Administrative Law, Consumer Protection, Finance & Banking

Private Student Lenders and Servicers Face CFPB Scrutiny

by Benjamin Saul | BuckleySandler LLP on 5/20/2013

Regulators and congressional leaders have identified similarities between the lending practices that led to the subprime mortgage crisis and an escalating default rate in the burgeoning level of student loan debt. Rather...more

FinCEN: Accountant and Elder Abuse

by Jonathan Foxx on 5/17/2013

We have been keeping track of FinCEN's SAR Activity Review – Trends, Tips & Issues virtually from its inception. In its just issued May 2013 report, FinCEN provides new information regarding two areas of importance: 1)...more

GSEs: Ability-to-Repay and Qualified Mortgages

by Jonathan Foxx on 5/7/2013

Yesterday, the Federal Housing Finance Agency (FHFA) announced that it is directing Fannie Mae ("Fannie") and Freddie Mac ("Freddie") to limit their future mortgage acquisitions to loans that meet the requirements for a...more

Waiting for the CFPB

by Jonathan Foxx on 4/23/2013

My sources tell me that the Consumer Financial Protection Bureau (CFPB) will soon announce substantial monetary penalties and other administrative actions against a large nonbank. I guess it is inevitable that when such an...more

CFPB Issues Final Rule On FOIA And Litigation Procedures

by Stephen M. Quinlivan | Leonard, Street and Deinard - Dodd-Frank and... on 2/18/2013

The CFPB has issued a final rule that establishes procedures for the public to obtain information from the Bureau of Consumer Financial Protection, under the Freedom of Information Act, the Privacy Act of 1974, and in legal...more

InfoBytes Special Alert: Detailed Analysis Of CFPB's Final Escrow Rule

by Jeremiah Buckley, Joseph Kolar, John Kromer, Jeffrey Naimon, Joseph Reilly, Clinton Rockwell | BuckleySandler LLP on 2/15/2013

On January 10, 2013, the Consumer Financial Protection Bureau issued its final rule on escrow account requirements for first-lien higher-priced mortgage loans. The rule amends existing escrow requirements and exemptions for...more

Keeping a stiff upper lip is no answer here!

by Alan S. Kaplinsky | Ballard Spahr LLP on 1/29/2013

While the CFPB has not yet issued a formal written statement about the impact of the D.C. Circuit’s recent opinion in Canning v. NLRB on the Bureau, the Wall Street Journal reported in its weekend edition that a CFPB...more

CFPB's Gang of Seven (Final Rules)

by Jonathan Foxx on 1/24/2013

This has been a busy month for the Consumer Financial Protection Bureau (CFPB). Since the advent of the New Year, the CFPB has issued seven Final Rules that impact residential mortgage loan originations. The finale was...more

CFPB Issues Final Rules Amending Regulation X and Regulation Z

by Jennifer N. Toussaint | Foley & Lardner LLP on 1/18/2013

Today, the CFPB issued final rules amending Regulation X (Real Estate Settlement Procedures Act (“RESPA”)) and Regulation Z (Truth in Lending Act (“TILA”)). The amendments focus on mortgage servicing requirements and servicer...more

CFPB Issues Final Mortgage Servicing Rules

by Richard J. Andreano, Jr., John D. Socknat, Michael S. Waldron | Ballard Spahr LLP on 1/18/2013

The CFPB today issued its final rules implementing provisions of the Dodd-Frank Act that relate to mortgage servicing, which will take effect on January 10, 2014....more

Financial Services Bulletin: Action At The CFPB

by Perkins Coie on 1/18/2013

On Thursday, January 10, 2013, the Consumer Financial Protection Bureau ("CFPB") issued a final rule amending Regulation Z pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act"). ...more

CFPB proposes more information collections

by Barbara S. Mishkin | Ballard Spahr LLP on 1/17/2013

Earlier this week, the CFPB published in the Federal Register a request for comments on its plans to submit a request to the Office of Management and Budget for generic clearance of an information collection to assist the...more

Employers Should Use Revised FCRA Disclosure for Employees and Job Applicants

by Keith Barnett, Thomas Bundy, III, Knox Dobbins, Peter Farley, Jaliya Stewart Faulkner, Allegra Lawrence-Hardy, Jason Stone, Mark Thibodeaux, Annette Tripp, Gail Westover | Sutherland Asbill & Brennan LLP on 1/16/2013

Employers who use consumer reports as part of their decision-making process in the hiring, promotion or firing of employees should note the attached “A Summary of Your Rights under the Fair Credit Reporting Act” issued by the...more

Time for a Consumer Financial Protection Compliance Tune-up

by Alexandra Megaris, Jonathan L. Pompan | Venable LLP on 1/16/2013

New Year’s is a good time for a Consumer Financial Protection Bureau (“CFPB”) compliance tune-up. Providers of consumer financial products and services (“providers”) operate in a dynamic environment influenced by challenges...more

U.S. Consumer Financial Protection Bureau Issues Rules on Qualified Mortgages and Ability to Repay

by Linda Ann Bartosch, Patrick D. Dolan, Robert H. Ledig, Ralph R. Mazzeo, Laurie Nelson, Thomas P. Vartanian | Dechert LLP on 1/16/2013

Congress in the Dodd-Frank Act responded to concerns about the quality of mortgage loans by establishing incentives for lenders to seek to ensure that borrowers had the ability to repay mortgage loans made to them. In...more

The Consumer Financial Protection Bureau Finalizes the Ability-To-Repay and Qualified Mortgage Rule

by Jennifer Dioguardi | Snell & Wilmer L.L.P. on 1/15/2013

The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) amended the Truth in Lending Act (TILA) to provide for an expanded ability-to-repay requirement for the mortgage lending industry. The Consumer...more

Final Rule Issued on Ability-to-Repay/Qualified Mortgages

by Jennifer M. Keas | Foley & Lardner LLP on 1/15/2013

The Consumer Financial Protection Bureau (CFPB) issued its final ability to repay rule (Rule) on January 10, 2013. The Rule implements ability-to-repay provisions of the Dodd-Frank Act, which imposed strict underwriting...more

CFPB Finalizes Ability-to-Repay Rule for Mortgage Lenders, Defines “Qualified Mortgage” and Proposes Exemption to Ability-to-Repay...

by Patton Boggs LLP on 1/15/2013

On Thursday, January 10, 2013, the Consumer Financial Protection Bureau (CFPB) released its final rule on the ability-to-repay requirements, including the definition of “Qualified Mortgage,” that was mandated by the...more

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Administrative Law › Consumer Protection › Finance & Banking

Private Student Lenders and Servicers Face CFPB Scrutiny

FinCEN: Accountant and Elder Abuse

GSEs: Ability-to-Repay and Qualified Mortgages

Waiting for the CFPB

CFPB Issues Final Rule On FOIA And Litigation Procedures

InfoBytes Special Alert: Detailed Analysis Of CFPB's Final Escrow Rule

Keeping a stiff upper lip is no answer here!

CFPB's Gang of Seven (Final Rules)

CFPB Issues Final Rules Amending Regulation X and Regulation Z

CFPB Issues Final Mortgage Servicing Rules

Financial Services Bulletin: Action At The CFPB

CFPB proposes more information collections

Employers Should Use Revised FCRA Disclosure for Employees and Job Applicants

Time for a Consumer Financial Protection Compliance Tune-up

U.S. Consumer Financial Protection Bureau Issues Rules on Qualified Mortgages and Ability to Repay

The Consumer Financial Protection Bureau Finalizes the Ability-To-Repay and Qualified Mortgage Rule

Final Rule Issued on Ability-to-Repay/Qualified Mortgages

CFPB Finalizes Ability-to-Repay Rule for Mortgage Lenders, Defines “Qualified Mortgage” and Proposes Exemption to Ability-to-Repay...

Senators Ask Regulators To Halt Bank Payday Lending

President Signs Bill Enhancing Enforcement Of The Military Lending Act

2013 Outlook for Credit Counseling: A Legal and Regulatory Perspective

CFPB Increases HMDA Asset Size Exemption Threshold

CFPB semiannual regulatory agenda: missing items and other mysteries

CFPB Rules on Ability-to-Repay and Qualified Mortgages

CFPB Issues Final Ability To Repay Rule And ‘Qualified Mortgage’ Standard

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