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Reporting Requirements Consumer Lenders Financial Institutions

Ballard Spahr LLP

CFPB: Confidentiality Agreements Can’t Deter Whistleblowers from Reporting Alleged Violations

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The CFPB warned on July 24, 2024,  that confidentiality agreements that employees of a company are required to sign likely violate federal law if those agreements imply that employees could face retaliation from their...more

Troutman Pepper

Highlights from the CFPB’s Spring 2024 Semi-Annual Regulatory Agenda

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The Consumer Financial Protection Bureau (CFPB or Bureau) recently released its semi-annual regulatory agenda, outlining its planned rulemaking initiatives. The CFPB releases regulatory agendas twice a year in voluntary...more

Ballard Spahr LLP

CFPB Releases Mortgage Servicing Report on Borrower Experiences During the COVID-19 Pandemic

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The complexity of loss mitigation programs designed to assist distressed mortgage borrowers during the COVID-19 pandemic may have been too daunting for many borrowers to seek help, the CFPB said, in a report released last...more

Ballard Spahr LLP

CFPB Issues Proposed Rule Amending Mortgage Servicing Rules

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The CFPB recently issued its long-awaited proposed rule amending the mortgage servicing rules under Regulation X, with a focus on streamlining and expanding the loss mitigation procedures and foreclosure protections. The...more

Alston & Bird

CFPB Expands its Reach with Final Rule Establishing Nonbank Registry of Public Settlements, Consent Orders and Enforcement Actions

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What Happened? On June 3, 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) issued its Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders Final Rule (the Final Rule), a 486-page rule...more

Ballard Spahr LLP

CFPB Issues Final Rule Creating Nonbank Enforcement Action Registry

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The CFPB issued its final rule, titled the Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders Final Rule, on June 3, 2024. The rule will require certain nonbank entities to register certain covered...more

Venable LLP

Small Business Lenders Data Reporting Obligations Under Section 1071

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The Consumer Financial Protection Bureau ("CFPB" or "Bureau") recently published a Small Entity Compliance Guide (the "Guide") regarding Section 1071 of the Dodd-Frank Act, which amended ECOA to require that financial...more

Ballard Spahr LLP

2020 HMDA Guide Issued

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The Federal Financial Institutions Examination Council (FFIEC) recently issued the 2020 edition of the Guide to HMDA Reporting: Getting It Right! (2020 Guide)....more

Ballard Spahr LLP

New York Issues Final Mortgage Servicing Regulations

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On December 18, 2019, the New York Department of Financial Services (DFS) issued its Final Regulations detailing the business conduct rules for mortgage loan servicers. ...more

Ballard Spahr LLP

FFIEC issues new HMDA resubmission guidelines

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As expected, the Federal Financial Institution Examination Council (FFIEC) member agencies issued new data resubmission guidelines under the Home Mortgage Disclosure Act (HMDA) effective for the 2018 data collection year. ...more

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Fifth Circuit Affirms Debt Collector’s Duty to Report Disputed Debt

A recent opinion from the Fifth Circuit should serve as a reminder to debt collectors that their duties as to disputed debts are not governed solely by section 1692g. In Sayles v. Advanced Recovery Systems, Advanced Recovery...more

BakerHostetler

CFPB Finalizes New HMDA Reporting Requirements

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The Consumer Financial Protection Bureau (CFPB) finalized a rule yesterday aimed at providing the public and regulators with meaningful information concerning the lending practices of financial institutions....more

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