Practice Areas & Industries: Greenberg Traurig, LLP

 




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Practice/Industry Group Overview

Greenberg Traurig’s Financial Regulatory and Compliance Group brings together attorneys from various offices and practice areas to assist financial services firms of all types and sizes as they face regulatory, legislative, supervision, examination, licensing, compliance and governance matters.

Our regional and practice diversity positions us to collaborate across practices and geographies to deliver clients the quality service and value that they require in today’s world.

Clients that we counsel include:

  • Banking groups
     
  • Investment banking groups
     
  • Mortgage originators and servicers
     
  • Payday lenders
     
  • Auto finance companies
     
  • Money services businesses
     
  • Payment system providers
     
  • Asset managers
     
  • Insurance company groups
     
  • Trade associations

 
 
Articles Authored by Lawyers at this office:

A Brief Recap of Recent Regulatory Actions Regarding Short-Term, Small-Dollar Lending
Robert E. Bostrom,Peter L. Cockrell,Brett M. Kitt,Gil Rudolph,J. Scott Sheehan, December 09, 2013
Providers of short-term, small-dollar loans, including deposit advance products and payday loans, have increasingly come under attack in recent months by Federal and State regulators. These attacks have been both collateral and direct and they appear to be close to reaching a dramatic crescendo. A...

On Party Line Vote, House Financial Services Committee Passes Six Bills Aimed at Restructuring the CFPB
Robert E. Bostrom,Peter L. Cockrell,Brett M. Kitt,Gil Rudolph,J. Scott Sheehan, November 29, 2013
On November 21st, the House Financial Services Committee passed six bills aimed at bringing oversight, accountability and transparency to the CFPB. Committee Chairman Jeb Hensarling (R-TX) called the bills “common-sense bills that bring a modicum of accountability and transparency to the...

CFPB Trial Disclosure Program Now Effective
Robert E. Bostrom,Peter L. Cockrell,Brett M. Kitt,Gil Rudolph,J. Scott Sheehan, November 15, 2013
On October 29th, the CFPB’s Notice of Policy regarding its Trial Disclosure Program was published in the Federal Register, thus making the Policy effective. Section 1032(e) of the Dodd-Frank Act permits consumer financial service providers to “conduct a trial program that is limited in...

Federal Financial Regulators Issue Diversity Policy Statement
Robert E. Bostrom,Peter L. Cockrell,Gil Rudolph,J. Scott Sheehan, November 05, 2013
On October 23rd, the OCC, the Federal Reserve Board, the FDIC, the NCUA, the SEC, and the CFPB issued a proposal for joint standards to assess the diversity policies and practices of their respective regulated entities. Section 342 of the Dodd-Frank Act requires each of these agencies to develop...

CFPB Issues Interim Final Rule and Bulletin Clarifying Mortgage Servicing Requirements
Robert E. Bostrom,Peter L. Cockrell,Brett M. Kitt,Gil Rudolph,J. Scott Sheehan, October 31, 2013
On October 15th, the CFPB issued an Interim Final Rule and CFPB Bulletin 2013-12. Both provide clarification regarding certain aspects of the CFPB’s recently published Mortgage Servicing Rule (MSR). The Bulletin provides guidance regarding: (1) policies and procedures for successors in...

CFPB Issues HMDA Compliance Bulletin
Robert E. Bostrom,Peter L. Cockrell,Brett M. Kitt,Gil Rudolph,J. Scott Sheehan, October 18, 2013
In conjunction with the CFPB’s HMDA actions discussed above, the CFPB issued Bulletin 2013-10 on October 9th. The Bulletin sets forth the Bureau’s expectations that lenders will implement compliance programs designed to ensure that they collect and report accurate HMDA data in a timely...

CFPB Removing Enforcement Attorneys from Supervisory Exams
Robert E. Bostrom,Peter L. Cockrell,Brett M. Kitt,Gil Rudolph,J. Scott Sheehan, October 18, 2013
On October 10th, the CFPB announced that it will discontinue its controversial practice of sending its enforcement attorneys to participate alongside supervision examiners in its examinations of supervised entities. This practice had been a major point of contention between the CFPB and the...

CFPB Takes Action against Financial Institutions for HMDA Violations
Robert E. Bostrom,Peter L. Cockrell,Brett M. Kitt,Gil Rudolph,J. Scott Sheehan, October 18, 2013
On October 9th, the CFPB ordered both a bank and nonbank mortgage lender to pay fines for violating the Home Mortgage Disclosure Act (HMDA). The CFPB entered consent orders with Mortgage Master, Inc. and Washington Federal, requiring them to pay to pay civil penalties of $425,000 and $34,000,...

CFPB Issues Report on CARD Act; Identifies Six 'Risky' Card Issuer Practices that May Warrant Scrutiny
Robert E. Bostrom,Brett M. Kitt,Gil Rudolph, October 07, 2013
On October 2, 2013, the Consumer Financial Protection Bureau (CFPB) published a report that both evaluates the impact of recent credit card legislation and identifies several “risky” card issuer practices that may draw future CFPB scrutiny.

'Skin in the Game' Credit Risk Retention Rules Re-Proposed
Robert E. Bostrom,Carl A. Fornaris,Lindsay K. Lefteroff,Mark I. Michigan,Gil Rudolph, September 16, 2013
On August 28, 2013, six federal financial services agencies issued a notice revising a proposed rule to implement Section 941 of the Dodd-Frank Act, which requires sponsors of securitization transactions to retain at least five percent credit risk in such transactions. By requiring securitizers to...

Florida's New Fast Track Foreclosure Law Creates Additional Requirements for Lenders and Mortgage Servicers
Cory W. Eichhorn,Michele L. Stocker, July 19, 2013
According to the Florida House of Representatives, the State of Florida has been negatively impacted by the national foreclosure crisis, and, as a result, Governor Rick Scott and the Florida Legislature want to minimize the impact upon the judicial branch both in terms of funding and caseload. It...

CFPB Clarifies Escrows Final Rule
, May 28, 2013
The CFPB issued a final rule amending the 2013 Escrows Final Rule that was previously issued in January 2013.

CFPB Recaps Efforts Directed Toward Assisting Older Americans
Justin Angelo,Robert E. Bostrom,Thomas J. McKee,Gil Rudolph,J. Scott Sheehan, May 28, 2013
Gail Hillebrand, the CFPB’s Associate Director of its Consumer Education and Engagement Division, testified before the House Committee on Energy and Commerce, Subcommittee on Commerce, Manufacturing, and Trade. Ms. Hillebrand’s testimony consisted of a review of the recent efforts of...

CFPB Settles Enforcement Regarding Real Estate Kickbacks
Justin Angelo,Robert E. Bostrom,Thomas J. McKee,Gil Rudolph,J. Scott Sheehan, May 28, 2013
The CFPB recently settled an enforcement action against a homebuilder who had allegedly received illegal referral fees through affiliated business arrangements in violation of the Real Estate Settlement Procedures Act.

CFPB Makes First Preemption Determinations on State Unclaimed Property Laws Relating to Gift Cards
Jonathan I. Lessner,Marc J. Musyl,Gil Rudolph,Sarah Niemiec Seedig, May 20, 2013
Recently, the Consumer Financial Protection Bureau (CFPB) published a final determination as to whether the unclaimed property laws of Maine and Tennessee were inconsistent with, and therefore preempted by, the Electronic Fund Transfers Act, 15 U.S.C. §§ 1693 et seq.(EFTA), as implemented...

CFPB Payday and Deposit Advance Loan White Paper Gives Glimpse into Future Regulations
Justin Angelo,Robert E. Bostrom,Thomas J. McKee,Gil Rudolph,J. Scott Sheehan, May 01, 2013
As part of its ongoing efforts to increase and expand its supervisory role over payday and deposit advance loans, the Consumer Financial Protection Bureau (the CFPB) issued a White Paper on April 24, 2013 entitled “Payday Loans and Deposit Advance Products” (the Report). The Report...

OCC, FDIC and Federal Reserve Board Issue Reports on Deposit Advance Products
Robert E. Bostrom,Gil Rudolph,J. Scott Sheehan, May 01, 2013
On April 25, 2013, the Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) issued their Proposed Guidance on Deposit Advance Products. The guidance comes only one day after the CFPB delivered its white paper highlighting the alleged risks of payday...