New York enacted a new law on Nov. 1, 2021, extending the requirements in the state's analog to the federal Community Reinvestment Act (CRA Requirements) to New York-licensed mortgage bankers, thereby becoming the third state...more
The Consumer Financial Protection Bureau (CFPB) recently published two final rules revising its Ability-to-Repay/Qualified Mortgage Rule (ATR/QM Rule). The principal purpose of these final rules is to avoid anticipated...more
A number of diverse stakeholders gathered at George Mason University (GMU) on Nov. 18, 2019, to participate in a program entitled "Consumer Debt in America: What Would Rate Caps and Student Loan Forgiveness Mean?" The debate,...more
12/3/2019
/ Banking Sector ,
Community Banks ,
Consumer Financial Contracts ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Debt ,
Department of Education ,
FDIC ,
Federal Grants ,
Federal Loans ,
FinTech ,
Government-Guaranteed Loans ,
Independent Community Bankers of America (ICBA) ,
Interest Rates ,
Military Lending Act ,
OCC ,
Payday Loans ,
Proposed Rules ,
Public Policy ,
Student Loans ,
Usury
New Jersey has enacted a law, P.L. 2019, c. 200 (Act), that is designed to assist potential and existing student loan borrowers in understanding and managing their student loans. Briefly, the Act: 1) authorizes the New Jersey...more
• The U.S. District Court for the District of New Jersey has denied a defendant's motion to dismiss a putative statewide class action complaint that alleged that the defendant violated Section e(10) of the federal Fair Debt...more