Read Consumer Protection updates, news, and legal commentary from leading lawyers and law firms:
Is Edward Snowden a Whistleblower?
Unique Privacy Concerns for Mobile Apps
Instapundit: America's IP Laws Need to be "Pruned Back"
Bill on Bankruptcy: Trustees Sleep Easy after High Court Ruling
Could This Law School Ranking Unseat US News?
Bill on Bankruptcy: Kodak Plan Bumps the Debt, Craters Stock
Tips for Mobile App Privacy Compliance
Bill on Bankruptcy: Easterbrook Turns the Tide on Student Loans
Bill on Bankruptcy: Stockton May Win the Battle, Lose the War
Buchheit: Cyprus Could Need a Second Bailout
Bill on Bankruptcy: Sigmund Freud, Marx Brothers, Bernie Madoff
Craft Beer Boom in Michigan
Law Prof: I May File Law School Ethics Charges
Monster Energy Drink Accused of Teen Death
A New World for Mortgage Banking – What You Need to Know About the CFPB’s Final Mortgage Servicing Rules
Beware of Notarios
What’s Next from the CFPB
Weekly Brief: Lawyers Laid Off After Foreclosure Settlement
Dean: There's No Oversupply of Lawyers
Jennifer Abril on The Story of Fragrances
CFPB Director Richard Cordray was among the speakers at a program last week celebrating the fifth anniversary of the Philadelphia Residential Mortgage Diversion Program....more
Have you been wondering whether the Consumer Financial Protection Bureau (“CFPB”) is focusing its enforcement efforts on the Real Estate Settlement Procedures Act (“RESPA” or “Act”)? After the public announcement of two...more
On June 4, New York Attorney General Eric Schneiderman (AG) announced a lawsuit against a major financial institution for allegedly violating state law by failing to timely file in foreclosure cases “requests for judicial...more
On June 4, the CFPB released new TILA and ECOA examination procedures, which were updated to incorporate certain of the CFPB mortgage rules finalized in January 2013 that address appraisals, escrow accounts, and mortgage loan...more
The CFPB’s website now has a regulatory implementation page that provides “one stop shopping” for all of its 2013 mortgage rules and related implementation materials....more
In January 2013, the Consumer Financial Protection Bureau (“CFPB”) issued a number of new final rules to implement amendments to the Truth in Lending Act (“TILA”), Real Estate Settlement Procedures Act (“RESPA”), and Equal...more
The CFPB has issued two more Small Entity Compliance Guides on its mortgage-related rules. The latest guides cover the mortgage servicing rule and loan originator compensation rule finalized by the CFPB in January 2013....more
On June 4, the CFPB published an update to its exam procedures for the new mortgage regulations issued in January 2013 relating to appraisals, escrow accounts, and compensation and qualifications for loan originators....more
On May 29, the CFPB issued a final rule to delay the effective date of a prohibition on creditors financing credit insurance premiums in connection with certain mortgage transactions. ...more
This week, the CFPB published an update to its examination procedures to account for the new mortgage regulations going into effect in January 2014. The update includes Interim TILA Examination Procedures and Interim ECOA...more
Although this year’s conference displayed a willingness of regulators to cooperate with industry efforts to comply with new regulations, the CFPB nevertheless shows no hesitation in filing enforcement actions, using civil...more
On June 4, eight industry groups sent a letter addressed to HUD Secretary Shaun Donovan and CFPB Director Richard Cordray requesting much needed written guidance from HUD and the CFPB that makes clear that compliance with the...more
On May 29, 2013, the Consumer Financial Protection Bureau (CFPB) issued a final rule amending its Ability to Repay/Qualified Mortgage (ATR/QM) rule, originally issued on January 10, 2013....more
On May 29, the Consumer Financial Protection Bureau (CFPB) finalized rules to facilitate access to credit by creating specific exemptions and modifications to the CFPB’s Ability-to-Repay rule for small creditors, community...more
On May 24, Minnesota enacted SF 1276, which adds pre-foreclosure requirements for most mortgage servicers. ...more
On May 17, 2013, the Consumer Financial Protection Bureau (“CFPB”) issued a consent order to Paul Taylor Homes Limited, Paul Taylor Corp. and Paul Taylor individually (altogether “Taylor”) based on the CFPB’s findings that...more
On May 23, a group of 17 housing and advocacy organizations sent a letter to U.S. District Court Judge Rosemary Collyer – the judge presiding over the consent judgments that constitute the National Mortgage Settlement –...more
A number of industry groups1 (the “Industry Groups”) raised concerns recently when Mortgage Resolution Partners (“MRP”) entered into contracts with two additional municipalities to formalize the use of eminent domain programs...more
The Consumer Financial Protection Bureau (“CFPB”) has issued a final rule modifying certain provisions of the “ability-to-repay” (“ATR”) mortgage requirements issued last January....more
On May 22, the U.S. Court of Appeals for the Ninth Circuit affirmed a district court’s holding that the National Bank Act (NBA) preempts state disclosure requirements on a bank’s deposit-related activities. Robinson v. Bank...more
On May 29, the CFPB issued a final rule amending its ability-to-repay and qualified mortgage (QM) rule. The amendments, effective in conjunction with the ability-to-repay rule on January 10, 2014, (i) exempt certain nonprofit...more
In This Issue: - New Suits Filed as Credit Card Swipe Fee Settlement Deadline Looms - Sec. Lew Tells Senate Committee of Plans to Accelerate Dodd-Frank - New Mortgage Rule to Block Access to Credit, Witnesses...more
On May 20, the CFPB issued Bulletin 2013-05, which clarifies that the Uniform State Test (UST) developed by the NMLS may constitute a qualified written test under the federal SAFE Act for state-licensed mortgage loan...more
Yesterday afternoon, the Consumer Financial Protection Bureau (“Bureau”) finalized important amendments (the “Amendments”) to its ability-to-repay/qualified mortgage rule (the “Rule”) concerning the extent to which loan...more
Scams abound in the bank mortgage lending industry. Many homeowners are duped into signing what they believe to be “temporary” loan modifications, only to learn later that they do not qualify for permanent loan modifications...more
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