Daily Dose 12.13.2019 | Top Story: US Announces Phase One Trade Agreement With China, But No Confirmation From Chinese

BY: Michael D. Reif | December 13, 2019

The US and China have reportedly reached an initial agreement on the “final terms of a phase one trade deal, moving both countries closer to signing a pact that” the White House originally announced in October and averting new December tariffs. Under those terms, the U.S. would “slash the overall rate on the tariffs . … Continue reading