10.09.20
In a significant action, the Consumer Financial Protection Bureau (CFPB) has abruptly rescinded a 2015 compliance bulletin concerning marketing services agreements (MSAs) and updated FAQs relating to Real Estate Settlement Procedures Act (RESPA) compliance generally.
09.15.20
On September 11, 2020, the California Department of Business Oversight (DBO) commenced a formal rulemaking to adopt regulations to implement SB 1235, a law passed in September 2018 to impose first-in-the-nation disclosure requirements on commercial financing.
09.04.20
California is poised to enact broad new legislation creating an entirely revamped financial protection regimen, including a powerful new Department of Financial Protection and Innovation (DFPI).
09.03.20
On August 20, the Consumer Financial Protection Bureau (CFPB) entered a consent order with a national bank over the sales and marketing practices for its optional overdraft service called Debit Card Advance (DCA).
09.01.20
In a potentially critical new development, the Consumer Financial Protection Bureau (CFPB or Bureau) will now impose what it characterizes as independent “peer review” on certain of its more important internal research.
08.27.20
In carrying out its statutory mandate, the CFPB has released a Request for Information (RFI) relating to the CARD Act, seeking information on two fronts.
08.13.20
More than ever before, banks are relying on third-party vendors for important services such as marketing, underwriting assistance, technology, collections, settlement services and even outsourcing of product lines.
08.10.20
A panel of judges has now made it far more likely that a recent wave of class action litigation will be resolved without huge litigation costs for lenders. In this post, we explain why.
08.04.20
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.
07.27.20
On the heels of finalizing its Madden-fix rule, the Office of the Comptroller of the Currency (OCC) on July 20, 2020, issued a proposed regulation to address bank-partnership uncertainty arising from the so-called true lender theory.