A New World for Mortgage Banking – What You Need to Know About the CFPB’s Final Mortgage Servicing Rules
The District of Columbia (DC) Office of the Attorney General (OAG) recently entered into settlements with four title companies in connection with title company joint ventures that included the companies and real estate agents...more
On February 29, 2024, the CFPB issued Consumer Financial Protection Circular 2024-01: Preferencing and steering practices by digital intermediaries for consumer financial products or services. The circular provides guidance...more
Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more
On February 7, 2023, the Consumer Financial Protection Bureau issued an advisory opinion warning operators of digital mortgage comparison platforms of specific practices the bureau may view as violating Section 8 of the Real...more
Millions of homeowners have signed up for a forbearance under the CARES Act, which gives homeowners with a federally-backed mortgage loan the right to obtain a temporary reduction or suspension of mortgage payments by way of...more
Loss Mitigation Review Under RESPA Hurst v. Caliber Home Loans, Inc., N.D.Ohio No. 5:19-cv-00315, 2021 U.S. Dist. LEXIS 51849 (Mar. 19, 2021) In this matter, the Northern District of Ohio held that a loan servicer did...more
Deceptive Trade Practices Act- Wooster Floral & Gifts, L.L.C. v. Green Thumb Floral & Garden Ctr., Inc., Slip Opinion No. 2020-Ohio-5614- In this appeal, the Supreme Court of Ohio affirmed the lower court’s decision,...more
Each month, we host a 30-minute webinar outlining the month's key announcements and takeaways from the CFPB to be considered by financial services providers. It was a particularly busy month at the CFPB, so as an extra...more
On December 7, 2020, the Consumer Financial Protection Bureau (CFPB) along with attorneys general from all 50 states and the District of Columbia and bank regulators from 53 jurisdictions covering 48 states and Puerto Rico,...more
In the News. The Securities and Exchange Commission (SEC) announced that it adopted Rule 12d1-4 under the Investment Company Act of 1940 (the 1940 Act), providing a new regulatory framework for fund-of-funds and final...more
A degree of uncertainty hangs over the Consumer Financial Protection Bureau (CFPB) following the November 2017 resignation of its first director, Richard Cordray. On his last day in office, Cordray appointed his chief of...more
Auto lenders, like many private citizens, began 2017 curious as to what change the impending Trump administration would bring. In the landscape of government enforcement, however, the consensus amongst industry participants...more
In its Supervisory Highlights released earlier this summer, the CFPB reported its examination observations in consumer reporting, debt collection, mortgage origination and servicing, fair lending, and student loan servicing....more
On February 10, 2015, the Consumer Financial Protection Bureau (“CFPB”) added another company to its litany of alleged Real Estate Settlement Procedures Act (“RESPA”) Section 8 offenders (Michigan Title, PHH Corporation, New...more