On June 25, the Department of Housing and Urban Development (HUD) published in the Federal Register a proposal to rescind its own 2020 disparate impact rule (2020 Rule). In its place, HUD is proposing to recodify and restore...more
6/30/2021
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Discriminatory Lending Practices ,
Disparate Impact ,
Fair Housing Act (FHA) ,
Fair Lending ,
Financial Regulatory Reform ,
Financial Services Industry ,
Housing Market ,
HUD ,
Public Comment ,
Regulatory Standards
On March 9, 2021, the Consumer Financial Protection Bureau (CFPB or Bureau) issued an Interpretive Rule that the prohibitions against sex discrimination in the Equal Credit Opportunity Act (ECOA) and Regulation B encompass...more
The Consumer Financial Protection Bureau (CFPB) released its long-awaited two-volume Taskforce Report on Consumer Financial Law (the Report) as expected last week, following a yearlong effort. While advisory in nature, it is...more
1/13/2021
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Corporate Counsel ,
Credit Reports ,
E-Signatures ,
Fair Credit Reporting Act (FCRA) ,
Fair Lending ,
Federal Agency Taskforce ,
Federal Trade Commission (FTC) ,
Financial Regulatory Agencies ,
Financial Services Industry ,
FinTech
The Consumer Financial Protection Bureau (CFPB, or the Bureau) has announced major changes to its organizational structure, placing enforcement operations under the effective control of supervision. If finalized, this will be...more
On July 28, the Consumer Financial Protection Bureau (CFPB) issued a Request for Information (RFI) seeking industry input on the future of the Equal Credit Opportunity Act (ECOA) and Regulation B. While fair lending...more
8/18/2020
/ Artificial Intelligence ,
Bostock v Clayton County Georgia ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
ECOA ,
Fair Housing Act (FHA) ,
Fair Lending ,
Financial Institutions ,
Financial Services Industry ,
Limited English Proficiency (LEP) ,
Loan Officer ,
Machine Learning ,
Regulation B ,
Request For Information ,
Texas Dept of Housing v Inclusive Communities ,
UDAAP
In a settlement with a consumer advocacy group on a significant fair lending issue, the Consumer Financial Protection Bureau (CFPB) has agreed to restart long-stalled efforts to gather statutorily mandated data on lending to...more
3/10/2020
/ Consumer Financial Protection Bureau (CFPB) ,
Data Collection ,
Dodd-Frank ,
ECOA ,
Fair Lending ,
Financial Institutions ,
Financial Services Industry ,
Minority-Owned Businesses ,
Reporting Requirements ,
Rulemaking Process ,
Section 1071 ,
Settlement Agreements ,
Small Business ,
Women-Owned Businesses
As a more centrist Consumer Financial Protection Bureau (CFPB) issued a modest annual fair lending report, Democratic lawmakers continue to press a far more aggressive fair lending agenda, as reflected by a letter sent by...more
Firestorms continue to brew at the Consumer Financial Protection Bureau, as Acting Director Mick Mulvaney tackles a wholesale overhaul of the much-criticized bureau. In the most recent news, the CFPB’s new five-year plan...more
In case you missed it, here is our list of the most significant financial services rulings in 2017 from the Supreme Court of the United States and major federal appellate courts. While there were no decisions of overwhelming...more
1/10/2018
/ Bank of America v Miami ,
Commercial Bankruptcy ,
Credit Cards ,
Debt Collection ,
FACTA ,
Fair Housing Act (FHA) ,
Fair Lending ,
Federal Jurisdiction ,
FHFA ,
Financial Services Industry ,
Lightfoot v Cendant Mortgage ,
Midland Funding v Johnson ,
Overdraft Fees ,
RMBS ,
SCOTUS ,
Student Loans ,
Telemarketing