EDITOR’S NOTE -
Hope you survived all of those awkward Thanksgiving holiday conversations— amazing how divided people are on whether the court got it right in the PHH case, isn’t it? So on we go into the holiday season,...more
12/7/2016
/ Arbitration ,
Article III ,
Blockchain ,
CalOPPA ,
Consent Order ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Credit Card Surcharges ,
Cybersecurity ,
Data Breach ,
Distributed Denial of Service ,
ECOA ,
FDCPA ,
Federal Reserve ,
Federal Trade Commission (FTC) ,
FinTech ,
HMDA ,
HUD ,
LGBTQ ,
Military Lending Act ,
NYDFS ,
OCC ,
OIG ,
Prepaid Payment Products ,
Risk Management ,
Servicemembers Civil Relief Act (SCRA) ,
Spokeo v Robins ,
Truth in Lending Act (TILA)
Why another law firm newsletter? Over ten years ago, Will Stern answered that question in the first Editor’s Note of the first Financial Services Report. Some things have changed since then—we no longer print and mail paper...more
3/9/2016
/ Arbitration ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Customer Lists ,
Cybersecurity ,
Debt Collection ,
Department of Justice (DOJ) ,
EU-US Privacy Shield ,
Fair Credit Reporting Act (FCRA) ,
Fair Lending ,
FDIC ,
Federal Reserve ,
Federal Trade Commission (FTC) ,
HMDA ,
Mortgages ,
OCC ,
Payday Loans ,
Preemption ,
Securities and Exchange Commission (SEC) ,
TCPA ,
Truth in Lending Act (TILA)
On February 18, the Consumer Financial Protection Bureau (CFPB) and the Federal Financial Institutions Examination Council (FFIEC) published new “File Specifications” for data to be collected pursuant to the Home Mortgage...more
If all goes according to plan, financial institutions will report over 250 million data points related to mortgage loan applications and originations in 2018. If the mortgage market returns to the high volumes seen in 2005,...more
On October 15, 2015, the CFPB released a final rule amending Regulation C, 12 C.F.R. part 1003, which implements the Home Mortgage Disclosure Act (HMDA). Like the August 2014 proposed rule, the final rule includes changes to...more
10/21/2015
/ Consumer Financial Protection Bureau (CFPB) ,
Covered Financial Institutions ,
Covered Transactions ,
Data Collection ,
Depository Institutions ,
Disclosure Requirements ,
Final Rules ,
HMDA ,
Mortgage Lenders ,
Mortgage Servicers ,
Mortgages ,
Public Disclosure ,
Regulation C ,
Reporting Requirements
Where do we go from here? As we mark another milestone in regulatory reform with the fourth anniversary of the enactment of the Dodd-Frank Act, it strikes us that although most studies required to be undertaken by the Act...more
8/6/2015
/ Accredited Investors ,
AIF ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Bank Recovery and Resolution Directive (BRRD) ,
Capital Rules ,
CFTC ,
Compliance ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Reporting Agencies ,
Covered Banking Entity ,
Covered Funds ,
Credit Cards ,
Cross-Border Transactions ,
Debt Collection ,
Derivatives ,
Dodd-Frank ,
ECOA ,
EMIR ,
EU ,
European Securities and Markets Authority (ESMA) ,
Executive Compensation ,
Exemptions ,
Fair Credit Reporting Act (FCRA) ,
Fair Lending ,
FDCPA ,
FDIC ,
Federal Reserve ,
Fiduciary Duty ,
Final Rules ,
Financial Regulatory Reform ,
Financial Transaction Tax ,
Foreign Banks ,
FSOC ,
HMDA ,
HOEPA ,
Incentive Compensation ,
Investment Company Act of 1940 ,
IOSCO ,
Liquidity Risk Management Rule ,
MiFID II ,
Mortgage Servicing Rules ,
NRSRO ,
OCC ,
Privacy Notice Rule ,
Proprietary Trading ,
Prudential Standards ,
Remittance Transfer Rule ,
Reporting Requirements ,
Risk Management ,
Security-Based Swaps ,
Shadow Banking ,
SIFIs ,
Stand-Alone SBSDs ,
Swap Execution Facilities ,
TILA-RESPA Integrated Disclosure Rule (TRID) ,
Transparency ,
Truth in Lending Act (TILA) ,
UCITS ,
UDAAP ,
Volcker Rule
This will be a busy year at the Consumer Financial Protection Bureau (CFPB), and that certainly means it will be a busy year for financial institutions as well.
In addition to exercising its supervisory and enforcement...more
1/26/2015
/ Automotive Loans ,
Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Debt Collection ,
ECOA ,
Financial Institutions ,
HMDA ,
Integrated Disclosures ,
Mortgage Lenders ,
Mortgages ,
Prepaid Payment Products ,
Proposed Regulation ,
Regulation C ,
RESPA ,
Supervision ,
Truth in Lending Act (TILA) ,
UDAAP
On July 24, the Consumer Financial Protection Bureau published long-awaited proposed revisions to its Home Mortgage Disclosure Act rules. The 573-page proposed rule would make sweeping changes to Regulation C, which...more
Last Thursday, the Consumer Financial Protection Bureau (CFPB) published its long-awaited new proposed revisions to its Home Mortgage Disclosure Act (HMDA) rules. The 573-page proposed rules would make sweeping changes to...more
Several weeks ago, the Consumer Financial Protection Bureau (“CFPB”) issued a fair lending guidance bulletin (“Bulletin”) directed at financial institutions that make indirect automobile loans. While the Bulletin thus far has...more
6/5/2013
/ Automotive Industry ,
Compliance ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Justice (DOJ) ,
Dodd-Frank ,
ECOA ,
Enforcement ,
Fair Lending ,
HMDA ,
Nissan ,
Regulation B ,
Rulemaking Process