Newsletters

08.14.19

New York DFS Joins the Innovation Movement

Joining the innovation trend, the New York Department of Financial Services (DFS) announced the creation of a new Research and Innovation Division.


08.14.19

Third Time’s the Charm? Key Takeaways From the Updated TRID FAQs

On July 31, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a third update to its TILA-RESPA Integrated Disclosure (TRID) FAQs, providing new questions and answers regarding giving loan estimates to consumers.


08.05.19

Effectively Responding to State Regulatory Exam Criticisms: Five Takeaways

With the prospect of a downturn in the economy getting ever so closer, the time is right for executive management teams and boards of directors of financial institutions to review and reassess how they are going to prepare for and respond to regulatory examination criticisms, whether that be in the ...


07.31.19

California Legislature Advances Changes to Financing Law

A closely watched bill that would have a significant impact on the financial services industry continues to advance through the California Legislature, although a second measure that would regulate lead generators has stalled.


07.31.19

CFPB's Latest Proposed Rulemaking (TILA/HMDA) Focused on Mortgage Markets

It has been an unusually busy rule-making stretch for the consumer mortgage markets at the Consumer Financial Protection Bureau (CFPB or Bureau), marked by its issuance of an advanced notice of proposed rule-making (ANPR) relating to its proposal to allow expiration of the temporary qualified ...


07.31.19

Will GOP Credit Reporting Bill Gain Bipartisan Support?

Credit reporting companies would be subject to supervision and examination authority by the Consumer Financial Protection Bureau (CFPB) and would be barred from using Social Security numbers, under new legislation proposed by Rep. Patrick McHenry (R-N.C.).


07.31.19

Ninth Circuit Affirms FTC Act Violations Against Alleged Mortgage Relief Scammers

The Ninth Circuit refused to allow various defendants to escape liability for a variety of alleged mortgage relief scams, affirming judgments based on violations of the FTC Act and the federal Mortgage Assistance Relief Services (MARS) Rule.  


07.31.19

California Appellate Court OKs Prejudgment Interest After Charge-off

Adding prejudgment interest to a consumer’s debt from the date of charge-off—and reporting the account with that interest to multiple credit bureaus—did not violate the Rosenthal Fair Debt Collection Practice Act, a California appellate panel has ruled.


07.31.19

Regulators Reveal “Secret Sauce” on BSA/AML Exams

Shining the light on previously undisclosed examination practices, federal banking regulators and other entities issued an important joint statement addressing their risk-focused approach to BSA/AML examinations.


07.31.19

Critical Insights Into the State and Federal Consumer Finance Enforcement Agenda

Insider offers critical insights into the consumer finance enforcement agenda. Read on for details.