News & Analysis as of

Dodd-Frank Wall Street Reform and Consumer Protection Act Consumer Financial Protection Bureau Loans

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and... more +
The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and includes broad reforms related to many aspects of the financial and banking industry. Notable sections of the Act include stricter regulations of the derivatives market, as well as the Volcker Rule, which restricts the trading practices of FDIC-insured institutions.    less -

CFPB identifies 2017 priorities in annual fair lending report

by Ballard Spahr LLP on

In its new annual report covering its fair lending activities during 2016, the CFPB identifies the following three areas on which it “will increase our focus” in 2017...more

CFPB/NY AG lawsuit against RD Legal Funding may signal greater scrutiny of non-loan financial products such as merchant cash...

by Ballard Spahr LLP on

The CFPB and the New York Attorney General this week filed an action against RD Legal Funding, LLC, two of its affiliates, and their principal (collectively, “RD”), alleging that a litigation settlement advance product...more

Director Cordray’s Wall Street Journal interview today

by Ballard Spahr LLP on

Here are the highlights from Richard Cordray’s interview earlier today with the Wall Street Journal. He refused to respond to the question of whether or not the memo issued on January 20 on behalf of President Trump by...more

Presidential Pulse: 10 Key Ways the Trump Administration May Impact The Way You Do Business in 2017

by Seyfarth Shaw LLP on

Today marks just over a month since Donald Trump was elected as the next President of the United States. As each cabinet appointment is announced, we get more clues to help us predict which direction the Trump...more

CFPB Poised to Expand Regulation to Small Business Lending: Expect the Unexpected

by Morrison & Foerster LLP on

Recent initiatives by the Consumer Financial Protection Bureau (“CFPB” or Bureau) to dramatically expand its regulation of small business lending present a confluence of concerns to industry participants. These initiatives...more

Fair Lending Director Ficklin Discusses Small Business Lending, LGBT issues, LEP consumers and Inclusive Communities at ABA...

by Ballard Spahr LLP on

Last Thursday, I had the pleasure of teaching a class on payments and banking products to new lawyers at the American Bar Association’s Consumer Financial Services Institute. I arrived early for the class and got to hear a...more

CFPB Takes Aim at Class Action Waivers in Arbitration

by Stinson Leonard Street on

On October 7, 2015, the Consumer Financial Protection Bureau (CFPB) announced that it is considering proposing rules that would prohibit companies from including in consumer contracts arbitration clauses that prevent...more

CFPB Takes Action Against Second Indirect Auto Finance Company in Three Days

by Stinson Leonard Street on

On October 1, 2015, the Consumer Financial Protection Bureau (CFPB) announced its second enforcement action in three days against an indirect auto finance company. In its latest action, the CFPB took aim at indirect auto...more

CFPB schedules October 7 field hearing on arbitration; Alan Kaplinsky to represent industry

by Ballard Spahr LLP on

The CFPB has announced that it will hold a field hearing about arbitration in Denver, Colorado on October 7, 2015 and has asked Alan Kaplinsky, Practice Leader of Ballard Spahr’s Consumer Financial Services Group, to...more

Deferred-Interest Loan Products Cost Issuer $700,000 in CFPB Deal

Why it matters - Allegedly deceptive enrollment tactics by third-party marketers cost the issuer of healthcare credit cards $700,000 in a settlement with the Consumer Financial Protection Bureau (CFPB). Springstone...more

CFPB publishes annual CARD Act, HOEPA and QM adjustments

by Ballard Spahr LLP on

The CFPB has published a final rule regarding various annual adjustments it is required to make under provisions of Regulation Z (TILA) that implement the CARD Act, HOEPA, and the ability to repay/qualified mortgage...more

CFPB Releases New Online Tools for Consumers Ahead of the Know Before You Owe Initiative

by Stinson Leonard Street on

In November 2013, as mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Consumer Financial Protection Bureau (“CFPB”) combined various federal mortgage disclosures that lenders are required to...more

TRID: New Mortgage Loan and Real Estate Closing Disclosure Requirements Already Causing Headaches

by Burr & Forman on

The long heralded TILA/RESPA Integrated Disclosures (TRID) are coming, and they are already causing some headaches in the real estate market. Congress provided for the new disclosures in the 2010 Dodd-Frank Wall Street Reform...more

Treasury Department RFI on Online Marketplace Lending Signals Potential Shift Towards Regulation of Small Business Loans

The Treasury Department recently issued a request for information to explore various aspects of “online marketplace lending.” The RFI seeks comment on a broad array of online financial services companies that lend not only to...more

S. 682 Offers Possible Relief for Consumers Stranded by CFPB

Recent history has shown that the regulations designed to implement the Dodd-Frank Act thresholds for High-Cost Mortgages under the Home Ownership and Equity Protections Act (HOEPA) for personal property loans are having a...more

CashCall Revisited: The CFPB’s Evolving Theory of Abusiveness

by K&L Gates LLP on

In 2013, the CFPB filed a complaint against CashCall, Inc. and others, alleging that their conduct in collecting on payday loans that allegedly violated certain states’ usury and/or licensing laws constituted unfair,...more

Senate Interest in Small Business Loan Data Rulemaking May Significantly Impact Financial Institutions

by McGuireWoods LLP on

On July 10, 2015, 19 United States senators, including Sen. Elizabeth Warren, implored the Consumer Financial Protection Bureau (CFPB) to exercise its rulemaking authority related to publicly available small business loan...more

Treasury Department Seeks Information on Online Marketplace Lending

by Ballard Spahr LLP on

The U.S. Department of the Treasury has issued a request for information (RFI) regarding online marketplace lending. The RFI reflects the Treasury Department’s recognition that online marketplace lending “is a rapidly...more

CFPB Proposes Federal Oversight of Auto Financing Companies

by Baker Donelson on

On September 17, 2014, noting the auto lending discrimination it has uncovered at banks, the Consumer Financial Protection Bureau (Bureau or CFPB) announced its plan to further extend its reach under the Dodd-Frank Act by...more

Banking & Financial Services E-Note - July 2014

by Burr & Forman on

In This Issue: - New Rule Will Require Banks to Provision for Bad Loans Earlier - Four Years After Dodd-Frank, Law Still Unfinished - Senate Panel to Review Borrowing of 'Too Big to Fail' Banks - Community...more

Rulemaking Dictating Loan Terms Is Coalescing Around the CFPB’s Qualified Mortgage Standard, but the Future of Loans Outside of...

by K&L Gates LLP on

Since the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”) government regulation has been pushing the mortgage banking industry toward homogenized residential mortgage loans...more

Banking & Financial Services E - Note - May 30, 2013

by Burr & Forman on

In This Issue: - New Suits Filed as Credit Card Swipe Fee Settlement Deadline Looms - Sec. Lew Tells Senate Committee of Plans to Accelerate Dodd-Frank - New Mortgage Rule to Block Access to Credit, Witnesses...more

More Paper? CFPB Revamps Disclosure and Delivery Requirements for Valuations under ECOA

by K&L Gates LLP on

Come January 2014, creditors will be required to equip borrowers with more information on how the value of the borrower’s home is determined, even if the creditor doesn’t use that information in making its lending decision....more

Loan Originator Compensation: New Rules

by Jonathan Foxx on

On January 24, 2013, as the last of the Final Rules of the Consumer Financial Protection Bureau (CFPB) rolled out, I offered an outline of all of them, entitled "CFPB's Gang of Seven (Final Rules)".* I listed them in...more

Financial Services Legislative And Regulatory Update -- March 25‚ 2013

In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; and Upcoming Hearings. Excerpt from Leading the Past Week - Members rushed out of town at the end of last week for a two-week...more

31 Results
|
View per page
Page: of 2
Cybersecurity

"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 using*

Already signed up? Log in here

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*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.
Feedback? Tell us what you think of the new jdsupra.com!