For Real Estate Developers: Major Development in Enforcement of the Interstate Land Sales Full Disclosure Act

more+
less-

As part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Consumer Financial Protection Bureau (“CFPB”) has now been charged with the enforcement of the Interstate Land Sales Full Disclosure Act (“ILSA”) as of July 21, 2011. Prior to that time, the Office of Interstate Land Sales Registration (“OILSR”), a sub-agency of the Department of Housing and Urban Development (“HUD”), was tasked with enforcement of ILSA. The CFPB, created to enhance consumer protection and to allow for more effective regulation of the financial and housing markets, is comprised of former HUD officials as well as officials from the Federal Trade Commission, the Treasury Department and the Federal Deposit Insurance Corporation. As such, although ILSA itself has not changed, the CFPB is expected to provide greater protection to consumers and will likely result in significant changes to ILSA in the future.

Please see full alert below for more information.

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


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.

© Snell & Wilmer | Attorney Advertising

Written by:

more+
less-

Snell & Wilmer on:

JD Supra Readers' Choice 2016 Awards
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*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. Or, sign up using your email address.
×
Loading...
×
×