In an opinion yesterday, Judge Failla largely denied UBS’s motion to dismiss a lawsuit brought by a plaintiff who claims he was fired, in violation of anti-retaliation laws, for complaining about UBS’s practices relating to commercial mortgage-backed securities (CMBS). Judge Failla did dismiss, however, the plaintiffs’ claims under the Consumer Financial Protection Act. This portion of the motion raised a novel question of whether the anti-retaliation provisions of the CFPA pertained to products that the CFPB had the authority to regulate by statute, or whether the provisions related only to those products actually regulated. Judge Failla agreed with the latter view and dismissed that claim:
Continue Reading Judge Failla: CFPB Anti-Retaliation Protections Do Not Cover Complaints About CMBS
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First Rules From Judges Torres and Failla Suggest “Rocket Dockets”
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