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CFPB’s Supervisory Highlights Document Mortgage, Student Loan Violations

Why it matters In the latest edition of The Bureau of Consumer Financial Protection (CFPB) Supervisory Highlights, the Bureau reported continuing violations in several markets. The Fall 2014 report, which covers...more

Supervisory Highlights

In This Issue: - Introduction - Supervisory observations ..Consumer reporting ..Debt Collection ..Deposits ..Mortgage servicing ..Student loan servicing ..Fair Lending: CFPB’s HMDA...more

CFPB Report Highlights Errors In Mortgage And Student Loan Servicing

On October 28, the CFPB released the fifth edition of its Supervisory Highlights report. The report highlighted the CFPB’s recent supervisory findings of regulatory violations and UDAAP violations relating to consumer...more

Another report debunks comparison between student debt and mortgage loan crisis

A new report from The Vanguard Group disagrees with those who seek to draw comparisons between the current level of student debt and the level of mortgage debt that led to the housing crisis. Titled “No bubble to...more

New studies challenge CFPB claims that student loan debt is discouraging homeownership

The charge that student loan debt is causing young adults to postpone home ownership has come from various quarters, including the CFPB. However, two new studies, one the subject of an article released earlier this year and...more

Director Cordray testifies before Senate committee

Yesterday, the Senate Committee on Banking, Housing and Urban Affairs heard testimony from Director Cordray at its hearing titled “The Consumer Financial Bureau’s Semi-Annual Report to Congress.” Noteworthy aspects of...more

We’ve Only Just Begun - Lessons From the CFPB’s First 35 Enforcement Cases

Few agencies have generated as much controversy as the Consumer Financial Protection Bureau. The brainchild of Senator Elizabeth Warren when she was still a professor and the product of the Dodd-Frank Wall Street Reform and...more

CFPB Director Testifies Before Senate Banking Committee

On November 12, CFPB Director Richard Cordray testified before the Senate Banking Committee in connection with the CFPB’s recent Semi-Annual Report to Congress, which covered the period April 1, 2013 through September 30,...more

Banking & Financial Services E-Note - October 30, 2013

In This Issue: - Fed Proposes Rule Requiring Banks to Stay Liquid During Crisis - Simulation Tests Banks' Survival Against Cyber Attacks - Largest Banks Close to Meeting Mortgage Settlement Obligations -...more

Banking & Financial Services E - Note - May 30, 2013

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

CFPB Announces Major Update To Consumer Complaint Database

On March 28, the CFPB released tens of thousands of consumer complaints related to mortgages, student loans, bank accounts and services, other consumer loans, and credit cards. Credit reporting complaints, will be released in...more

CFPB’s ECOA disparate impact test finds support in HUD’s FHA “Discriminatory Effects” final rule

In April 2102, the CFPB issued a bulletin to confirm that it plans to apply a disparate impact test in exercising its supervisory and enforcement authority under the Equal Credit Opportunity Act (ECOA) and Regulation B. The...more

Weekly Brief: Lawyers Laid Off After Foreclosure Settlement  [Video]

Jan. 10 (Bloomberg Law) -- Bloomberg Law's Lee Pacchia runs through the legal news for the week. A major settlement between Fannie Mae and several large banks has resulted in many lawyers suddenly finding themselves...more

School Concurrency Impacts Residential Development in Miami-Dade County

With increased international investment, Miami-Dade County has seen a rebound in the real estate market, particularly with regard to residential projects in high-density areas in Miami's urban core and bayfront and beachfront...more

New Study Shows Declines in TIF Revenues

Tax Increment Financing (TIF) Districts throughout Illinois are experiencing declines in revenues as a consequence of the changes in the real estate market. TIF Districts operate by diverting a portion of property tax revenue...more

Gender Identity Will Become A Protected Class In Massachusetts

The Massachusetts legislature has amended its state anti-discrimination law to prohibit discrimination based on gender identity in employment, insurance, housing, lending, credit and education. The legislation also expanded...more

Massachusetts Enacts Law Prohibiting Discrimination Against Transgendered Individuals

Last week, Governor Deval Patrick signed into law “An Act Relative to Gender Identity,” also known as the Massachusetts Transgender Equal Rights Bill. This law, which will go into effect in July 2012, extends the state’s...more

Massachusetts Enacts Transgender Equal Rights Bill

On November 23, 2011, Governor Patrick signed into law House Bill 3810, “An Act Relative To Gender Identity.” The new law protects transgender individuals from discrimination in housing, education, employment and credit by...more

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