June 30, 2020 In the last two weeks, the United States Supreme Court has issued two opinions that may have an impact on banks, financial institutions and other financial service companies: Seila Law, issued June 29, 2020, will have an impact on the leadership structure of the CFPB, and perhaps ultimately the Federal Home Finance…

Financial Institutions Committee Chair: John R. Mussman Meeting Date and Time: Wednesday, June 12, 2019 12:15 p.m. to 1:30 p.m. Topics: Regulatory Redux: The Community Reinvestment Act and the Fair Debt Collection Practices Act Speakers: Joseph E. Silvia, Partner, Howard & Howard John R. Mussman, Partner, Rimon, P.C. Location: CBA Headquarters, 321 South Plymouth Court, Chicago, IL…

Host: Conference on Consumer Financial Law Why You Should Attend ​Rimon Partner, John Mussman, will present at the Annual Consumer Financial Services Conference next Thursday and Friday (May 30 and May 31) at Loyola University Chicago School of Law.  His discussion will address recent CFPB actions in fair lending.  The Conference will also cover other financial…

Financial Institutions Committee Chair: John R. Mussman Meeting Date and Time: Wednesday, April 10, 2019 12:15 p.m. to 1:30 p.m. Topics: A SPRING SMORGASBORD The Bank Holding Company Act: What constitutes “control”? Federal Reserve Applications – How to Make the Process Go More Smoothly. Bank Anti-tying Restrictions The U.S. Supreme Court Credit Card Anti-trust decision…

In this article, Rimon Partner, John Mussman, reviews the July 31 Comptroller of the Currency announcement that it would begin accepting special purpose national bank charters for fintech companies.  The special purpose charter will offer a fintech company that engages in electronic banking or lending activities a national platform — subject to OCC supervision.  States have…

Banking and Financial Services Partner, John Mussman, was appointed 2018-19 Chair of the Chicago Bar Association Financial Institutions Committee. Mr. Mussman represents banks, mortgage lenders, and other financial services providers, focusing on banking and commercial and consumer credit law. He also represents bank affiliates and non-bank players in the commercial and consumer credit space. His…

John J. Hanley joins Rimon’s Financial Services team as Partner. His practice will be based out of the firm’s New York office. Mr. Hanley was previously a shareholder at Buchanan Ingersoll & Rooney. Mr. Hanley focuses his practice on first and second lien financings; private placements of debt and equity securities; and the purchase and sale of loans, securities, trade…

On April 25, 2018, John Mussman provided a Professional Responsibility Continuing Legal Education Seminar to The Chicago Bar Association, Financial Institutions Committee.  With his former partner David Mann, Holland & Knight, Mr. Mussman presented 10 Case Studies elucidating issues that banking and other business lawyers may confront under the Illinois Rules of Professional Conduct in…

On January 31st, the D.C. Circuit ruled that the leadership structure for the Consumer Financial Protection Bureau established under the Dodd-Frank Act is consistent with the U.S. Constitution.  That the CFPB is headed by a single individual with a five-year term and can be fired only for cause does not impinge on the President’s executive…

Consumer Financial Protection Bureau Director Richard Cordray has announced his resignation.  Although not unexpected, his move may have far-reaching ramifications on the regulatory landscape in consumer finance and residential lending. You can read more here. John Mussman is a leading banking and financial services lawyer. He represents banks, mortgage lenders, and other financial services providers, focusing on banking and…