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Alston & Bird

CFPB and Other Federal Agencies Finally Adopt AVM Rule

Alston & Bird on

What Happened? On June 20, 2024, a group of federal regulators published a rule addressing for the use of automated valuation models (AVMs) in mortgage origination and secondary market transactions....more

Ballard Spahr LLP

Trade groups file lawsuit in Texas federal court challenging final OCC/FDIC/Federal Reserve Community Reinvestment Act rules

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Several national and Texas banking and business trade groups have filed a lawsuit in the U.S. District Court for the Northern District of Texas challenging the final regulations (Final Rules) implementing the Community...more

Ballard Spahr LLP

The new CRA: Understanding the final rule and its impact on large, intermediate, and small banks #1

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On October 24, 2023, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued a final rule amending their regulations...more

Hudson Cook, LLP

CFPB Bites of the Month - July 2023 - Freedom, Independence, and Celebration From the CFPB

Hudson Cook, LLP on

In this month's article, we share some of our top "bites" for the prior month covered during the July 2023 webinar. Bite 10: Public Inquiry Launched into Credit Card and Loan Products for Healthcare Costs - On July 7,...more

Ballard Spahr LLP

Federal banking agencies issue interagency principles for small-dollar loans

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The Federal Reserve, OCC, FDIC, and NCUA have issued “Interagency Lending Principles for Offering Responsible Small-Dollar Loans.”  The agencies state that the principles are intended “to encourage supervised banks, savings...more

Robins Kaplan LLP

Financial Daily Dose 1.30.2020 | Top Story: Facebook Pays $550 Million to Resolve Privacy Class Action Over Use of Facial...

Robins Kaplan LLP on

Facebook has agreed to pay $550 million to resolve a class-action lawsuit claiming that Zuck & Co.’s use of facial recognition technology violated Illinois’ biometric privacy law. Though the settlement is little more than “a...more

Ballard Spahr LLP

NYDFS requires regulated institutions to submit plans describing preparations for LIBOR transition by Feb. 7

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The New York Department of Financial Services has sent a letter to the institutions that it regulates requiring each such institution, by February 7, 2020, to provide to DFS a description of its “plan to address its LIBOR...more

Kramer Levin Naftalis & Frankel LLP

Federal Reserve Board Releases Semiannual Financial Stability Report

On Nov. 15, 2019, the Board of Governors of the Federal Reserve (the “Board”) released its semiannual Financial Stability Report. The report presents the Board’s current assessment of the resilience of the U.S. financial...more

Robins Kaplan LLP

Financial Daily Dose 11.19.2019 | Top Story: T-Mobile Chief John Legere to Leave Company in April

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T-Mobile chief and fan-of-magenta John Legere has announced that he’ll be stepping down in April at the end of his current contract. Legere will be succeeded by Mike Sievert, the carrier’s current president and COO....more

Ballard Spahr LLP

Federal Reserve Board Launches “Consumer Compliance Supervision Bulletin”

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On July 26, 2018, the Federal Reserve Board (“FRB“) announced the launch of the “Consumer Compliance Supervision Bulletin” (the “Bulletin“) and simultaneously published its first issue. ...more

Ballard Spahr LLP

CFPB and banking agencies begin review of bank sales practices

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According to Politico, the CFPB, OCC, Fed and FDIC have launched a review of bank sales practices, with the reviews to be conducted as special reviews rather than as part of the regular examination process....more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

Agencies Issue Proposal on Method to Adjust Threshold for Exempting Small Loans from Special Appraisal Requirements - On July 22, 2016, the Consumer Financial Protection Bureau, the Federal Reserve Board and the Office...more

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