Loans, CFPB, Lenders | JD Supra Law News

New Risks for Indirect Lenders

by Michael Lueder | Foley & Lardner LLP on 4/23/2013

Last month the Consumer Financial Protection Bureau announced that it will start holding banks accountable for the discriminatory actions of indirect auto lenders. The issue arises when a consumer goes to purchase a car and...more

American Bankers Association Real Estate Lending Conference - Qualified Mortgages: A Sea Change For Mortgage Lenders

by Robert H. Ledig, Thomas P. Vartanian | Dechert LLP on 4/16/2013

In This Presentation: - The Qualified Mortgage (QM) Rule - Small Creditor QM Proposal - The Ability-to-Repay (ATR) Rule: What It Says and What It Means - Liability for Failure to Comply with the ATR and QM...more

You Need to Pay Attention to the Consumer Financial Protection Bureau

by Rich Benenson, Eric Berg, Jeffrey Rugg, Jonathan Sandler | Brownstein Hyatt Farber Schreck on 3/21/2013

For those companies who pay attention to the always evolving regulatory environment as we do at Brownstein Hyatt Farber Schreck, you have likely heard the debate regarding the validity of rules promulgated by organizations...more

A bad month for payday lenders

by Jeremy T. Rosenblum | Ballard Spahr LLP on 3/1/2013

February was not a good month for payday lenders. As previously reported, on February 20, CFPB Director Cordray expressed pointed concerns about payday and short-term loan “debt traps” in a speech to the Consumer Advisory...more

Third Circuit TILA rescission decision adopts CFPB position

by Martin Bryce, Jr. | Ballard Spahr LLP on 2/8/2013

The Third Circuit has now joined the Fourth Circuit in ruling that a lawsuit seeking rescission filed more than there years after loan consummation is timely as long as the borrower sent a written notice of rescission within...more

Financial Services Bulletin: Action At The CFPB

by Perkins Coie on 1/18/2013

On Thursday, January 10, 2013, the Consumer Financial Protection Bureau ("CFPB") issued a final rule amending Regulation Z pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act"). ...more

CFPB Issues Final Ability-to-Repay and Qualified Mortgage Rule

by Michele Coffey, Kathleen Collins, Ivan Harris, Kenneth Kliebard, Christian Mixter, Tonya Oliver | Morgan Lewis on 1/17/2013

Rule lists criteria that lenders must consider in determining a prospective borrower has the ability to repay a loan and defines Dodd-Frank's concept of a "qualified mortgage." On January 10, the Consumer Financial...more

U.S. Consumer Financial Protection Bureau Issues Rules on Qualified Mortgages and Ability to Repay

by Linda Ann Bartosch, Patrick D. Dolan, Robert H. Ledig, Ralph R. Mazzeo, Laurie Nelson, Thomas P. Vartanian | Dechert LLP on 1/16/2013

Congress in the Dodd-Frank Act responded to concerns about the quality of mortgage loans by establishing incentives for lenders to seek to ensure that borrowers had the ability to repay mortgage loans made to them. In...more

The Consumer Financial Protection Bureau Finalizes the Ability-To-Repay and Qualified Mortgage Rule

by Jennifer Dioguardi | Snell & Wilmer L.L.P. on 1/15/2013

The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) amended the Truth in Lending Act (TILA) to provide for an expanded ability-to-repay requirement for the mortgage lending industry. The Consumer...more

CFPB Finalizes Ability-to-Repay Rule for Mortgage Lenders, Defines “Qualified Mortgage” and Proposes Exemption to Ability-to-Repay...

by Patton Boggs LLP on 1/15/2013

On Thursday, January 10, 2013, the Consumer Financial Protection Bureau (CFPB) released its final rule on the ability-to-repay requirements, including the definition of “Qualified Mortgage,” that was mandated by the...more

Qualified Mortgage Rule

by Schecter Law on 1/12/2013

On January 10, 2013, the Consumer Financial Protection Bureau released the Qualified Mortgage (“QM”) rule. The QM rule provides standards a lender must use to minimize risky loans and help a borrower avoid an eventual...more

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Loans › Consumer Financial Protection Bureau › Lenders