Newsletters

02.19.20

GAO Asked to Study Alternative Data Credit Decisions

In a new letter last month, a group of Democratic lawmakers asked the Government Accountability Office (GAO) to take a closer look at the use of alternative data for credit decisions, particularly in the context of mortgage lending.


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

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.  


07.03.19

Fed Provides Update on CRA Review

How is the Federal Reserve Board of Governors progressing with its critically important review of the Community Reinvestment Act (CRA)?


03.27.19

Consumer Finance: Kraninger Testifies, CFPB Reports, DOJ Enforces SCRA

Making headlines in consumer finance news, Consumer Financial Protection Bureau (CFPB or Bureau) Director Kathy Kraninger paid Congress another visit, while the CFPB published its latest Supervisory Highlights, a first-time homebuying servicemembers report and an advanced notice of proposed ...


03.20.19

Supremes Resolve Circuit Split Under FDCPA Impacting Law Firms

In a key decision resolving a split among appeals courts, the Supreme Court unanimously ruled today, in Obduskey v. McCarthy & Holthus LLP, that law firms that carry out nonjudicial foreclosures are not considered debt collectors under the Fair Debt Collection Practices Act.


03.13.19

RESPA New Private Actions? Massachusetts OKs NOE Error Suit

Just a limited set of Real Estate Settlement Procedures Act (RESPA) claims allow for private rights of action, but the list might be growing larger.


09.13.18

Marking the Decade Since Lehman’s Collapse

At this ten-year anniversary of the Sept. 15, 2008, failure of investment banking giant Lehman Brothers, it’s time to take stock.


09.13.18

Federal Reserve Hits Bank With $8.6M Fine

Offering a cautionary tale to banks, the Board of Governors of the Federal Reserve fined a national bank $8.6 million for the improper execution of residential mortgage-related documents while a 2011 Consent Order was in place.


04.27.18

Mortgage Lenders, Servicers Fall Under California’s Rosenthal Act

California’s Rosenthal Fair Debt Collection Practices Act encompasses mortgage lenders and servicers, a state appellate panel ruled, weighing in on an issue that has split the federal district courts in the state.