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Combining his four years’ experience at the center of some of the nation’s most critical public policy debates as Chief of Staff to the late Senator Edward M. Kennedy, and his more than 20 years of experience advising and representing financial institutions, Eric Mogilnicki focuses his practice on assisting financial services clients with investigations, examinations and enforcement actions by government regulators, including the CFPB, FTC, OCC, and FDIC. Over the past six years, Mr. Mogilnicki has been a national leader within the private bar on CFPB enforcement and policy issues. His regulatory experience spans the lifecycle of interactions with agencies, including:
- counseling clients facing informal requests for information;
- providing financial institutions and other interested parties with product reviews, mock examinations and other guidance prior to the commencement of examinations;
- representing entities in responding to civil investigative demands, including Petitions to Withdraw the CID;
- negotiating Consent Orders; and
- assisting financial institutions in complying with Consent Orders.
Mr. Mogilnicki’s clients include major banks and credit card issuers, federal credit unions, and national financial trade associations. Mr. Mogilnicki also represents major corporations with financing subsidiaries that received CFPB scrutiny.
Mr. Mogilnicki is a past chair of the Federal and State Trade Practices and the Litigation and Arbitration Subcommittees of the American Bar Association Committee on Consumer Financial Services, a Member of the American College of Consumer Financial Service Lawyers. He frequently writes and speaks on regulatory issues.
- Lead counsel for PayPal in an FTC investigation of its Venmo product. Covington successfully reached a settlement with the FTC, allowing for Venmo to continue to grow and offer their cutting-edge payment services.
Previous Experience
- Chief of Staff to the late Senator Edward M. Kennedy (2006-2009)
- Chief of Staff to Senator Paul G. Kirk Jr. (2009-2010)
- Assistant Attorney General, Massachusetts Attorney General’s Office (1987-1991)
January 21, 2021, Covington Alert
On January 18, 2021, then President-Elect Joseph Biden confirmed earlier reports that he would nominate Rohit Chopra to serve as Director of the Consumer Financial Protection Bureau (“CFPB” or the “Bureau”). Chopra is currently a Commissioner at the Federal Trade Commission (“FTC”) and previously served as a CFPB Assistant Director and Student Loan Ombudsman. ...
January 5, 2021, Cov Financial Services
On January 5, 2021, the CFPB’s (the “Bureau”) Taskforce on Federal Consumer Financial Law (the “Taskforce”) released a report (the “Report”) recommending how consumer protection in the financial marketplace may be improved. Chartered by the Bureau in January of 2020, the Taskforce was charged with “examin[ing] the existing legal and regulatory environment ...
November 8, 2020, Law360
Eric Mogilnicki is quoted in Law360 regarding bank regulation in a Biden presidency. Mr. Mogilnicki says with more banks and nonbank lenders seeking to deploy alternative data sources and machine learning in lending, the Biden administration will have a unique opportunity to address growing frictions between those new technologies and decades-old regulatory ...
What Will Regulatory Agencies Look Like in 2021?
October 14, 2020, LEND360 Webinar
CFPB Enforcement Sees Highest New Case Volume In 5 Years
October 14, 2020, Law360
Eric Mogilnicki is quoted in Law360 regarding the rising number of CFPB enforcement cases in the last five years. Mr. Mogilnicki says, “I think it's a coincidence. These cases take time to germinate, and the bureau has been working on the assumption that Seila Law wouldn't disrupt its enforcement activities. I can't imagine they were holding back waiting for ...
Policy in Transition: A Survey of Consumer Reporting Legislation and Rulemaking
September 22, 2020, CDIA Law & Industry Conference
September 21, 2020, Covington Alert
On September 15, 2020, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) released an Outline of Proposals under Consideration and Alternatives Considered for the small business data collection rulemaking mandated by Section 1071 of the Dodd-Frank Act and a High-Level Summary of Outline of Proposals under Consideration for SBREFA: Small Business ...
July 6, 2020, Law360
Eric Mogilnicki is quoted in Law360 regarding the Supreme Court's decision settling the long-standing debate around the constitutionality of the Consumer Financial Protection Bureau. Mr. Mogilnicki says the move to remand the case nevertheless "suggests that ratification is a live legal issue.” He adds, “Although the court doesn't quite say that ratification is ...
June 30, 2020, Bloomberg Law
Eric Mogilnicki spoke with Bloomberg Law about the Supreme Court’s case considering the constitutionality of the Consumer Financial Protection Bureau, which has led to an examination of its past actions. Mr. Mogilnicki says the Supreme Court may have “opened Pandora’s box” that could allow companies to nullify enforcement actions and even regulations from when ...
June 3, 2020, Covington Alert
On May 27, 2020, the Federal Reserve Bank of Boston ("FRBB") posted a number of documents that provide important additional details about its Main Street Lending Program ("MSLP"), including updated FAQs, new required agreements and forms, and new lender and borrower guides. The following summary highlights key FAQ changes and summarizes each of the new MSLP ...
May 22, 2020, Covington Alert
Today, May 22, the Consumer Financial Protection Bureau (“CFPB”) issued an important no-action letter template in response to an application by the Bank Policy Institute (“BPI”), which could serve as the basis for no-action letter applications by BPI members and other deposit-taking institutions that wish to offer a standardized, small-dollar credit product as ...
May 21, 2020, Covington Alert
On May 20, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency (collectively, the “agencies”) issued interagency principles (the “Lending Principles”) to encourage supervised banks, savings associations, and credit unions ...
May 4, 2020, Covington Alert
On May 4, 2020, the Federal Reserve Bank of New York (the “FRBNY”) released an updated series of Frequently Asked Questions (“FAQs”) regarding two of the Federal Reserve’s liquidity facilities established to provide financial assistance to businesses impacted by the COVID-19 pandemic: the Primary Market Corporate Credit Facility (“PMCCF”) and the Secondary ...
May 1, 2020, Covington Alert
Yesterday, April 30, 2020, the Board of Governors of the Federal Reserve System announced important changes to the Main Street Lending Program (the “Program”) that it had introduced on April 9, 2020. The changes reflect further information and clarification with respect to the terms and conditions of the Program and address, at least in part, feedback that the ...
April 23, 2020, Covington Alert
As the Paycheck Protection Program (“PPP”) is about to re-open following passage of a bill that will provide additional $310 billion in funds to the program (including funds reserved for loans by certain small and mid-sized lenders), the rules of the Small Business Administration (“SBA”) that prohibit or restrict loans to the small business ventures of bank ...
April 9, 2020, Covington Alert
Today, the Board of Governors of the Federal Reserve announced the creation of four new liquidity facilities and the expansion of three previously announced liquidity facilities to provide credit to borrowers impacted by the COVID-19 pandemic. Whereas the previously announced programs primarily targeted certain financial markets and their participants (such as ...
March 26, 2020, Covington Alert
When consumers use their credit cards to purchase goods or services that they never receive, the Fair Credit Billing Act gives consumers the right to dispute the charge directly with their credit card issuer. As merchants cancel orders and reservations in the wake of the Covid-19 crisis, creditors should prepare themselves for a dramatic increase in consumers ...
March 24, 2020, Covington Alert
On March 23, the Board of Governors of the Federal Reserve System (the “FRB”) announced the latest in a series of extraordinary actions intended to help mitigate the impacts of the COVID-19 pandemic on the U.S. economy. Unlike the measures announced last week – which mostly involved re-establishing emergency programs that were used during the 2008–09 financial ...
March 19, 2020, Covington Alert
Yesterday, on March 18, 2020, the Board of Governors of the Federal Reserve System (“Board”) announced the creation of a Money Market Mutual Fund Liquidity Facility (“MMLF”) to provide liquidity support to money market mutual funds (“MMMFs”) by facilitating their sale of certain assets in order to meet redemption requests. Under the MMLF, the Federal Reserve ...
March 18, 2020, Covington Alert
Yesterday, on March 17, 2020, the Board of Governors of the Federal Reserve System (“FRB”) announced the creation of a Primary Dealer Credit Facility (“PDCF”) to provide a liquidity backstop to primary dealers of the Federal Reserve Bank of New York (“FRBNY”), which include the nation’s largest broker-dealers. The PDCF will provide short-term loans to primary ...
March 17, 2020, Covington Alert
Today, on March 17, 2020, the Federal Reserve provided a backstop of commercial paper ("CP") in the form of a Commercial Paper Funding Facility (“CPFF”) that establishes a special purpose vehicle (“SPV”) to acquire eligible CP directly from eligible issuers. The CPFF will provide liquidity to CP issuers that may otherwise face issues rolling over their CP in ...
Federal Reserve Takes Extraordinary Actions Supporting Financial Markets to Mitigate COVID-19 Impact
March 16, 2020, Covington Alert
Yesterday, on Sunday, March 15, 2020, in response to the COVID-19 pandemic’s impact on U.S. and global economic activity, the Federal Reserve’s Federal Open Market Committee (“FOMC”) cut the target range of the federal funds rate to 0 to 1/4 percent until such time as the FOMC is “confident that the economy has weathered recent events and is on track to achieve ...
CFPB Tightens Approach To Abusiveness With New Policy
January 24, 2020, Law360
Eric Mogilnicki is quoted in Law360 regarding the CFPB’s new policy of restraint in bringing enforcement actions against financial services providers for abusive acts and practices. Mr. Mogilnicki says, “It is a helpful guide for how the bureau will enforce the abusiveness prohibition. However, this guide is not rooted in the language of the statute, which means ...
January 1, 2020, Law360
Eric Mogilnicki is quoted in Law360 regarding the constitutionality of the Consumer Financial Protection Bureau (CFPB), in Seila Law v. CFPB, a case that will be heard before the Supreme Court in 2020. Mr. Mogilnicki says, “The irony is that Republican resistance to former CFPB Director Richard Cordray” — who was nominated by former President Barack Obama — ...
November 27, 2019, Bloomberg Law
Eric Mogilnicki spoke with Bloomberg Law about the Supreme Court’s scheduling of arguments in Seila Law LLC v. CFPB, a case which will determine the Consumer Financial Protection Bureau’s constitutionality. Mr. Mogilnicki commented on a potential CFPB challenge involving All American Check Cashing Inc., saying regardless of whether the Supreme Court takes All ...
October 17, 2019, Covington Alert
On September 10, 2019, the Consumer Financial Protection Bureau issued a No-Action Letter Policy, along with a Compliance Assistance Sandbox Policy and Trial Disclosure Program Policy, to promote innovation and facilitate compliance in consumer financial services. Covington & Burling LLP is pleased to provide this Model No-Action Letter Application as a ...
CFPB Fall Preview
August 31, 2019, Cov Financial Services
As we turn the page on the summer, the Consumer Financial Protection Bureau is poised to be active – and actively overseen – in the months ahead. Here’s an overview of some of the issues and events ahead. New Leadership The search for a new Associate Director for Supervision, Enforcement, and Fair Lending is in...… Continue Reading
June 25, 2019, Law360
Eric Mogilnicki’s comments from a recent financial services conference are mentioned in Law360. At the conference, panelist lawyers said the Consumer Financial Protection Bureau should not wait to provide a definition of what counts as an "abusive" act or practice under the Dodd-Frank Act. Mr. Mogilnicki says, “It would not be a bad start for the Bureau to ...
December 27, 2018, Bloomberg Law
Eric Mogilnicki is quoted in Bloomberg Law regarding the Consumer Financial Protection Bureau’s future under newly appointed director, Kathy Kraninger. According to Mr. Mogilnicki, Kraninger may look to ratchet back tensions with congressional Democrats by bringing enforcement actions against clear bad actors. Potential targets include lenders that prey on ...
September 5, 2018, Covington Alert
This client alert summarizes recent regulatory developments relating to fintech and discusses the implications of these developments.
Eric Mogilnicki Quoted in Bloomberg Law Article
April 23, 2018, Bloomberg Law
Eric Mogilnicki is quoted in a Bloomberg Law article regarding the CFPB leadership dispute between Mick Mulvaney and Leandra English. According to Mogilnicki, even if Trump's choice of Mulvaney to lead the CFPB is taken out by the D.C. Circuit, the president is going to get another shot to name both acting and permanent directors at the bureau. “It seems to me ...
April 2, 2018, Cov Financial Services
On April 2, 2018, the Consumer Financial Protection Bureau issued its semi-annual report to Congress. Along with the traditional review of Bureau activities for the 6-month period covered by the report, the report is most notable for the 4 legislative proposals offered by Acting Director Mulvaney in his introductory letter, each of which would serve...… ...
What's Next for the CFPB?
February 14, 2018, Credit Union Times
Eric Mogilnicki is quoted in a Credit Union Times article regarding what's next for the CFPB following a federal appeals court decision in late January upholding the lawfulness of the Bureau's structure. According to Mogilnicki, "The combination of that opinion and Acting Director Mulvaney's recent statement that the Bureau would stop 'pushing the envelope' on ...
February 13, 2018, Cov Financial Services
Yesterday, the CFPB released a new Strategic Plan for fiscal years 2018 to 2022. The new Plan is a further demonstration of Acting Director Mulvaney’s efforts to reshape the Bureau. As the Acting Director says in the message that prefaces the Plan, “if there is one way to summarize the strategic changes occurring at the...… Continue Reading
February 7, 2018, Bloomberg Law
Eric Mogilnicki is quoted in a Bloomberg Law article regarding potential constitutional challenges faced by the CFPB following the U.S. Court of Appeals ruling on January 31. According to Mogilnicki, plenty of questions are still up in the air. The CFPB could settle some cases that otherwise would keep working through the constitutional question, while other ...
February 2, 2018, Covington Alert
On Wednesday, January 31, 2017, the D.C. Circuit, sitting en banc, issued its long awaited decision in PHH v. CFPB, holding that the Bureau’s structure is constitutional and overruling an earlier decision that would have permitted the President to replace the Bureau’s Director at will.
January 31, 2018, Cov Financial Services
Today, the D.C. Circuit Court of Appeals, sitting en banc, held that the structure of the CFPB is constitutional, overturning an earlier ruling by a panel of the Court that would have allowed the President to fire the CFPB director at will. The Court’s decision, finding that the Bureau’s structure is protected by well-established precedent...… Continue Reading
What CFPB gained, lost in appeals court ruling
January 31, 2018, American Banker
Eric Mogilnicki is quoted in an American Banker article regarding a federal appeals court decision upholding the constitutionality of the CFPB’s single-director structure. "It's a victory for the CFPB in the long-long run, but the Democrats may have to wait two or three years to replace a Trump nominee," says Mogilnicki. "I do think that the win on independence ...
January 31, 2018, The National Law Journal
Eric Mogilnicki is quoted by The National Law Journal in an article regarding the significance of a federal appeals court ruling upholding the lawfulness of the CFPB’s single-director structure. “The combination of that opinion and Acting Director Mulvaney’s recent statement that the bureau would stop ‘pushing the envelope’ on enforcement matters will provide ...
January 31, 2018, Politico
Eric Mogilnicki is quoted in a Politico article regarding the federal appeals court ruling upholding the constitutionality of the CFPB’s structure. According to Mogilnicki, it's “quite likely” PHH would prevail in its argument against the penalty following today’s decision, and that an appeal from the administration would be unlikely due to political ...
CFPB Constitutional Fight Faces Tough Supreme Court Path
January 31, 2018, Law360
Eric Mogilnicki is quoted in a Law360 article regarding the D.C. Circuit’s ruling that the CFPB's single-director structure is not a violation of the president’s powers under Article II of the Constitution. According to Mogilnicki, because of the for-cause protection in place for any Senate-confirmed director, a Democrat president may be prevented from putting ...
January 17, 2018, The National Law Journal
Eric Mogilnicki is quoted by The National Law Journal in an article regarding the CFPB's investigative demands. Commenting on the time crunch, Mogilnicki says, “That timetable is too fast, especially when the [civil investigative demand] includes a laundry list of requests that require detailed investigation to determine what documents are available.” He adds, ...
Consumer Finance Lawyers Prep Wish Lists as CFPB Retools
January 9, 2018, Bloomberg BNA
Eric Mogilnicki spoke at an American Bar Association meeting and is quoted in a Bloomberg BNA article regarding potential changes at the Consumer Financial Protection Bureau (CFPB). According to Mogilnicki, “There’s going to be as much change coming in with the new Administration as when CFPB was created."
November 27, 2017, Cov Financial Services
On Friday, November 24, Richard Cordray left the CFPB — but not before appointing his Chief of Staff, Leandra English, as Deputy Director of the Bureau. Under the Dodd-Frank Act, the Deputy Director “shall . . . serve as acting Director in the absence or unavailability of the Director.” Hours later, President Trump named Mick...… Continue Reading
November 15, 2017, Cov Financial Services
Richard Cordray, the first and only Director of the Consumer Financial Protection Bureau, announced today that he will resign from the Bureau by the end of November–presumably in order to explore a run for governor in his home state of Ohio. Cordray, a Democrat, was appointed to serve as the agency’s first Director in a...… Continue Reading
November 9, 2017, Covington Alert
On October 31, 2017, the Office of the Comptroller Currency (“OCC”) released OCC Bulletin 2017-48, Updated Guidance: Bank Enforcement Actions and Related Matters, updating its internal policies and procedures regarding bank enforcement actions and related matters.
October 25, 2017, Cov Financial Services
After months of speculation, the Senate voted tonight to strike down the CFPB’s controversial Arbitration Rule pursuant to the Congressional Review Act (CRA). Since the House voted to repeal the Rule back in July, the repeal now heads to the President, who is expected to sign it promptly. Once signed into law, the CRA repeal...… Continue Reading
September 12, 2017, Cov Financial Services
See our article in Law360, A Pro-Consumer, Pro-Arbitration Approach At the CFPB, regarding the CFPB’s arbitration rule, which Congress is weighing whether to overturn pursuant to the Congressional Review Act.… Continue Reading
July 13, 2017, Cov Financial Services
Earlier this week, the Consumer Financial Protection Bureau published a final rule substantially curtailing the ability of financial services providers and consumers to enter into voluntary pre-dispute arbitration clauses. The final rule, like the proposed rule that preceded it, would i) prevent financial services providers from including arbitration clauses in ...
July 10, 2017, Covington Alert
Today the Consumer Financial Protection Bureau (the “CFPB” or the “Bureau”) published a final rule substantially curtailing the ability of financial services providers and consumers to enter into pre-dispute arbitration clauses. The final rule, like the proposed rule that preceded it, would: prevent financial services providers from including arbitration ...
Is CFPB being stretched thin by litigation?
June 7, 2017, American Banker
Eric Mogilnicki is quoted in an American Banker article regarding the impact of legal challenges on the Consumer Financial Protection Bureau. According to Mogilnicki, "Obviously, litigation soaks up resources that could be used to begin and proceed with investigations."
The CFPB Is Fighting for Its Life. Here's What to Know.
May 23, 2017, The National Law Journal
Eric Mogilnicki is quoted by The National Law Journal in an article regarding the future of the Consumer Financial Protection Bureau ahead of the D.C. Circuit's ruling on the constitutionality of the agency's single-director structure. According to Mogilnicki, “The bureau was designed to be largely immune from politics, and has governed accordingly. The court’s ...
DC Circ. Could Punt On CFPB Constitutionality Question
May 22, 2017, Law360
Eric Mogilnicki is quoted in a Law360 article regarding the upcoming rehearing of a case challenging the constitutionality of the single-director leadership structure of the Consumer Financial Protection Bureau. According to Mogilnicki, “I think the threshold issue, if that gets the most attention, it will suggest that the court is likely to pull back rather ...
April 24, 2017, Covington Alert
On April 19, 2017, the House Financial Services Committee (the “Committee”) released a new “discussion draft” of the Financial CHOICE Act, its comprehensive regulatory reform bill (“CHOICE Act 2.0”). The Committee released the first version of the bill (“CHOICE Act 1.0”) in June 2016.
April 8, 2017
WASHINGTON—Covington partner Eric Mogilnicki has been named a Fellow of the American College of Consumer Financial Services Lawyers. Mr. Mogilnicki is the third Covington lawyer to be named a Fellow, joining Andrew Smith and David Stein. Mr. Mogilnicki focuses his practice on assisting clients with investigations, examinations, and enforcement actions by the ...
Court May Not Rule on CFPB Structure
February 17, 2017, The Wall Street Journal
Eric Mogilnicki is quoted by The Wall Street Journal in an article regarding the recent decision by the U.S. Court of Appeals ordering a rehearing of an earlier ruling that the CFPB’s single-director structure was unconstitutional. However, as Mogilnicki points out, the court may not even rule on the question of constitutionality: “The court could resolve the ...
February 13, 2017, BNA’s Banking Report
February 3, 2017, Covington Alert
Throughout his campaign, President Donald Trump promised to curtail financial regulations, particularly those promulgated under the Dodd-Frank Act. President Trump argued frequently that the regulations issued under the act have proven overly burdensome and, among other things, limited job growth. This afternoon, the President took his first formal step in ...
The Lateral Report
February 2017, The American Lawyer
Eric Mogilnicki was featured as a “Lateral All-Star” in The American Lawyer’s Lateral Report, recognizing his move to Covington as one of the “most notable and intriguing” in 2016.
On Trump's Hit List: The CFPB
December 29, 2016, Corporate Counsel
Eric Mogilnicki is quoted in a Corporate Counsel article regarding the anticipated spotlight on the Consumer Financial Protection Bureau in 2017 following Donald Trump’s election and an October 2016 ruling from the U.S. Court of Appeals for the D.C. Circuit. According to Mogilnicki, "The election results might speed up some work by the bureau on rules, for ...
November 22, 2016, Bloomberg BNA
Eric Mogilnicki is quoted in a Bloomberg BNA article regarding early signals that could offer insight into the regulatory landscape for financial services under the Trump administration. Mogilnicki says, “I would watch the extent to which other senators support Sen. Elizabeth Warren’s efforts on Trump administration nominees.” He adds, “Those hearings and votes ...
Republican Lawmakers Eye Freeze on Obama Regulations
November 18, 2016, The Wall Street Journal
Eric Mogilnicki is quoted by The Wall Street Journal in an article regarding how Republican lawmakers may use the Congressional Review Act to block Obama-era regulations. According to Mogilnicki, “The CFPB has been working on an arbitration rule for several years, and was poised to issue a final rule in the next few months.” He continues, “It may now find that ...
November 14, 2016, The National Law Journal
Eric Mogilnicki is quoted by The National Law Journal in an article considering the effect of Donald Trump’s presidency on financial regulations. Commenting on the potential impact of Trump on the existence of the CFPB, Mogilnicki says, "The president-elect has experience firing people, and he may seek to fire Director Cordray even if the PHH case is still ...
November 10, 2016, Bloomberg BNA
Eric Mogilnicki is quoted in a Bloomberg BNA article regarding how Donald Trump could affect the leadership and rulemaking and enforcement activities of the Consumer Financial Protection Bureau (CFPB). Commenting on the recent court decision on the constitutionality of the CFPB’s structure, Mogilnicki says, ‘‘There’s a real possibility that the en banc court ...
Regulation by Enforcement
October 27, 2016, Bank Director
Eric Mogilnicki is quoted in a Bank Director article regarding the significant impact the CFPB has had on the banking industry in its first five years of existence. According to Mogilnicki, the bureau signifies an evolution rather than a revolution in the banking industry's regulatory infrastructure. "Banks have always been concerned about compliance and ...
The Consequences of the D.C. Circuit's CFPB Smackdown
October 11, 2016, The National Law Journal
Eric Mogilnicki is quoted in a National Law Journal article regarding the D.C. Circuit’s decision limiting the authority of the Consumer Financial Protection Bureau. According to Mogilnicki, “If the court had ruled that the decisions of the bureau have to be made by a commission, that would cast more doubt than this ruling, which makes clear that Director ...
October 11, 2016, Covington Alert
The U.S. Court of Appeals for the D.C. Circuit today released its long-awaited decision in PHH Corp., et al. v. Consumer Financial Protection Bureau, No. 15-1177 (D.C. Cir., Oct. 11, 2016). The 110-page decision, which includes a concurrence and a concurrence in part and dissent in part, represents a significant blow to the CFPB.
July 28, 2016, Covington Alert
Today, the Consumer Financial Protection Bureau (“CFPB”) issued its outline of proposals under consideration for a debt collection rulemaking that would govern third-party debt collection activities of debt collection agencies, debt buyers, collection law firms, and loan servicers. Release of this outline of proposals signals the start of the Small Business ...
June 30, 2016, American Banker
Eric Mogilnicki is quoted in an American Banker article regarding the ways banks, credit card companies, and other financial firms may react to a CFPB proposal to limit the use of arbitration clauses. Mogilnicki, who expects transition issues as companies try to preserve old clauses, says, “There may be a flood of arbitration clauses added to contracts just ...
Arbitration a Hot Topic at ACS Convention
June 10, 2016, The National Law Journal
Eric Mogilnicki participated in a panel discussion at the American Constitution Society’s annual convention and is quoted in this National Law Journal article regarding arbitration and the future of class actions. According to Mogilnicki, federal agencies such as the Consumer Financial Protection Bureau should take a bigger role in pursuing cases, arguing that ...
May 5, 2016, Covington Alert
Today, the Consumer Financial Protection Bureau published a proposed rule substantially curtailing the ability of financial services firms and consumers to enter into voluntary pre-dispute arbitration clauses. The proposed rule would prevent financial services providers from including arbitration clauses in consumer contracts unless those arbitration clauses ...
Leading Financial Services Lawyer Joins Covington
January 5, 2016
WASHINGTON, DC, January 5, 2016 - Covington announced that Eric Mogilnicki has joined the firm as a partner in its Washington office and will co-chair the firm’s new Consumer Financial Services practice. Andrew Smith, who served as a senior financial services lawyer at the Federal Trade Commission prior to joining the firm, will also lead the newly formed ...
The CFPB Speaks Recent Initiatives and Upcoming Reports
April 27, 2015, Practising Law Institute: Consumer Financial Services Institute (20th Annual)
What’s Unfair and Deceptive Now?
April 16, 2015, American Bar Association: Business Law Section 2015 Spring Meeting
February 3, 2015, Bloomberg BNA's Banking Report
January 28, 2015, Bloomberg BNA's Banking Report
Federal & State Trade Practices
September 11, 2014, ABA Business Law Section Annual Meeting 2014
CFPB and FTC Enforcement Actions
January 12, 2014, ABA Business Law Section, 2014 Winter Meeting
The Consumer Financial Protection Bureau: The Year in Review and the Challenges for 2014
November 15, 2013, Banking & Finance Forum
Remedies and Consumer Financial Services Litigation: Administrative, Private and ADR
September 30, 2013, ABA’s Fourth Annual National Institute on Consumer Financial Services Basics
Consumer Financial Protection Bureau Developments
September 16, 2013, HSBC 2013 U.S. Legal Conference
CFPB’s Responsible Business Conduct: Scope and Application
September 11, 2013, Practicing Law Institute
Consumer Financial Protection Bureau: Investigations, Enforcement Actions and Settlements
June 6, 2013, Webinar
CFPB Supervision Update
May 2, 2013, PLI 18th Annual Consumer Financial Services Institute
The Consumer Financial Protection Bureau: Enforcement
March 22, 2013, The Banking Institute, University of North Carolina School of Law Center for Banking and Finance
February 1, 2013, The Business Lawyer
UDAAP in the Age of the CFPB
January 5, 2013, ABA Business Law Section, 2013 Winter Meeting
Recent Developments Consumer Financial Protection Bureau
March 30, 2012, The Banking Institute, University of North Carolina School of Law Center for Banking and Finance
Outstanding Issues and Concerns of Newly Regulated Industries
January 20, 2012, ALI-ABA Course of Study: The Consumer Financial Protection Bureau: New Rules for Banks, Thrifts, Mortgage Lenders, Credit Card Companies, and Consumer Financial Service Companies
Fair Lending and the Consumer Financial Protection Bureau
January 8, 2012, ABA Consumer Financial Services Committee Panel
July 25, 2011, Securities Regulation & Law Report
- Chambers USA, Financial Services Regulation: Consumer Finance (2017-2019)
- Legal 500 US, Finance - Financial Services Regulation (2017)
- The American Lawyer, Lateral All-Star (2016)
- The Best Lawyers in America, Banking and Finance Law (2016-2019)