Ballard Spahr LLP

CFPB publishes guidance regarding RESPA-TILA integrated disclosure forms

The CFPB recently published guidance (the Guide) to assist mortgage originators and settlement service providers in completing the Loan Estimate and Closing Disclosure forms required under the RESPA-TILA Integrated Disclosure…more

| Finance & Banking, Consumer Protection, Real Estate - Residential

Bill introduced to limit CFPB smaller bank supervisory authority

A bill introduced by Republican Senator Dan Coats would further limit the CFPB’s supervisory authority as to insured depository institutions and credit unions with total assets of $10 billion or less…more

| Elections & Politics, Finance & Banking, Consumer Protection

Hints of future payday rule-making

Laura Udis, the CFPB’s program manager for the payday lending industry, spoke on April 10 in Los Angeles on a panel sponsored by the American Bar Association Consumer Financial Services Committee. CFPB staff members are…more

| Finance & Banking, Consumer Protection

CFPB amends CashCall complaint

The CFPB has filed an amended complaint in its lawsuit against CashCall and several related companies that funded, purchased, serviced and collected online payday loans to identify additional states in which the loans defendants…more

| Civil Procedure, Finance & Banking, Consumer Protection, Indigenous...

Pew Checking Accounts Report Makes Troubling Recommendations

The Pew Charitable Trusts has released another report evaluating the checking account disclosure practices of the nation’s largest banks. Despite finding that disclosure practices have improved, Pew again urges the Consumer…more

| Alternative Dispute Resolution (ADR), Finance & Banking, Consumer...

FDIC regional offices issue UDAP guidance on continuous overdraft fees

Based on the CFPB’s rulemaking agenda issued in December 2013, we continue to expect overdraft programs to be the subject of another CFPB white paper and/or an advance notice of proposed rulemaking this year. (In June 2013, the…more

| Antitrust & Trade Regulation, Finance & Banking, Consumer Protection

CFPB promotes online student financial aid resources

In a new blog post, the CFPB promotes its online financial aid resources to students who are now in the process of choosing which school to attend this fall. The blog post directs students to a just-launched “crisp new…more

| Education, Finance & Banking, Consumer Protection

Maine Moves Closer to Adopting the National SAFE MLO Test

Last month, Maine state lawmakers passed legislation that became law without Governor Paul LePage's signature that removed statutory language to facilitate the adoption of the Uniform State Test (UST) by the Maine Bureau of…more

| Finance & Banking, Real Estate - Residential

New York State To Require Title Agents To Be Licensed

With the passage of the New York 2014-15 budget, New York becomes one of the last states in the country to license title agents. The budget includes measures that authorize the Department of Financial Services (DFS) to regulate…more

| Finance & Banking, Consumer Protection, Insurance, Real Estate -...

Virginia Enacts Transitional MLO Licensing Law for Out-of-State MLOs

Last month, Virginia Governor Terry McAuliffe signed Senate Bill 118, creating a transitional mortgage loan originator (MLO) license. Specifically, the law authorizes Virginia's State Corporate Commission to issue a transitional…more

| Finance & Banking, Real Estate - Residential

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