• 08.14.19

    California DBO Proposes Commercial Finance Disclosure Regulations and Seeks Further Comments

    The California Department of Business Oversight (DBO) has issued its long-awaited draft regulations to implement SB 1235, a 2018 law requiring consumer-like disclosures for commercial financing in California.  The DBO has requested public comment on these draft regulations, giving interested ...

  • 08.14.19

    CFPB News: MOUs, Automated Underwriting, Settlements, Payday Rule Delay

    In another busy stretch for the Consumer Financial Protection Bureau (CFPB or Bureau), lawmakers reached out to the Bureau and the Department of Education (DOE) regarding protections for student borrowers, while the CFPB and the New York attorney general reached a $60 million deal with a group of ...

  • 08.14.19

    Payment Processor Faces Joint Federal, State Action

    The Federal Trade Commission (FTC) and the Ohio attorney general have sued a payment processor arising from activities that allegedly enabled its merchant customers to defraud consumers.

  • 08.14.19

    New York DFS Joins the Innovation Movement

    Joining the innovation trend, the New York Department of Financial Services (DFS) announced the creation of a new Research and Innovation Division.

  • 08.14.19

    Third Time’s the Charm? Key Takeaways From the Updated TRID FAQs

    On July 31, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a third update to its TILA-RESPA Integrated Disclosure (TRID) FAQs, providing new questions and answers regarding giving loan estimates to consumers.

  • 08.05.19

    Effectively Responding to State Regulatory Exam Criticisms: Five Takeaways

    With the prospect of a downturn in the economy getting ever so closer, the time is right for executive management teams and boards of directors of financial institutions to review and reassess how they are going to prepare for and respond to regulatory examination criticisms, whether that be in the ...

  • 07.31.19

    California Legislature Advances Changes to Financing Law

    A closely watched bill that would have a significant impact on the financial services industry continues to advance through the California Legislature, although a second measure that would regulate lead generators has stalled.

  • 07.31.19

    CFPB's Latest Proposed Rulemaking (TILA/HMDA) Focused on Mortgage Markets

    It has been an unusually busy rule-making stretch for the consumer mortgage markets at the Consumer Financial Protection Bureau (CFPB or Bureau), marked by its issuance of an advanced notice of proposed rule-making (ANPR) relating to its proposal to allow expiration of the temporary qualified ...

  • 07.31.19

    Will GOP Credit Reporting Bill Gain Bipartisan Support?

    Credit reporting companies would be subject to supervision and examination authority by the Consumer Financial Protection Bureau (CFPB) and would be barred from using Social Security numbers, under new legislation proposed by Rep. Patrick McHenry (R-N.C.).

  • 07.31.19

    Ninth Circuit Affirms FTC Act Violations Against Alleged Mortgage Relief Scammers

    The Ninth Circuit refused to allow various defendants to escape liability for a variety of alleged mortgage relief scams, affirming judgments based on violations of the FTC Act and the federal Mortgage Assistance Relief Services (MARS) Rule.