CFPB settles RESPA enforcement action involving affiliated business arrangements by Ballard Spahr LLP on 5/21/2013 ...The CFPB has announced the settlement of an enforcement action in which it was alleged that two affiliated business arrangements (ABA... more
CFPB finalizes mortgage escrow rule amendments and list of “rural” or “underserved counties” and issues videos on mortgage rules by Ballard Spahr LLP on 5/21/2013 ...The CFPB has issued final “clarifying and technical” amendments to its final mortgage escrow account rule dealing with th... more
No Opposition Expected to SG’s Certiorari Petition in Noel Canning by Ballard Spahr LLP on 5/21/2013 .... In addition, the decision cast a cloud over the validity of Richard Cordray’s simultaneous recess appointment as CFPB Director. ... more
CFPB’s Consumer Advisory Board hears from payday loan consumers and other supporters by Ballard Spahr LLP on 5/21/2013 ...We have been critical of the failure of the CFPB’s white paper on payday and deposit advance loans to address the very real benefits of payday loans or the question wh... more
Business News Digest – May 2013 by Venable LLP on 5/21/2013 ... this issue: - Does the SEC Like Social Media? Understanding the Application of Regulation FD to Social Media - NIST Holds First Workshop on Executive Order Cybersecurity Framework - Jumpstart Our Business Startups (JOBS) Act - Association Health Plans and Health Care Reform: A Trap for the Unwary - EPA Finalizes... more
Solicitor General files brief opposing certiorari in Mt. Holly by Ballard Spahr LLP on 5/21/2013 ...t. We have been closely following the developments in the case because of its potential implications for the validity of the CFPB’s position that disparate impact can be used to establish ECOA liability. ... more
CFPB Takes Action Against Real Estate Kickbacks Under RESPA by Leonard, Street and Deinard - Employee Benefits & Compensation on 5/21/2013 ...The CFPB has ordered a Texas homebuilder, Paul Taylor, to surrender more than $100,000 he received in kickbacks for referring mortgag... more
CFPB and Justice Department Team Up on Enforcement by Venable LLP on 5/21/2013 ...On May 7, 2013, the Consumer Financial Protection Bureau ("CFPB" or “Bureau”) and the United States Attorney’s Office for the Southern District of New York announced... more
Capital Thinking Updates - May 16, 2013 by Patton Boggs LLP on 5/21/2013 ... This Issue: - General Legislative - Agriculture and Food - Budget and Appropriations - Cybersecurity - Defense - Education - Energy - Environment - Financial Services - Health Care - Homeland Security - Immigration - International - Tax - Transportation - Excerpt from Transportation:... more
CFPB Targets Service Provider in Real Estate Kickback Enforcement Action by Venable LLP on 5/21/2013 ...The CFPB continues to use its enforcement power on service providers, including companies involved in advertising and marketing and l... more
More on CFPB employee vote to unionize by Ballard Spahr LLP on 5/20/2013 ...As we reported last week, the National Treasury Employees Union (NTU) won an election to represent over 800 of the CFPB’s 1,200 employees. The vote was 378 in favor and 86 against.... more
Second Circuit Sides With CFPB In ILSFDA Case While Applying Auer Deference by BuckleySandler LLP on 5/20/2013 ...On May 6, the U.S. Court of Appeals for the Second Circuit agreed with the CFPB in holding that a single-story unit in a multi-story condominium is a “lot,” as that term is used in the Interst... more
Financial Services Legislative and Regulatory Update -- May 20‚ 2013 by Mintz Levin - Public Finance on 5/20/2013 ...e Senate floor later this week as the Senate is expected to consider the nomination of Richard Cordray to remain head of the CFPB. Legislative Branch Senate Reid Planning Vote on Cordray Nomination This Week Last week, a spokesperson for Senate Majority ... more
House to hold hearing on CFPB ability to repay/QM rule by Ballard Spahr LLP on 5/20/2013 ... There will be one panel consisting of two witnesses from the CFPB. The CFPB officials scheduled to appear are Peter Carroll, Assistant Director for Mortgage Markets, and Kelly Cochran, Assistant Direc... more
CFPB employees unionize by Ballard Spahr LLP on 5/20/2013 ...According to a report from Politico, CFPB employees voted last week to join the National Treasury Employees Union, a federal union that also represents employees at o... more