R. Andrew Arculin

Firm/Organization: Venable LLP

Latest Articles

CFPB issues new RFIs, FFIEC releases new HMDA guide, and more in this issue of Consumer Financial Services Practice Digest

By R. Andrew Arculin, Allyson B. Baker, Andrew E. Bigart, Jonathan L. Pompan, Gerald S. (Gerry) Sachs, Daniel F. Danello, Christopher L. Boone, Peter S. Frechette, Evan R. Minsberg & Joseph Leonard Robbins on March 2, 2018

CFPB Expands Call for Evidence with Additional RFIs The CFPB has now issued six RFIs as part of Acting Director Mulvaney’s Call for Evidence Regarding Consumer Financial Protection Bureau Functions, which we have previously covered. The RFIs provide industry participants a chance to comment on the CFPB’s rules, policies, and practices regarding investigations, examinations, enforcement actions, and external engagement. Continue Reading…

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CFPB’s Constitutionality Affirmed in En Banc DC Circuit Ruling

By R. Andrew Arculin, Allyson B. Baker, Jonathan L. Pompan, Gerald S. (Gerry) Sachs, Peter S. Frechette & Sameer P. Sheikh on February 2, 2018

Sitting en banc, the U.S. Court of Appeals for the DC Circuit ruled that the Consumer Financial Protection Bureau’s (CFPB) structure is constitutional. By a vote of 7 to 3, the full panel of judges reversed an earlier panel decision that took issue with the independent agency’s single-director structure. The en banc decision left intact the DC Circuit panel’s interpretation of the Real Estate Settlement Procedures Act (RESPA). Ultimately, the court remanded the case back…

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CFPB Director Cordray Announces Departure to Bureau Staff

By R. Andrew Arculin, Allyson B. Baker, Jonathan L. Pompan, Gerald S. (Gerry) Sachs, Meredith L. Boylan, Peter S. Frechette, Katherine Lamberth & Evan R. Minsberg on November 16, 2017

In an internal email to CFPB staff, Director Cordray announced that he will be stepping down by the end of the month. Industry participants and observers have long speculated that Director Cordray might leave office prior to the expiration of his five-year term (July 2018) to run for governor of Ohio. Upon his departure, Director Cordray will be succeeded by the Bureau’s acting deputy director, David Silberman. The Administration is likely, however, to appoint a…

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Impact of Arbitration Rule CRA Vote on CFPB Regulations

By R. Andrew Arculin, Allyson B. Baker, Jonathan L. Pompan, Kara Ward & Peter S. Frechette on October 26, 2017

The CFPB’s Arbitration Rule has been sent to the President’s desk to join 14 other federal agency regulations that have been repealed under the Congressional Review Act (CRA). The disapproval resolution, which was passed by the House in July, was passed by the Senate late in the evening on October 24. The rule would have prohibited companies from using class action waivers in arbitration agreements. Restraints on the CFPB Revisiting the Arbitration Rule Under the…

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Consumer Financial Services Practice Digest

By R. Andrew Arculin, Allyson B. Baker, George Kostolampros, Jonathan L. Pompan, Meredith L. Boylan, Alexandra Megaris, Kara Ward, Erin Zacuto Cass, Peter S. Frechette & Evan R. Minsberg on July 7, 2017

In this issue we discuss that under the cloud of speculation hanging over the CFPB they continue to launch supervisory examinations and enforcement investigations, and also held a public event on June 22 discussing the Public Student Loan Forgiveness Program. Also in this issue is commentary around a top state regulator issued a reminder to obtain prior approval of acquisitions or changes in control, the division between the courts on the ALJ Appointments issue and…

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Consumer Financial Services Practice Digest

By R. Andrew Arculin, Allyson B. Baker, Jonathan L. Pompan, John Banghart, Alexandra Megaris, Jami Mills Vibbert, Peter S. Frechette, Andrew Hernacki, Evan R. Minsberg, Katherine Lamberth & Jennifer Talbert on May 19, 2017

A circuit split regarding the SEC’s administrative law judges, an internal CFPB playbook and memo on their examination process, and a recent field hearing on small business lending are at the forefront of the May 18 edition of Venable’s Consumer Financial Services Digest. In this issue, we highlight the circuit split between the Tenth Circuit and the D.C. Circuit regarding the status and appointment of the SEC’s administrative law judges. We take a look at the CFPB’s…

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Consumer Financial Services Update

By Don Andrews, R. Andrew Arculin, Allyson B. Baker, Ellen T. Berge, Amy Mudge, Jonathan L. Pompan, Randy Shaheen, Andrew E. Bigart, Kara Ward, Peter S. Frechette, Jonathan King & Evan R. Minsberg on April 14, 2017

Business lending, negative option programs, and enterprise risk management are at the forefront of the April 13 edition of Venable’s Consumer Financial Services Digest. In this issue, we discuss CFPB Director Cordray’s recent appearance before Congress where he noted that the CFPB has started engaging in supervisory activity regarding small business lending.…

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Consumer Financial Services Update

By R. Andrew Arculin, Allyson B. Baker, John Beaty, Ellen T. Berge, Jonathan L. Pompan, Andrew E. Bigart, Meredith L. Boylan, Alexandra Megaris, Peter S. Frechette, Andrew Hernacki, Evan R. Minsberg, Joseph Leonard Robbins & Jennifer Talbert on March 31, 2017

Consumer data, UDAAP, debt collection, and fintech licensing are at the forefront of the March 30 edition of Venable’s Consumer Financial Services Digest. In this issue, we discuss the importance of the Federal Trade Commission’s activities in the consumer finance world and the big changes on the horizon for credit reporting of public records data.…

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Post-Election Consumer Financial Services Regulatory Landscape FAQs

By Allyson B. Baker, Jonathan L. Pompan, R. Andrew Arculin, Kara Ward, Peter S. Frechette & Jennifer S. Talbert* on November 17, 2016

Since the election, several questions have emerged about the near future of the consumer financial services federal regulatory landscape. We’ve gathered some of the most common questions below. The FAQs, based on input received from members of our consumer financial services team, are intended to help provide basic information to help place the results into perspective. Who will President Trump be listening to as he develops his consumer financial services policies? It is difficult to…

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D.C. Circuit Addresses CFPB’s Constitutionality, RESPA Interpretation, and Statute of Limitations Issues in PHH Decision

By Allyson B. Baker, R. Andrew Arculin, Andrew Hernacki & Peter S. Frechette on October 11, 2016

The United States Court of Appeals for the D.C. Circuit today issued a highly anticipated decision in PHH Corp. v. CFPB (Case No. 15-1177). In a 110-page decision, the D.C. Circuit held that the CFPB’s structure as a single-director independent agency is unconstitutional. The decision on the constitutional issue, however, may have “important but limited real-world implications.” The Court described its ruling, severing the “for-cause” removal provision from the Dodd-Frank Act, as a “targeted remedy”…

R. Andrew Arculin

CFPB issues new RFIs, FFIEC releases new HMDA guide, and more in this issue of Consumer Financial Services Practice Digest

CFPB’s Constitutionality Affirmed in En Banc DC Circuit Ruling

CFPB Director Cordray Announces Departure to Bureau Staff

Impact of Arbitration Rule CRA Vote on CFPB Regulations

Consumer Financial Services Practice Digest

Consumer Financial Services Practice Digest

Consumer Financial Services Update

Consumer Financial Services Update

Post-Election Consumer Financial Services Regulatory Landscape FAQs

D.C. Circuit Addresses CFPB’s Constitutionality, RESPA Interpretation, and Statute of Limitations Issues in PHH Decision

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