News & Analysis as of

Family Law Finance & Banking Consumer Protection

Read Family Law updates, news, and legal commentary from leading lawyers and law firms:

Implementing Regulation B Spousal Signature Provisions

by Polsinelli on

The Equal Credit Opportunity Act and its implementing rule, Regulation B, prohibit any creditor from discriminating based on sex or marital status, among other protected statuses. All the federal banking agencies are involved...more

CFPB Clarifies Heirs, Divorcees and Estate Planning Transferees Are Not Subject to Ability-to-Repay Rules

The CFPB issued an interpretive rule to clarify that when a borrower dies, the name of the borrower’s heir generally may be added to the mortgage without triggering the Bureau’s Ability-to-Repay rule. This clarification will...more

CFPB takes steps to protect foster care youth from credit reporting problems

by Ballard Spahr LLP on

To address concerns about the vulnerability of foster care children to credit reporting problems, the CFPB has published three action letter templates for child welfare caseworkers to send to credit bureaus if they find...more

FHA Fresh Start Program Now Available 1 Year After Bankruptcy

by Christine Kingston on

New FHA Fresh Start Program provides mortgage financing in as little as 12-Months after a bankruptcy, short sale or foreclosure. Restrictions apply. Please contact a qualified mortgage broker for details. Stop struggling...more

CFPB Proposes Making it Easier for Stay-at-Home Spouses and Partners to Get Credit Cards

by Katten Muchin Rosenman LLP on

On October 17, the Consumer Financial Protection Bureau (CFPB or Bureau) proposed updates to existing regulations to make it easier for spouses or partners who do not work outside of the home to qualify for credit cards. The...more

Financially Adrift and Lost on Long Island

by Frank Pipitone on

A recent HBO documentary details the impact of the "Great Recession" on Long Island residents....more

CFPB: Next Up, Reverse Mortgages!

by Jonathan Foxx on

In a June 28, 2012 Report to Congress, the Consumer Financial Protection Bureau (the CFPB or the Bureau) published its study of reverse mortgage transactions. This study was required by Section 1076 of the Dodd-Frank Wall...more

Best Time to File Bankruptcy: Before or After Divorce?

by Frank Pipitone on

Bankruptcy and divorce often coincide. The common question arises: When is the best time to file bankruptcy, before or after the divorce? Filing bankruptcy before divorce is almost always the recommended path. ...more

FinCEN: Elder Abuse - Red Flags

by Jonathan Foxx on

On February 22, 2011, the Financial Crimes Enforcement Network (FinCEN) issued an advisory to assist the financial industry in reporting instances of financial exploitation of the elderly, a form of elder abuse. Financial...more

Money is a Matter of the Heart

by Christine Kingston on

Take a journey from your head to your heart and bring your wallet with you. This white paper is a personal journey and can be shared with clients and consumers. Enjoy....more

SEC Proposes Rule to Exclude Family Offices from Regulation as Investment Advisers

by Katten Muchin Rosenman LLP on

The Securities and Exchange Commission has proposed Rule 202(a)(11)(G)-1 under the Investment Advisers Act of 1940, as amended (Advisers Act), to define “family offices” that would be excluded from the definition of...more

Taking Back Oz Through Bankruptcy Liquidation

by Christine Kingston on

Breaking the illusion of the current economic crisis by taking a symbolic look at the classic film, Wizard of Oz. I propose a sequel. ...more

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