Commentary by Steven Lofchie
In its 2022 Annual Report to Congress, the Office of Financial Research warned that threats to U.S. financial stability are elevated compared to previous years because of rising inflation, tight credit conditions and geopolitical uncertainty.
In an amicus curae brief filed in the U.S. Court of Appeals for the Fourth Circuit, the CFPB supported plaintiffs in their appeal of a dismissal of a class action against a major commercial bank for allegedly mismanaging the distribution of government benefit prepaid cards during the COVID-19 pandemic.
The CFPB proposed a registry designed to monitor the use of terms and conditions on form contracts that waive or limit consumer rights and protections.
The DOJ and the CFTC filed parallel actions against an individual for engaging in a scheme to inflate prices in certain swap contracts on a decentralized exchange. The DOJ and the CFTC contend that the individual used those contracts as collateral to obtain large quantities of other digital assets.