News & Analysis as of

Brokers Consumer Financial Protection Bureau

CFPB Fines Lender and Real Estate Brokers for Improper Kickback Scheme

by BakerHostetler on

On Jan. 31, 2017, the Consumer Financial Protection Bureau (CFPB) filed consent orders against one of the largest independent residential mortgage lenders, two real estate brokers and a mortgage servicer for their roles in an...more

Financial Services Weekly News - January 2017 #2

by Goodwin on

Editor's Note - In This Issue.The SEC and FINRA released their examination priorities for 2017; the SEC’s Division of Investment Management issued an interpretative letter that would permit brokers to charge their own...more

Mortgage Lenders Receive Wake Up Call from CFPB

by Reed Smith on

Last week, the CFPB issued a warning letter to 44 mortgage lenders and brokers concerning possible violations related to their collection and reporting of mortgage data under the Home Mortgage Disclosure Act (HMDA) and...more

CFPB Hearing on Arbitration Agreements: Initial Impressions

by Davis Wright Tremaine LLP on

DWT recently attended a CFPB field hearing on arbitration agreements relating to consumer financial products or services. The CFPB conducted the hearing in conjunction with the agency’s publication of an outline of proposals...more

Montana Temporarily Reduces Licensing Renewal Fees

by Ballard Spahr LLP on

Montana has adopted a temporary rule to reduce certain licensing renewal fees by 50 percent for the period of January 1, 2016 through December 31, 2016. The Department of Administration believes that adopting the Uniform...more

The Administration Proposes Imposing a Fiduciary Standard on Retirement Advisers

Yesterday, the Obama administration called on the Department of Labor to draft rules that, in effect, would require brokers who provide retirement advice to abide by a fiduciary standard. In a speech at an event hosted by...more

Digital Currency Corner - What FinCEN’s Denial of Payment Processing Exemption for Virtual Currency-Related Businesses Means for...

Why it matters - The rapid evolution of virtual and digital currencies has spawned significant activity in several federal agencies with implications potentially for traditional entities in certain cases. In addition...more

CFPB Provides Guidance on the TILA-RESPA Integrated Disclosures Rule

by Ballard Spahr LLP on

On June 17, 2014, the CFPB staff and Federal Reserve co-hosted a webinar on the final TILA-RESPA Integrated Disclosures Rule that will be effective for applications received by creditors or mortgage brokers on or after August...more

Financial Services Legislative and Regulatory Update -- August 5, 2013

In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; and Upcoming Hearings. Except from Leading the Past Week - Congress usually tries to leave town for its month-long August...more

The CFPB Loan Originator Compensation Rule

by Baker Donelson on

Andrew Campbell of Ober|Kaler's Financial Institutions Group presented "The CFPB Loan Originator Compensation Rule," on the webinar entitled: MLO Compensation Rules: New Standards Change the Way You Do Business. The program...more

CFPB has launched investigations arising out of warning letters issued to mortgage lenders and brokers

by Ballard Spahr LLP on

We previously reported that the Bureau had sent warning letters to many mortgage originators and brokers chastising them about certain advertising practices....more

Corporate and Financial Weekly Digest - January 4, 2013

In this issue: - CII Submits Rule 10b5-1 Rulemaking Petition to the SEC - ISS Publishes Updated FAQs for its Proxy Voting Policies - CFTC Issues Final Order on Cross-Border Swaps - CFTC Issues No-Action...more

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Cybersecurity

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