Mortgages, Dodd-Frank, FSOC

FSOC Issues Report on Nonbank Mortgage Servicing Highlighting Strengths, Vulnerabilities and Recommendations

Alston & Bird on 6/7/2024

What Happened? In May 2024, the Financial Stability Oversight Council (FSOC or Council) issued a Report on Nonbank Mortgage Servicing (the Report). The Report recognizes the strengths of nonbank mortgage companies (NMCs) and...more

CFPB, FTC And 50 States Show Power In Numbers With Operation Corrupt Collector

Goodwin on 10/2/2020

In the News. The Consumer Financial Protection Bureau (CFPB), along with the Federal Trade Commission (FTC) and more than 50 federal and state law enforcement partners, announced Operation Corrupt Collector, a nationwide law...more

Senate Passes Banking Bill Providing Dodd-Frank Relief

Ballard Spahr LLP on 3/16/2018

The U.S. Senate on March 14 passed S.2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act (the Act), by a vote of 67 to 31. Although the Act would not make the sweeping changes to the Dodd-Frank Act found...more

Financial Services Weekly News - April 2017 #4

Goodwin on 4/28/2017

Editor's Note - State Regulators Sue OCC Over Federal FinTech Charter. On April 26, the Conference of State Bank Supervisors (CSBS) sued the Office of the Comptroller of the Currency (OCC) in the U.S. District Court for...more

NAFCU urges regulatory relief for credit unions in letter to Secretary of the Treasury Mnuchin

Ballard Spahr LLP on 3/3/2017

On February 28, 2017, B. Dan Berger, President and Chief Executive Officer of the National Association of Federally-Insured Credit Unions (the “NAFCU“), urged regulatory relief for credit unions in a letter submitted to the...more

Implications of the 2016 Election for Banks, Systemically Important Financial Institutions and Their Investors

Dechert LLP on 10/12/2016

Campaign promises rarely turn into specific actions, but when they do, they are necessarily impacted by the dynamics of the legislative process. History suggests, however, that the policies of candidates can be a predictor of...more

D.C. Circuit Upholds Bank’s Standing to Challenge Constitutionality of CFPB

Carlton Fields on 10/7/2015

The D.C. Circuit Court of Appeals reversed a district court decision dismissing a bank’s challenge to the constitutionality of the CFPB based on lack of standing. The district court had previously concluded that compliance...more

Banking Committee Chairman Introduces the Financial Regulatory Improvement Act of 2015

King & Spalding on 5/31/2015

For more than two decades, each and every Congress has considered and adopted wide-ranging financial services legislation that has significantly altered the legal and regulatory landscape governing financial institutions in...more

Financial Stability Oversight Council’s Annual Report Highlights Problems with Non-Bank Mortgage Servicers

Goodwin on 5/16/2014

As required by Section 112(b)(2) of the Dodd-Frank Act, the Financial Stability Oversight Council released its 2014 Annual Report, which included, among other things, recommendations to address the risks posed by nonbank...more

The District Court’s ruling in State National Bank of Big Spring v. Lew

Ballard Spahr LLP on 8/7/2013

When the State National Bank of Big Spring case challenging the constitutionality of several titles of the Dodd-Frank Wall Street Reform & Consumer Protection Act (“Dodd-Frank”) was originally filed in June 2012, I...more

Mortgages › Dodd-Frank Wall Street Reform and Consumer Protection Act › Financial Stability Oversight Council

"My best business intelligence, in one easy email…"