In a 7-2 decision that was widely expected after oral argument, the US Supreme Court issued its decision in Consumer Financial Protection Bureau v. Community Financial Services Association of America, Ltd. on May 16, holding...more
On July 31, the US District Court for the Southern District of Texas issued an order granting in part and denying in part the motion for preliminary injunction filed by the Texas Bankers Association, Rio Bank (a Texas...more
On May 15, the Mortgage Bankers Association, the National Association of Home Builders, and the National Association of Realtors filed a joint amici curiae (friend of the court) brief in connection with the case challenging...more
Within a little less than four weeks after the publication on March 30, by the Consumer Financial Protection Bureau (CFPB) of its nearly 900-page final rule related to small business data collection (the Final Rule) mandated...more
On March 11, the Consumer Financial Protection Bureau (CFPB) announced the rescission of its January 24, 2020 policy statement entitled, "Statement of Policy Regarding Prohibition on Abusive Acts or Practices" (Prior Policy)....more
Key Points -
- The Consumer Financial Protection Bureau released the first part of final rules on permissible communications in connection with the collection of consumer debt, called the Final Rule.
- This advisory...more
On January 10, the Consumer Financial Protection Bureau (CFPB) released a final rule (ATR Rule) to implement provisions related to the ability to repay (ATR) standards and the definition of a “qualified mortgage” (QM) as...more