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CFPB Seeks Permanent Enforcement – Will this Further its Repeat Offender Agenda?

On May 31, 2024, the Consumer Financial Protection Bureau (CFPB) sued student loan servicer Pennsylvania Higher Education Assistance Agency (PHEAA) for illegally collecting on student loans that have been discharged in...more

CFPB’s War on Mortgage Fees Continues

What Happened? Immediately following President Biden’s State of the Union Address announcing plans to lower homebuyer and refinancing costs, the CFPB issued a blog post seeking public input on how mortgage closing costs...more

CFPB Touts 2023 Greatest Hits and Casts a Line for Enforcement Hires

What Happened? Earlier this week, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) released a blog post touting its 2023 successes in safeguarding “household financial stability” through the levying of fines and...more

Correspondent Lending on the Rise: Increasing Gains Point to Increasing Risk

A&B Abstract: According to a recent edition of Inside Mortgage Finance, correspondent lending is the only lending channel that posted gains in Q3 2023. While it is always nice to see gains, it should also serve as a reminder...more

Structured Finance Spectrum – February 2023

Welcome to the latest edition of the Spectrum, covering hot-topic issues in the structured finance markets in the U.S. and UK. This edition features a new year for a new UCC Article 12, a farewell to LIBOR, and an appraisal...more

District Court Dismisses CFPB’s Redlining Case Against Townstone Financial

A&B ABstract: On Friday, in the CFPB v. Townstone Financial fair lending case, the U.S. District Court for the Northern District of Illinois dismissed with prejudice the complaint filed by the Consumer Financial Protection...more

CFPB Proposes Nonbank Registry to Focus on Compliance “Recidivism”

A&B ABstract: On December 12, 2022, the Consumer Financial Protection Bureau (CFPB) announced a proposed rule to require certain non-banks to register with the agency when they become subject to a public written order or...more

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