In this issue:

- CFPB Amends Ability-to-Repay Rule to Ease Standards for Small Creditors

- Assistant Managers Fail to Break the Piggy Bank...For Now

- Federal Agencies Make Changes to Regulation Governing the Garnishment of Deposit Accounts Containing Benefit Payments

- Fourth Circuit is the First to Hold Absolute Priority Rule Applicable to Individual Chapter 11 Debtors In re Maharaj, 681 F.3d 558 (4th Cir. 2012)

- CRA and Disparate Impact Now More Muddled Than Ever

- Excerpt from: CFPB Amends Ability-to-Repay Rule to Ease Standards for Small Creditors:

On May 28, the Consumer Financial Protection Bureau (the “CFPB”) finalized important amendments to its ability-to-repay rule. Among other things, the amendments are intended to help small creditors comply with the law and preserve consumer access to credit from such creditors. “Small creditor” is defined in the rule to generally mean a creditor with no more than $2 billion in assets that (along with affiliates) originates no more than 500 first-lien mortgages covered under the ability to-repay rule per year.

Please see full newsletter below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

Published In:

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Reed Smith | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.