Mortgages, Dodd-Frank, Regulatory Oversight

Revising the Regulatory Definition of a Qualified Mortgage

Mayer Brown on 2/20/2020

When the federal Consumer Financial Protection Bureau (“CFPB”) last summer issued its Advance Notice of Proposed Rule Making (“ANPR”) to revise the definition of a “Qualified Mortgage” (“QM”) under the Dodd-Frank Act’s...more

CFPB publishes annual CARD Act, HOEPA, QM adjustments

Ballard Spahr LLP on 8/28/2018

The CFPB has published a final rule regarding various annual adjustments it is required to make under provisions of Regulation Z (TILA) that implement the CARD Act, HOEPA, and the ability to repay/qualified mortgage...more

House Passes Banking Bill Providing Dodd-Frank Relief

Ballard Spahr LLP on 5/23/2018

The U.S. House of Representatives on Tuesday passed S.2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act (the Act), by a vote of 258 to 159. ...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

Congressional hearing regarding proposed financial regulation scheduled for September 7

Ballard Spahr LLP on 9/6/2017

Congress is back in session and this Thursday, September 7, the House Subcommittee on Financial Institutions and Consumer Credit will hold a one-panel hearing entitled “Legislative Proposals for a More Efficient Federal...more

CFPB issues Spring 2017 rulemaking agenda

Ballard Spahr LLP on 7/21/2017

The CFPB’s Spring 2017 rulemaking agenda has been published as part of the Spring 2017 Unified Agenda of Federal Regulatory and Deregulatory Actions. The preamble indicates that the information in the agenda is current as of...more

Dodd-Frank News - Summer 2017

Burr & Forman on 6/19/2017

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 Financial CHOICE Act, now closer to passage, would significantly impact the mortgage industry

Ballard Spahr LLP on 5/15/2017

On May 4 H.R. 10, the Financial CHOICE Act (the Act) introduced by House Financial Services Committee Chairman Jeb Hensarling, R-Texas, obtained enough votes to move the bill on to the House of Representatives floor. The Act...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

Director Cordray Responds To Letter from Senators Seeking Tailored Rulemaking for Community Banks and Credit Unions

Ballard Spahr LLP on 9/6/2016

Last month, a bipartisan group of 70 senators were signatories to a letter sent to Consumer Financial Protection Bureau (CFPB) Director Richard Cordray urging the CFPB to “carefully tailor its regulations to match the unique...more

Mortgages › Dodd-Frank Wall Street Reform and Consumer Protection Act › Regulatory Oversight

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