News & Analysis as of

Enforcement Consumer Financial Protection Bureau (CFPB) Mortgages

Sheppard Mullin Richter & Hampton LLP

CFPB Cracks Down on Mortgage Servicers, Alleging Harmful Practices Against Older Homeowners

On June 18, the CFPB settled enforcement actions against two mortgage servicers who serviced reverse mortgages on behalf of HUD, for their systemic failure to respond to consumer requests for assistance, resulting in...more

Davis Wright Tremaine LLP

Banking and Consumer Regulatory Digest - February 2024 - 3

Editor's Note: The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically...more

Hudson Cook, LLP

CFPB Bites of the Month - 2023 Annual Review - Debt Collection

Hudson Cook, LLP on

In this article, we share a timeline of our monthly "bites" for 2023 applicable to debt collection. If debt collection in 2023 had a theme it would be medical debt....more

Foley & Lardner LLP

Pay-to-Play in the CFPB’s Cross-Hairs: Digital Mortgage Comparison-Shopping Platforms under RESPA Scrutiny

Foley & Lardner LLP on

The Consumer Financial Protection Bureau (CFPB) ended a more than decade-long hiatus since the last formal guidance regarding Section 8 of the Real Estate Settlement Procedures Act (RESPA) on February 7, 2023, by issuing its...more

ArentFox Schiff

Damages Under Dodd-Frank: Federal Court Awards CFPB $59 Million in Unprecedented Penalties and Restitution Analysis

ArentFox Schiff on

So much to say, so little time. Historically groundbreaking, a federal court in Madison, Wisconsin engaged in the most robust, methodical damages analysis under the Consumer Financial Protection Act, found in Title X of the...more

Nutter McClennen & Fish LLP

Nutter Bank Report, January 2019

New Data Breach Law Requires Free Credit Monitoring for Massachusetts Consumers - Recent amendments to the Massachusetts data security breach law will require any person – including, in relevant part, any bank or any bank...more

Morrison & Foerster LLP

CFPB Bulletin on Marketing Services Agreements: Not Per Se Unlawful, But . . . .

Morrison & Foerster LLP on

The Consumer Financial Protection Bureau (CFPB) on October 8, 2015 issued Compliance Bulletin 2015-05, RESPA Compliance and Marketing Services Agreements (Bulletin). The Bulletin represents another significant signpost along...more

Morgan Lewis

CFPB Issues First Appellate Ruling

Morgan Lewis on

In affirming its own decision, the Consumer Financial Protection Bureau (CFPB) leaves few protections for targets in its administrative enforcement proceedings. If you are subject to a CFPB administrative proceeding, or...more

MoFo Reenforcement

CFPB Enforcement Actions Take on LO Comp and Fair Lending

MoFo Reenforcement on

Over the past couple of weeks, the CFPB has kept itself busy in the mortgage origination enforcement arena. In one complaint, the CFPB ordered a residential mortgage lender and its CEO to each pay a $1 million civil penalty...more

Baker Donelson

CFPB Takes Action for Deceptive Advertisement of "Free Checking"

Baker Donelson on

Although the CFPB has focused its rulemaking and enforcement actions on mortgage servicing and lending, it recently entered into a consent order with M&T Bank regarding the deceptive advertising of free checking. The...more

Burr & Forman

Dodd-Frank News: October 2014: Dodd-Frank Wall Street Reform and Consumer Protection Act Update

Burr & Forman on

In This Issue: - RECENT CASES .. Mortgage Servicing Rules .. Antiretaliation Provision ..Credit Default Swaps Antitrust Litigation ..CFPB Involvement in Litigation - IN THE...more

Bilzin Sumberg

In The Cross-Hairs? Protecting Your Company Against Consumer Financial Protection Bureau Investigations and Investors' Mortgage...

Bilzin Sumberg on

Watch an in-depth webinar presented by Litigation Partner Philip R. Stein, about the Consumer Financial Protection Bureau's attempts to expand its jurisdiction and authority over consumer finance companies and financial...more

Manatt, Phelps & Phillips, LLP

Feds, States Sweep Country for Mortgage Relief Scams

In an enforcement sweep dubbed “Operation Mis-Modification,” the Federal Trade Commission (FTC), Consumer Financial Protection Bureau (CFPB), and 15 state Attorneys General have targeted “foreclosure relief scammers that have...more

Baker Donelson

Cordray's House Testimony Signals Areas of CFPB Focus

Baker Donelson on

On June 18, 2014, CFPB Director Richard Cordray appeared before the House Financial Services Committee to testify about his agency's fifth Semi-Annual Report. As in past hearings, Cordray and House Republicans clashed over...more

Goodwin

CFPB Releases Fair Lending Report

Goodwin on

The CFPB released its Fair Lending Report to Congress, which provides an update on the CFPB’s efforts with respect to its fair lending mandate. Section 1013 of the Dodd-Frank Act requires the CFPB’s Office of Fair Lending and...more

Carlton Fields

A Review And Analysis Of The CFPB’s Focus And Enforcement Activity Related To Mortgage Origination And Servicing

Carlton Fields on

Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“the Act”) created and authorized the Consumer Financial Protection Bureau (“CFPB” or “the Bureau”) to implement, examine for compliance with,...more

Baker Donelson

Thoughts on the Remarks of CFPB Deputy Director Antonakes at the MBA Servicing Conference

Baker Donelson on

As I sat in an Orlando convention center ballroom last week, I noted that the sense of anticipation for the remarks of CFPB Deputy Director Steven Antonakes seemed to range from "not that interested" to "just trying to get a...more

Morrison & Foerster LLP

The CFPB Targets Mortgage Reinsurance Yet Again

The Consumer Financial Protection Bureau filed an administrative enforcement action against PHH Corporation, alleging a nearly 15-year “mortgage insurance kickback scheme” by its mortgage origination and reinsurance...more

Skadden, Arps, Slate, Meagher & Flom LLP

"Consumer Financial Protection Bureau Focuses on Fair Lending"

Having enacted a number of mortgage-related rules on the eve of statutory deadlines, the Consumer Financial Protection Bureau (CFPB), which now has a confirmed director, has shifted its focus to fair lending enforcement,...more

Ballard Spahr LLP

CFPB Issues Aggressive Rulemaking Agenda

Ballard Spahr LLP on

The Consumer Financial Protection Bureau’s recently released fall 2013 rulemaking agenda portends aggressive rulemaking by the Bureau in 2014. With most of the rulemaking mandated by the Dodd-Frank Act now completed,...more

Ballard Spahr LLP

Director Cordray comments on timing of further mortgage rule changes and enforcement approach

Ballard Spahr LLP on

While Director Cordray mostly recycled comments he has previously made about the CFPB’s mortgage rules in his remarks today to the American Mortgage Conference, he did offer some newsworthy information....more

Ballard Spahr LLP

CFPB rules: Enforcement may be heating up as the industry awaits formal guidance

Ballard Spahr LLP on

The American Association of Residential Mortgage Regulators (AARMR), the trade association for regulators responsible for supervising non-depository mortgage companies, held its annual conference last week in Denver....more

K&L Gates LLP

CFPB Fair Lending Updates – Expectations for Enforcement and Regulation in 2013

K&L Gates LLP on

Signaling that 2013 will be another eventful year in the fair lending world, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) issued two items this month that reveal an ambitious agenda for fair lending...more

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