On May 2, 2022, Georgia Gov. Brian Kemp signed SB 470, which amends provisions of Georgia’s banking laws relating to the denial or revocation of a mortgage license or registration due to certain felony convictions. SB 470...more
As regulatory agencies provide guidance regarding working from home for financial services professionals while the COVID-19 outbreak progresses, we summarized the additional guidance issued in the recent past and current as...more
As we continue to follow the trend of regulatory agencies providing guidance allow working from home for financial services professionals while the COVID-19 outbreak progresses, we summarized the additional guidance issued in...more
As members of the financial industry prepare to meet the challenges associated with COVID-19, key government agencies have begun to offer guidance with respect to how their regulated financial institutions, including...more
As members of the financial industry prepare to meet the challenges associated with COVID-19, key government agencies have begun to offer guidance with respect to how their regulated financial institutions, including...more
On Wednesday, June 26, 2019, the California Senate Banking Committee will take up AB 642, which would add certain lead generation activities to the definition of “broker” under the California Financing Law (Cal. Fin. Code §...more
In 2013, the Consumer Financial Protection Bureau (CFPB) issued a bulletin on indirect auto lending that took the industry by storm. As we approach the five-year anniversary of the memo’s issuance, it’s valuable to reflect on...more
1/25/2018
/ Automotive Industry ,
Automotive Loans ,
Congressional Review Act ,
Consumer Financial Contracts ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Discrimination ,
Dodd-Frank ,
GAO ,
Lenders ,
Markups ,
Unfair or Deceptive Trade Practices
Auto lenders, like many private citizens, began 2017 curious as to what change the impending Trump administration would bring. In the landscape of government enforcement, however, the consensus amongst industry participants...more
1/22/2018
/ Automotive Industry ,
Automotive Loans ,
Car Dealerships ,
Congressional Review Act ,
Consumer Financial Contracts ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Fair Credit Reporting Act (FCRA) ,
GAO ,
Lenders ,
Markups ,
RESPA ,
Subprime Loans ,
Trump Administration ,
Truth in Lending Act (TILA) ,
Unfair or Deceptive Trade Practices
We have previously written about recent regulatory focus on the student loan servicing industry. In particular, we discussed the issuance of a 151-page report issued by the Consumer Financial Protection Bureau (CFPB) titled...more
10/26/2015
/ Consumer Financial Protection Bureau (CFPB) ,
Department of Education ,
Federal Student Loans ,
Joint Policy Statements ,
Loan Servicer ,
Private Student Loans ,
Regulatory Agenda ,
Student Loans ,
Third-Party ,
Transparency ,
U.S. Treasury ,
Vendors
The CFPB issued Compliance Bulletin 2015-05 (Bulletin) today, which sets forth its position concerning the use of Marketing Services Agreements (MSAs) by mortgage companies and settlement service providers. Importantly, the...more
In welcome news to the industry, the Consumer Financial Protection Bureau (CFPB) announced on June 17, 2015 that it will delay the effective date of TRID (the TILA-RESPA Integrated Disclosure rule) until October 1, 2015....more
In this Presentation:
- Agenda
- CFPB – Approach to Regulation
- CFPB – Hot Mortgage Topics
- Genuine Title, LLC, et al.
- New Day Financial, LLC
- American Preferred Lending, Flagship...more
Mortgage companies and other financial services entities should carefully heed messages provided by their regulatory agencies in three recently released reports. Specifically, on April 27, 2015, three working groups comprised...more