Republican senators have introduced a Congressional Review Act resolution to nullify the rule that bans banks and credit unions from including medical debt on credit reports and generally prohibits the use of medical...more
3/27/2025
/ Banks ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Reporting Agencies ,
Credit Reports ,
Enforcement Actions ,
Equal Access to Credit ,
Fair Credit Reporting Act (FCRA) ,
Financial Services Industry ,
Healthcare ,
Legislative Agendas ,
Medical Debt ,
Regulatory Reform
The CFPB soon plans to issue a final rule that would require certain supervised nonbank entities to register with it and provide information about their use of certain terms and conditions in standard-form contracts for...more
The oral argument in Cantero v. Bank of America, N.A. will be heard on Tuesday, February 27 before the US Supreme Court. The Court recently granted the unopposed motion of the Solicitor General to participate in the oral...more
2/27/2024
/ Bank of America ,
Banks ,
Cantero v Bank of America NA ,
Dodd-Frank ,
Federal v State Law Application ,
Financial Services Industry ,
Interest Rates ,
Mortgage Escrow Account ,
National Bank Act ,
OCC ,
Oral Argument ,
Preemption ,
SCOTUS ,
Solicitor General ,
Statutory Violations
On February 27, 2024, the U.S. Supreme Court will hear oral argument in Cantero v. Bank of America, N.A., a case involving the scope of preemption under the National Bank Act (NBA). The question before the Court is whether...more
1/18/2024
/ Banks ,
Cantero v Bank of America NA ,
Consumer Financial Products ,
Financial Services Industry ,
Mortgage Escrow Account ,
Mortgages ,
National Bank Act ,
OCC ,
Oral Argument ,
Preemption ,
SCOTUS ,
State Attorneys General
Continuing its (and the White House’s) “junk fees” rhetoric, the CFPB has released a new issue of Supervisory Highlights that carries the title “Junk Fees Special Edition.” The report discusses the Bureau’s examinations...more
The CFPB recently issued Compliance Bulletin 2015-03, addressing the cancellation and termination requirements for private mortgage insurance (PMI) under the Homeowners Protection Act of 1998 (HPA). We note that this Bulletin...more
8/10/2015
/ Banking Sector ,
Banks ,
Best Practices ,
Cancellation Rights ,
Compliance ,
Consumer Financial Protection Bureau (CFPB) ,
Financial Institutions ,
Homeowners Protection Act ,
Insurance Industry ,
Mortgage Insurance ,
Mortgages ,
Real Estate Market ,
Residential Real Estate Market ,
Termination
The Consumer Financial Protection Bureau recently announced a consent order with Flagstar Bank, F.S.B., alleging unfair acts and practices under the Consumer Financial Protection Act (CFPA) and violations of the CFPB's...more