Over the past eight months, the Consumer Financial Protection Bureau (CFPB) has filed six amicus briefs in court cases concerning federal consumer financial protections laws. An amicus brief is prepared by someone other than a party to a court case when that party has a strong interest in the subject matter of the litigation. The CFPB seeks public suggestions for cases with one or more legal questions relating to the interpretation and application of federal consumer financial protection regulations enforced by the CFPB. This is quite unprecedented and could expose your institution to an unexpected party inserting itself into litigation with your defaulted borrowers or in claims against you by others.
Open for Amicus Suggestions