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New Rules Financial Regulatory Reform Consumer Financial Products

Ballard Spahr LLP

Federal District Court in Texas which recently validated CFPB’s small business data collection rule might entertain “new” funding...

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On August 26, 2024, Chief Judge Randy Crane in the E.D. Texas granted summary judgment to the CFPB, denied summary judgment to the trade groups and upheld the validity of the CFPB’s small business data collection rule....more

Ballard Spahr LLP

Federal Agencies Issue Final Automated Valuation Model Quality Control Rule

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Federal banking regulators recently began adopting a final rule that requires, among other things, supervised mortgage originators and secondary market issuers to ensure that automated valuation models they use follow quality...more

Ballard Spahr LLP

CFPB issues new rule for recognizing open banking standards

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The CFPB has launched the process for independent standard-setting bodies to receive formal recognition, as part of its efforts to shift towards open banking in the United States....more

GeoDataVision

The New CRA Rule: Another Surprise – for Banks and maybe for the Regulators too (part of a series taking a critical look at the...

GeoDataVision on

The new CRA Rule has a number of surprises for banks and maybe a surprise or two for the regulators themselves. One of those surprises involves the transition rules in §__.51 as they pertain to the April 1, 2024, the...more

Cadwalader, Wickersham & Taft LLP

The UK Introduces Repayment Concessions for Residential Mortgages

In June of this year, the UK’s Financial Conduct Authority (“FCA”) introduced rules to allow mortgage lenders to more easily vary contracts in order to allow borrowers to make reduced capital payments or switch to an...more

Ballard Spahr LLP

New York City Department of Consumer Affairs issues formal guidance on its new limited English proficiency debt collection rules

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As discussed in our June 12th post, the New York City Department of Consumer Affairs (“DCA”) issued new debt collection rules related to limited English proficiency servicing. These rules took effect June 27, 2020, but due to...more

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