Zombie or no-injury plaintiffs seeking to represent zombie or no-injury classes are on the rise. In these suits, plaintiff was not injured, and there’s no way to prove who, if anyone, in the class was. Thomas Robins is one of...more
The CFPB has announced another enforcement action targeting alleged deceptive mortgage advertising to veterans. The Bureau claims that the defendant lender targeted veterans with ads that falsely implied an affiliation...more
On April 1st, the Bureau issued updated exam procedures on the new TILA and RESPA rules. They cover TILA RESPA Integrated Disclosures (applicable for exams after the August 2015 effective date), Higher-Priced Mortgage Loan...more
Time to dust off those federal jurisdiction hornbooks! The Consumer Financial Protection Bureau (CFPB) and Office of the Solicitor General (collectively, “the government”) submitted an amicus brief to the Supreme Court in...more
4/4/2015
/ Consumer Financial Protection Bureau (CFPB) ,
Consumer Reports ,
Fair Credit Reporting Act (FCRA) ,
Hiring & Firing ,
Petition for Writ of Certiorari ,
SCOTUS ,
Solicitor General ,
Spokeo ,
Spokeo v Robins ,
Standing ,
Websites
On Tuesday, March 17, the Consumer Financial Protection Bureau (CFPB) announced a “Request for Information Regarding Credit Card Market.” It follows the 2009 CARD Act’s requirement that the CFPB conduct a review of the...more
In This Issue:
- Beltway Report
- Bureau Report
- Mobile & Emerging Payments Report
- Mortgage & Fair Lending Report
- Operations Report
- Preemption Report
- Privacy...more
In This Issue:
- Beltway Report
- Bureau Report
- Mobile & Emerging Payments Report
- Mortgage & Fair Lending Report
- Operations Report
- Preemption Report
- Privacy...more
12/19/2014
/ Arbitration ,
Banking Sector ,
Banks ,
Consumer Financial Products ,
Dodd-Frank ,
Fair Lending ,
Federal Reserve ,
Mobile Payments ,
Mortgages ,
Payment Systems ,
Privacy Laws ,
Regulation AA ,
Structured Financial Products ,
TCPA
The District Court of the District of Columbia has issued a decisive order vacating HUD’s 2013 Fair Housing Act disparate impact rule. The rule, as we’ve discussed, has always been based on a shaky legal foundation, but is...more
The Bureau has released updated Home Mortgage Disclosure Act data, updating its massive database to include 17 million records from 2013. Anyone can now go to the website and slice and dice more than 130 million records to...more
In This Issue:
- Beltway Report
- Bureau Report
- Mobile and Emerging Payments Report
- Mortgage and Fair Lending Report
- Operations Report
- Preemption Report
- Privacy...more
9/18/2014
/ Banking Sector ,
Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Data Breach ,
Debt Collection ,
Federal Reserve ,
Lending ,
Mortgages ,
OCC ,
Privacy Policy ,
RESPA ,
Robo-Signing ,
TCPA ,
Volcker Rule
The CFPB continues to crack down on basic RESPA violations. On August 12, 2014, the CFPB announced yet another Consent Order with alleged violations of RESPA. In this case, an on-line retail mortgage company, the company’s...more
On July 24, the Consumer Financial Protection Bureau published long-awaited proposed revisions to its Home Mortgage Disclosure Act rules. The 573-page proposed rule would make sweeping changes to Regulation C, which...more
Last Thursday, the Consumer Financial Protection Bureau (CFPB) published its long-awaited new proposed revisions to its Home Mortgage Disclosure Act (HMDA) rules. The 573-page proposed rules would make sweeping changes to...more
Last week, the Consumer Financial Protection Bureau announced a $225 million settlement of two major credit card enforcement matters with Synchrony Bank, formerly known as GE Capital Retail Bank. First, the “add-on matter”...more
RESPA Section 8 enforcement is back. It was in abeyance during the transition of RESPA enforcement from HUD to the CFPB over the last few years. In fact, the last announced HUD Section 8 settlement dates from almost three...more
Yesterday, the CFPB announced a $225 million settlement of two major credit card enforcement matters with Synchrony Bank, formerly known as GE Capital Retail Bank. First, the “Add-On Matter” targets alleged deceptive...more
6/23/2014
/ Consent Order ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Department of Justice (DOJ) ,
Discrimination ,
Dodd-Frank ,
Enforcement ,
Enforcement Actions ,
GE Capital Retail Bank ,
Marketing ,
Race Discrimination ,
UDAAP ,
Unfair or Deceptive Trade Practices
In This Issue:
- Beltway Report
- Bureau Report
- Mobile Payments
- Mortgage and Fair Lending Report
- Operations Report
- Preemption Report
- Privacy Report
- Arbitration Report
- TCPA...more
6/9/2014
/ Banks ,
Cybersecurity ,
Data Protection ,
Encryption ,
Fair Lending ,
FDIC ,
FFIEC ,
Financial Regulatory Reform ,
Heartbleed ,
Mobile Payments ,
Mortgages ,
OCC ,
OIG ,
Popular ,
RESPA ,
Servicemembers Civil Relief Act (SCRA) ,
TCPA ,
Truth in Lending Act (TILA) ,
Volcker Rule
The Consumer Financial Protection Bureau filed an administrative enforcement action against PHH Corporation, alleging a nearly 15-year “mortgage insurance kickback scheme” by its mortgage origination and reinsurance...more
Editor’s Note -
Stuff didn’t happen this quarter. Lots of it. The federal government didn’t happen for two weeks in October, which caused some to celebrate and others to wring their hands and clamor for a strong,...more
Five federal regulators, with HUD noticeably absent, issued the first interagency guidance on the much-debated intersection of fair lending enforcement and the Ability-to-Repay and Qualified Mortgage Standards Rule taking...more
In This Issue:
Beltway Report; Bureau Report; Privacy Report; Mobile Payments Report; Mortgage Report; Operations Report; Preemption Report; Arbitration Report; and TCPA Report.
Excerpt from Beltway Report:...more
On June 17, 2013, the Supreme Court granted certiorari in Mount Holly v. Mt. Holly Gardens Citizens in Action, Inc., No. 11-1507, to decide whether disparate impact claims are cognizable under the Fair Housing Act (“FHA”). It...more
The U.S. Department of Housing and Urban Development (“HUD”) has finally issued its much-debated disparate impact rule. HUD argues that the rule — which it plans to apply retroactively — is simply a codification of its...more