On January 10, 2025, the Consumer Financial Protection Bureau (CFPB) revived its policy statements on No-Action Letters (NALs) and Compliance Assistance Sandbox (CAS) Approvals. These unexpected changes come just days before...more
1/17/2025
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
ECOA ,
EFTA ,
Enforcement Actions ,
Final Rules ,
Financial Regulatory Reform ,
Financial Services Industry ,
No-Action Letters ,
Policy Statement ,
Regulatory Agenda ,
Regulatory Reform ,
Regulatory Requirements ,
Sandbox ,
Truth in Lending Act (TILA)
On March 8, 2024, the CFPB issued a blog post signaling a new front in its focus on “junk fees”—mortgage closing costs. Notably, the CFPB suggests that title insurance, credit report and appraisal, origination, and other...more
3/19/2024
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Closing Costs ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Fees ,
Financial Services Industry ,
Mortgage Lenders ,
Mortgages ,
RESPA ,
Title Insurance ,
Truth in Lending Act (TILA)
On February 29, 2024, the CFPB issued Consumer Financial Protection Circular 2024-01: Preferencing and steering practices by digital intermediaries for consumer financial products or services. The circular provides guidance...more
In January, New York Governor Kathy Hochul introduced a budget bill that proposed the headline-grabbing Buy Now Pay Later licensing regime. Less attention has been given to another proposed provision: adding a prohibition on...more