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Consumer Protection Construction Finance & Banking

Read Consumer Protection updates, news, and legal commentary from leading lawyers and law firms:

Home Financing Company Settles with State of New Jersey

by Goodwin on

On June 22, 2017, the New Jersey Office of the Attorney General (“New Jersey AG”) ??and the New Jersey Division of Consumer Affairs (“New Jersey DCA”) announced a settlement with a Georgia financing company that facilitates...more

The ILSA Condo Exemption – Not Out of the Woods Yet

by Carlton Fields on

The Interstate Land Sales Full Disclosure Act (ILSA) is a federal statute that aims to prevent land sales fraud and uninformed purchases of unimproved real property by requiring registration of subdivisions with the Consumer...more

CFPB Construction Loan "Fact Sheet" Falls Far Short of Necessary Guidance

by Ballard Spahr LLP on

The Consumer Financial Protection Bureau (CFPB) has issued a "fact sheet" regarding the disclosure of construction-to-permanent loans under the TILA/RESPA Integrated Disclosure (TRID) rule, which the CFPB refers to as the...more

CFPB Releases Guidance on Construction Loan Disclosures

by BakerHostetler on

On January 12, the CFPB released a Construction Loans Fact Sheet reviewing the basics of construction loan disclosures under the TILA/RESPA Integrated Disclosure (“TRID”) Rule. This resource briefly summarizes the TRID...more

CFPB construction loan “fact sheet” falls far short of necessary guidance

by Ballard Spahr LLP on

The CFPB has issued what it calls a “fact sheet” regarding the disclosure of construction-to-permanent loans under the TILA/RESPA Integrated Disclosure (TRID) rule, which the CFPB refers to as the Know Before You Owe rule....more

Wells Fargo Ends Marketing Services Arrangements with Builders

Concerned about “increasing uncertainty surrounding regulatory oversight of these types of arrangements,” Wells Fargo is ending all of its roughly 200 mortgage marketing services and desk rental agreements with builders and...more

Coming Soon... New Closing (no, Consummation...) Rules!

by Barley Snyder on

What?! We can’t call it a closing anymore? Under new federal regulations regarding the Truth in Lending Act (“TILA”) and the Real Estate Settlement Procedures Act (“RESPA”), the terminology for a “closing” or “settlement” is...more

Business Processing Debit Card Payment Held Liable for Failure to Obtain Written Authorization

by Varnum LLP on

With the increasing use of debit cards to pay for goods and services comes risk for businesses who do not routinely process debit card payments. A recent example of this risk is highlighted in Kelsey v Pitsch Companies. ...more

Condominium unit ILSA sales exemption now effective

by Ballard Spahr LLP on

Effective March 25, 2015, the sale of condominium units are no longer subject to the registration requirements of the Interstate Land Sales Full Disclosure Act (ILSA) under a new exemption. This new exemption applies only to...more

CFPB Finalizes Minor Changes to “Know Before You Owe” Rules

On January 20, CFPB finalized two minor modifications to the “Know Before You Owe” mortgage disclosure rules. The changes, which were proposed in October 2014, address when consumers will receive updated disclosures after...more

Condo Developers Getting Relief From Washington

In an uncharacteristic bipartisan style, the House of Representatives of the U.S. Congress passed H.R. 2600 on September 26, 2013, and almost a year later, on September 19, 2014, the Senate followed by enacting S.2101....more

TEXAS - Defendant's Original Answer + Affirmative Defenses

by Curt Langley on

A form and template Defendant's Original Answer for use in Texas state courts....more

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