CFPB

Know your place.

* Fahrvergnügen! The DOJ charged six VW executives in the emissions-cheating scandal, arresting one in Miami. [New York Times]

* Dewey think the Trustee should be able to destroy records? [Law360]

* The Jeff Sessions confirmation hearing opted for the “he can’t be racist, he has a black friend” strategy that absolutely, positively never fails. [Litigation Daily]

* Child prostitution isn’t legal in California and oh my God why do we have to clarify this? [ABC News]

* Company under CFPB investigation battling to remain anonymous. This probably would be a significant legal challenge if we assumed the CFPB would exist past next month. [National Law Journal]

* Chelsea Manning’s sentence may be commuted before Obama leaves office. [Lawfare]

* The fight over legal rights to Prince’s catalog continues. [Page Six]

Ed. note: As mentioned on Wednesday, we will be publishing today, but at a reduced level. We’ll be back in full force on Monday. Hope you had a great Thanksgiving!

* President-elect Donald Trump will likely pick a lawyer as his nominee for Secretary of State: Rudy Giuliani (NYU Law ’68) or Mitt Romney (Harvard Law ’75). [New York Times]

* Where do broken hearts go? Some precedents for Chief Judge Merrick Garland to follow from unsuccessful Supreme Court nominees. [Associated Press via How Appealing]

* A pre-Thanksgiving ruling from the Florida Supreme Court that gave one prisoner something to be grateful for could signal more upheaval to come in the nation’s second largest death row. [BuzzFeed]

* Three more judges participated in Pennsylvania’s “Porngate” email exchanges — but it seems that Bruce Beemer, the state’s new attorney general, won’t be naming names. [ABA Journal]

* What does the future hold for the Consumer Financial Protection Bureau (CFPB) and its chief, Chicago Law grad and former SCOTUS clerk Richard Cordray? [New York Times]

* It’s not just a plot line from Suits: Reginald Taylor, accused of posing as a lawyer by stealing an attorney’s bar number, apparently delivered decent results for his clients. [The Daily Beast]

* Don’t mess with (federal judges from) Texas, Mr. President; Judge Amos Mazzant, who blocked President Obama’s proposed extension of overtime pay, isn’t the first Lone Star jurist to cause problems for the Obama Administration. [New York Times via How Appealing]

* Thinking of hitting the movies over the long weekend? Tony Mauro shares our own Harry Graff’s enthusiasm for Loving. [National Law Journal]

Check out these great job opportunities for graduating law students and recent law school grads.

Are you aware of all these great job opportunities for graduating law students and recent law school graduates?

What is behind the $25 million settlement PayPal entered into with the Consumer Financial Protection Board?

On November 13, 2014, the Consumer Financial Protection Bureau (“CFPB”) proposed new rules for prepaid accounts, to be effectuated through amendments to the regulations implementing the Electronic Fund Transfer Act and the Truth in Lending Act (Regulation E and Regulation Z, respectively). The proposed rules can be accessed here. The CFPB’s press release regarding the proposed rules can be accessed here. Comments to the proposed rules must be submitted within 90 days of the date the proposed rules are published in the Federal Register. The proposed rules are a follow-up to the advanced notice of proposed rulemaking regarding prepaid cards issued by the CFPB in May 2012.

The CFPB has issued a white paper on the manufactured housing market, including how manufactured housing is financed and the types of consumers who purchase or rent such housing. In the paper’s introduction, the CFPB explains that although manufactured housing only accounts for six percent of all occupied housing and a much smaller fraction of U.S. home loan originations, such housing is of interest to the CFPB because it is a source of affordable housing particularly for rural and low income consumers and may raise consumer protection concerns due to the nature of the retail and financing markets for such housing. The report relies on publicly available data, including HMDA data, proprietary data voluntarily provided to the CFPB and information obtained through outreach to industry groups, consumer groups, government agencies and “a variety of market participants and observers.” The paper’s key findings include:

It's hard to believe a company can so blatantly thumb its nose at the rules, but they have a secret and some Biglaw bigshots on retainer to fight tooth-and-nail to protect their lending practices....

Are you aware of all these great job opportunities for graduating law students and recent law school graduates?

* Nothing demands a SWAT team like a 90-year-old woman. [Lowering the Bar] * Not so much legal, but here’s Princeton Review’s ranking of the best and worst colleges. If you’re looking for hard liquor, head to Iowa City. [TaxProf Blog] * Dewey know what Al Togut’s going to say about law firm bankruptcies. Yeah, I know, but we’re just going to keep riding this pun. [Forbes] * Corruption in New Orleans? Hold on, I need a second to let this sink in. [The Times-Picayune] * Be sure to come by on Wednesday to hear from a panel of general counsel about the transition to in-house work. [Above the Law] * The CFPB is cracking down on debt-collecting law firms. So if you’re a bottom-feeder, the government is coming for you. [Gawker]

Get used to renting, lawyers!

Some news about an arm of the federal government that's hiring graduating law students as well as experienced attorneys. Apply now, the deadline is soon!

A law firm gets a dubious FIRST from a new government enforcement agency.

It’ll take some time before a court rules on the legality of Barack Obama’s recess appointment of Richard Cordray to the Consumer Financial Protection Bureau. In case you haven’t been paying attention, Obama nominated Cordray two years ago, but the Republicans have refused to allow his nomination to come to a vote. Obama then wanted […]

* The recess appointment of Richard Cordray to head the CFPB could get tricky — not because Republicans are outraged by recess appointments (much like Democrats are outraged by obstructionist filibusters), but because Congress isn’t technically in recess, due to the sham sessions Congress has been running. [WSJ Law Blog] * Milbank, if you’re going […]

In light of the tough job market for graduating law students, we've been running a series on employment opportunities for 3Ls. Thus far we've covered judicial clerkships, the Justice Department Honors Program, the Presidential Management Fellows Program, and the Chief Counsel’s Employment Program at the Office of the Comptroller of the Currency. Now we bring you news about another arm of the federal government that is hiring graduating law students as well as experienced attorneys. But if you're interested, you need to act fast; applications are due today....