Legislation introduced on September 15, 2022 by Maxine Waters (D-Cal.), chair of the House Committee on Financial Services, would significantly revise the Community Reinvestment Act (CRA), adding a number of new substantive...more
Takeaways -
Redlining enforcement will be a significant priority for the CFPB, DOJ and other agencies.
Loan servicers should expect increased scrutiny to prevent unnecessary defaults.
Credit bureau reporting will be...more
In late June 2020, the Office of the Comptroller of the Currency issued a new booklet on “Unfair or Deceptive Acts or Practices and Unfair, Deceptive, or Abusive Acts or Practices” (the UDAAP booklet), setting forth a...more
Year In Review -
Anand Raman, the head of Skadden’s Consumer Financial Services (CFS) practice, began the conference by providing a summary of notable events and trends over the past year relating to consumer financial...more
5/13/2020
/ Banks ,
Community Reinvestment Act ,
Consumer Financial Products ,
Digital Markets Strategy ,
ECOA ,
Fair Lending ,
Financial Institutions ,
Financial Services Industry ,
Forbearance Agreements ,
Foreclosure ,
Lenders ,
Loss Mitigation ,
Machine Learning ,
Moratorium ,
Mortgage Lenders ,
No-Action Letters ,
Paycheck Protection Program (PPP) ,
Professional Conferences ,
Risk Assessment ,
Risk Mitigation ,
SBA ,
UDAAP
New York state has proposed a new regulation — to go into effect January 1, 2017 — that would require banks, insurance companies and other financial services institutions regulated by the New York State Department of...more
9/15/2016
/ Banks ,
Chief Information Security Officer (CISO) ,
Comment Period ,
Covered Entities ,
Cyber Attacks ,
Cyber Crimes ,
Cybersecurity ,
Data Protection ,
Data Retention ,
Financial Institutions ,
Gramm-Leach-Blilely Act ,
Hackers ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Insurance Industry ,
NYDFS ,
Popular ,
Proposed Regulation ,
Risk Assessment ,
Risk Management
Since the Consumer Financial Protection Bureau (CFPB) opened its doors in July 2011, it has aggressively pursued enforcement actions against a wide range of consumer financial services providers. Although the Dodd-Frank Act...more