On April 25, the FTC filed a complaint against Lending Club in the district court for the Northern District of California. The complaint alleges that Lending Club’s online advertising “lures prospective borrowers by promising...more
4/30/2018
/ Advertising ,
Consumer Financial Products ,
Consumer Lenders ,
Corporate Counsel ,
Enforcement Actions ,
False Advertising ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
LendingClub ,
Online Marketplace Lending ,
Transaction Fees ,
Unfair or Deceptive Trade Practices
While the court opinion on the constitutionality of the CFPB’s structure was long awaited, its decision related to RESPA affords the mortgage industry much-needed clarity. ...more
2/8/2018
/ Administrative Authority ,
Captive Insurance Company ,
Constitutional Challenges ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Insurance Industry ,
Mortgages ,
PHH Corp. v CFPB ,
Popular ,
Reinsurance ,
Removal For-Cause ,
RESPA ,
Single Director ,
Statute of Limitations
On December 5, the Government Accountability Office (GAO) essentially invalidated the CFPB’s auto lending guidance by finding that it constitutes a “rule” for purposes of the Congressional Review Act (CRA)....more
On November 7, Texans approved Proposition 2 by a more than 2-1 majority. The measure amends section 50(a) of Article 16 of the Texas Constitution, making changes to the home equity loan (HEL) market in the state. Notably,...more
11/21/2017
/ Ballot Measures ,
Banking Sector ,
Consumer Financial Products ,
Financial Services Industry ,
HELOC ,
Home Equity ,
Home Equity Line of Credit ,
Homestead Exemption ,
Mortgage Lenders ,
Mortgages ,
New Legislation
Since the financial crisis, it has been difficult for consumers and developers to obtain mortgages to buy and build in the areas most hurt by the recession. The Office of the Comptroller of the Currency (OCC) has...more
9/21/2017
/ Banking Sector ,
Banks ,
Consumer Financial Products ,
Consumer Lenders ,
Distressed Properties ,
Financial Institutions ,
Loans ,
Mortgages ,
OCC ,
Policies and Procedures ,
Risk Mitigation