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Report from SBREFA Panel on Payday, Title and Installment Loans

Wednesday, I had the opportunity to participate as an advisor to a small entity representative (“SER”) at the small business review panel on payday, title and installment loans. The meeting was held in the Treasury Building’s...more

The TCPA: Deep Dive: Details, Class Actions, Regulations, and Defense Strategies [Video]

In Part One of our complimentary, two-part webinar on the TCPA, we covered the basics. Join us for the second hour-long segment, as we get into the weeds of the TCPA. Part Two will cover: Exemptions/Details · What is an...more

CFPB Proposes New Rules for Payday Loans

On March 26, 2015, the Consumer Financial Protection Bureau (the Bureau) proposed new regulations on short-term loans, commonly known as "payday loans," which are typically issued by non-depository institutions. The Bureau...more

The TCPA: Basics, Targeted Industries, and Trends [Video]

The Telephone Consumer Protection Act (TCPA) was originally enacted to curb intrusive telemarketing and "robo" calls by restricting calls made to residences, and those made to cell phones using automated telephone dialing...more

Special Alert: CFPB Releases Outline Of Proposed Rule For Payday, Vehicle Title, And Similar Loans

On March 26, the CFPB announced that it is considering proposing a rule to “end payday debt traps” and released several related documents, including a fact sheet and an outline of the proposal that will be presented to a...more

California Set to Consider Virtual Currency Guidelines

On February 27, California Assembly Member Matt Dababneh introduced AB 1326, which would provide guidelines for individuals or businesses who conduct business using virtual currency. The legislation would prohibit a person...more

Henning vs Wachovia Mortgage FSB aka Wells Fargo Bank N.A.

Federal Judge William Young in Massachusetts Orders Wells Fargo and a majority of its board to approve a corporate resolution...

Federal Judge William Young in Massachusetts is making an unusual request of Wells Fargo in a Sept. 17 ruling in which he's requiring the bank's president and a majority of its board to approve a corporate resolution stating...more

FBI's Mortgage Fraud Report as Prepared by the Financial Crimes Intelligence Unit

The objective of this study is to provide FBI program managers and the general public with relevant data to better understand the threat posed by mortgage fraud. The report was requested by the Financial Crimes Section,...more

DEPARTMENT OF JUSTICE PRESS RELEASE Re: Government Restated their Statistics because it "Got Caught Red-Handed" by Bloomberg News

LIES: Eric Holder Owes the American People an Apology When Holder first trotted out these figures last October, he bragged during a press conference about the results of the government’s “Distressed Homeowner Initiative,”...more

PHILLIP R. CORVELLO, Plaintiff-Appellant, v. WELLS FARGO BANK, NA, DBA America’s Servicing Company, DBA Wells Fargo Home Mortgage, Inc., Defendant-Appellee

APPELLANTS’ OPENING BRIEF Re: Wells Fargo Mortgage Modification Lawsuits Revived by 9th Circuit Court of Appeals

ISSUES PRESENTED 1. Whether the district court erred in ruling that plaintiffs failed to allege the existence of binding TPP Agreements. 2. Whether the district court erred by dismissing plaintiffs’ breach of TPP...more

LPS Mortgage Monitor July 2013 Mortgage Performance Observations

The June Mortgage Monitor report released by Lender Processing Services (NYSE: LPS) found that the nearly 10 percent spike in the national delinquency rate reported in the company’s “First Look” at mortgage performance was...more

FORMER EXECUTIVE LORRAINE BROWN AT FLORIDA-BASED LENDER PROCESSING SERVICES INC. SENTENCED TO FIVE YEARS IN PRISON FOR ROLE IN...

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Tuesday, June 25, 2013 FORMER EXECUTIVE AT FLORIDA-BASED LENDER PROCESSING SERVICES INC. SENTENCED TO FIVE YEARS IN PRISON FOR ROLE IN...more

CFPB Study of Overdraft Programs A white paper of initial data findings June 2013

Overdraft fees—many of them encouraged and generated through unfair and deceptive practices—cost consumers billions of dollars each year. Overdrafts are a particular problem when consumers use a debit card to make purchases...more

Office of the Comptroller of the Currency’s Minimum Standards for Prioritization and Handling Borrower Files Subject to Imminent...

Office of the Comptroller of the Currency’s Minimum Standards for Prioritization and Handling Borrower Files Subject to Imminent Foreclosure Sale for all OCC Regulated Banks. The OCC guidance is significant because it...more

VERONICA GUTIERREZ, ERIN WALKER, and WILLIAM SMITH v WELLS FARGO BANK N.A.

CLASS ACTION FINDINGS OF FACT AND CONCLUSIONS OF LAW AFTER BENCH TRIAL AWARDING $203 MILLION TO WELLS FARGO'S CALIFORNIA CUSTOMERS

CLASS ACTION FINDINGS OF FACT AND CONCLUSIONS OF LAW AFTER BENCH TRIAL AWARDING $203 MILLION TO WELLS FARGO'S CALIFORNIA CUSTOMERS. On May 14, 2013 the U.S. District Court for the Northern District of California...more

Senator Elizabeth Warren's May 14, 2013 letter to Ben Bernanke, Eric Holder, & Mary Jo White

Senator Elizabeth Warren's May 14, 2013 letter to The Board of Governors of the Federal Reserve System, U.S. Department of Justice...

Senator Elizabeth Warren Pushes Feds For Answer On Big Bank Enforcement WASHINGTON — Sen. Elizabeth Warren (D-Mass.) raised the stakes of her quest to find out why a single Wall Street bank has not been prosecuted in the...more

Bitcoin: A Peer-to-Peer Electronic Cash System (Satoshi Nakamoto "White Paper"))

Satoshi Nakamoto Abstract re Bitcoin White Paper: A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution....more

ROBO-LITIGATION Re: Attorney Misconduct at Foreclosure Mills

ROBO-LITIGATION Re: Attorney Misconduct at Foreclosure Mills The scale of attorney malfeasance in connection with the foreclosure crisis is enormous. Whether attorneys knowingly filed false documents or simply failed to...more

National Consumer Law Center Re: Restoring the Wisdom of the Common Law: Applying the Historical Rule Against Contractual Penalty...

NATIONAL CONSUMER LAW CENTER (NCLS) Banks Raking In Billions In Profits From Overdraft Fees The notion behind an overdraft fee — in which a bank customer is charged a penalty for overdrafting his account — is twofold:...more

FDIC to host banker teleconferences on CFPB mortgage rules

The FDIC has scheduled the following three free teleconferences on the CFPB’s new mortgage-related rules for officers and employees of FDIC-supervised institutions... ...more

CFPB Examinations And Enforcement

The CFPB is the new regulator on the block. Republicans in Congress continue to try to strangle the CFPB from exercising its legal authorities. The re-election of President Obama ensured that the CFPB will continue to...more

Are New Rules for Gift Cards on the Horizon?

Chances are that you are either gave or received a gift card this holiday season. The National Retail Federation estimates that over 80 percent of shoppers purchased at least one gift card in 2012, and sales of gift cards are...more

Bank Acquistion & Fair Lending

An analysis of how to avoid and/or contain potential fair lending liability when acquiring a bank. Written by Frances Floriano Goins, Richik Sarkar, and Gregory Stein....more

REPORT of U.S. Department of Housing and Urban Development Re: Audit for Wells Fargo Bank,Foreclosure and Claims Process

RESULTS OF REVIEW Wells Fargo did not establish effective control over its foreclosure process. This failure permitted a control environment in which The affiants routinely signed and certified that they had personal...more

President Signs H.R. 4367 Eliminating the Requirement of Exterior Fee Disclosure Signage on ATM’s

On December 20, 2012, President Obama signed H.R. Bill 4367, which became effective upon his signing of the bill, and which eliminates the mandatory requirement that signage be placed on the exterior of Automated Teller...more

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