The CFPB entered into consent orders with a Home Equity Conversion Mortgage ("HECM," also known as a "reverse mortgage") servicing contractor, its subcontractor, and two of its subcontractor's subsidiaries. The U.S....more
The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically focusing on:...more
REMOVALS- Can I be removed from my home as a result of a foreclosure proceeding during the COVID-19 emergency? No. On March 19, 2020, New Jersey Governor Philip Murphy issued Executive Order 106, which suspended...more
Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients...more
The CFPB has issued its May 2017 complaint report highlighting complaints from “older consumers,” who the CFPB defines as consumers who voluntarily reported their age as 62 or older. The CFPB reports that consumers...more