Following Borders & Borders PLC’s (Borders) successful summary judgment motion last summer, the Consumer Financial Protection Bureau (CFPB or Bureau) filed a motion for reconsideration with the federal district court in...more
As anyone who is associated with the residential real estate settlement services industry can appreciate, resolution of the PHH case by the full bench of the D.C. Circuit Court of Appeals has brought much-needed clarity and...more
3/9/2018
/ Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Enforcement ,
Enforcement Actions ,
Financial Services Industry ,
PHH Corp. v CFPB ,
Regulatory Oversight ,
RESPA ,
Section 8 ,
Strategic Planning ,
Trump Administration ,
UDAAP
On September 27, 2017, the Consumer Financial Protection Bureau (CFPB) announced the settlement of its Real Estate Settlement Procedures Act (RESPA) enforcement action against Meridian Title Corp. (Meridian), an Indiana-based...more
On July 12, 2017, a federal district court in Kentucky issued a summary judgment ruling for the defense in the ongoing Borders & Borders case brought by the Consumer Financial Protection Bureau (CFPB or Bureau). In this...more
On July 10, 2017, in a surprise move, the Consumer Financial Protection Bureau (CFPB or Bureau) issued its long awaited final rule on arbitration (Final Arbitration Rule). This rule-making has been a lightning rod issue for...more
7/15/2017
/ Arbitration Agreements ,
Class Action Arbitration Waivers ,
Congressional Committees ,
Congressional Review Act ,
Consumer Credit Protection ,
Consumer Financial Contracts ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collectors ,
Debt Settlement Services ,
Final Rules ,
Mortgage Lenders ,
Mortgage Servicers ,
Obama Administration ,
Real Estate Professionals ,
Richard Cordray ,
Third-Party Service Provider ,
Trump Administration
Although the RESPA issues were addressed in the briefs filed by the parties in the PHH case, at oral argument this week the parties and the en banc D.C. Circuit focused heavily on whether the president’s authority is...more
5/31/2017
/ Administrative Agencies ,
Administrative Proceedings ,
Anti-Kickback Statute ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Director Removal ,
PHH Corp. v CFPB ,
Removal For-Cause ,
RESPA ,
Separation of Powers ,
Statute of Limitations
Businesses across the country regularly bemoan the time and expense of litigation. Even when businesses are successful in defending non-meritorious consumer claims alleging unfair or deceptive practices, false advertising,...more
5/12/2017
/ Arbitration ,
Arbitration Agreements ,
Class Action Arbitration Waivers ,
CLRA ,
Consumer Financial Protection Bureau (CFPB) ,
Federal Arbitration Act ,
Injunctive Relief ,
PHH Corp. v CFPB ,
Statutory Damages ,
Statutory Rights ,
Unconscionable Contracts ,
Unfair Competition
The Consumer Financial Protection Bureau (CFBP) on January 31, 2017, issued consent orders settling enforcement claims that a major mortgage lender violated the Real Estate Settlement Procedures Act (RESPA) in connection with...more
The legal challenge by PHH Corp. (PHH) to a June 4, 2015, decision by the director of the Consumer Financial Protection Bureau (Bureau) in connection with the Bureau’s enforcement proceeding against PHH has captivated the...more
10/19/2016
/ Administrative Appeals ,
Appeals ,
Article III ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Disgorgement ,
Enforcement Actions ,
Enforcement Guidance ,
Penalties ,
PHH Corp. v CFPB ,
Removal At-Will ,
Removal For-Cause ,
RESPA ,
Safe Harbors ,
Separation of Powers ,
Single Director ,
Standing ,
Statute of Limitations ,
UDAAP ,
Vacated
On April 12, 2016, a panel of the U.S. Court of Appeals for the D.C. Circuit heard oral argument in PHH Corporation’s (PHH) milestone legal battle with the Consumer Financial Protection Bureau (Bureau). During the argument,...more
4/19/2016
/ Consumer Financial Protection Bureau (CFPB) ,
HUD ,
Kickbacks ,
Market Rate ,
Mortgage Insurance ,
Mortgage Lenders ,
Reinsurance ,
RESPA ,
Richard Cordray ,
Section 8(a) ,
Statute of Limitations
On October 8, 2015, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a Compliance Bulletin on RESPA Compliance and Marketing Services Agreements (“MSAs”)(“Compliance Bulletin”). The Compliance Bulletin’s...more
10/20/2015
/ Affiliated-Business Arrangements ,
Consumer Financial Protection Bureau (CFPB) ,
Disclosure Requirements ,
Enforcement Actions ,
Kickbacks ,
Marketing ,
Marketing Services Agreements ,
Quid Pro Quo ,
Referral Fees ,
RESPA ,
Safe Harbors
The Director of the Federal Consumer Financial Protection Bureau (CFPB), Richard Cordray, issued a decision yesterday in the first appeal of a Bureau administrative enforcement action.
Cordray’s decision upholds in part,...more
6/5/2015
/ Administrative Appeals ,
Administrative Law Judge (ALJ) ,
Consumer Financial Protection Bureau (CFPB) ,
Disgorgement ,
Dodd-Frank ,
Enforcement Actions ,
HUD ,
Injunctive Relief ,
Kickbacks ,
Mortgage Insurance ,
Referral Fees ,
Reinsurance ,
RESPA ,
Richard Cordray ,
Securities and Exchange Commission (SEC) ,
Statute of Limitations ,
Title X