The CFPB and Justice Department filed a joint complaint last week in a Texas federal district court against Colony Ridge Development, LLC and three related entities (collectively, “Colony Ridge”) in which the agencies allege...more
On April 1, 2021, the Consumer Financial Protection Bureau rescinded seven policy statements issued between March 26 through June 3, 2020 that provided temporary relief from certain regulatory obligations during the COVID-19...more
On March 31, 2021, the Consumer Financial Protection Bureau (CFPB) rescinded seven recent policy statements and one bulletin in an effort to ensure compliance with consumer protection laws and reinforce its supervisory and...more
The Interstate Land Sales Full Disclosure Act (ILSA) is a federal statute that aims to prevent land sales fraud and uninformed purchases of unimproved real property by requiring registration of subdivisions with the Consumer...more
The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as a measure to promote financial stability and protection for consumers through increased regulation of nearly every aspect of the consumer finance...more
The Consumer Financial Protection Bureau (CFPB) recently entered into a consent order against International Land Consultants, Inc. (ILC), a real estate development company, and four of its employees involved in the marketing,...more
The CFPB recently announced that it had entered into a consent order with a land-development company and several individuals involved in the company’s operations to settle charges that the respondents violated the Interstate...more
The House of Representatives of the U.S. Congress, in a surprising nonpartisan move, passed H.R. 2600 on September 26, 2013. This bill, submitted by New York Congresswoman Carolyn Maloney, exempts developers of condominiums...more
While it has only just begun its third year, the CFPB has already left its mark with a series of recent enforcement actions. Below are four examples of how the CFPB has wielded the broad scope of its mandate....more
As we reported earlier this year, the CFPB was actively investigating a company called 3D Resorts-Bluegrass, LLC for possible violations of the Interstate Land Sales Full Disclosure Act (ILSA)....more
The decision of the U.S. Court of Appeals for the Second Circuit in Berlin v. Renaissance Rental Partners, LLC issued on May 6 represents a win for the CFPB’s amicus program. At the court’s invitation, the CFPB filed a letter...more