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GeoDataVision

Why Does the CFPB Disguise Important Mortgage Data?

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Banks play a pivotal role in the economic wellbeing of our nation and local communities. Banks do this by being “financial intermediaries” facilitating the flow of funds between savers and borrowers. This obligation is so...more

Orrick, Herrington & Sutcliffe LLP

Banking groups appeal court’s summary judgment of Section 1071 rule

On October 23, a group of banking organizations filed a notice of appeal in the U.S. District Court for the Southern District of Texas seeking to challenge a decision impacting the CFPB’s Section 1071 rule. The plaintiffs now...more

Nutter McClennen & Fish LLP

Nutter Bank Report: August 2024

CFPB Issues Filing Instructions Guide for Small Business Lending Data - The CFPB has published instructions for banks and other covered financial institutions to submit small business lending data that is required to be...more

Womble Bond Dickinson

Is Google Really the Borg?

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Now, I would never be mistaken for a Trekker, but there are some lines from the series that everyone of a certain age knows and this is one of them. As a veteran of the mobile payment wars, I quickly learned the bête noire...more

Goodwin

SEC Stays Busy With Amendments And Extensions To Various Rules, Definitions And Disclosures

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In the News. The Securities and Exchange Commission (SEC) adopted final rules to update and expand the statistical disclosures that bank and savings and loan registrants must provide to investors for the first time in 30...more

Eversheds Sutherland (US) LLP

A CFPB data access rule could be a win for open banking in the US

On July 24, 2020, the Consumer Financial Protection Bureau (CFPB) announced plans to issue an advance notice of proposed rulemaking (ANPR) regarding consumer-authorized third party access to financial records. The...more

Ballard Spahr LLP

ABA comments on CFPB’s RFI on consumer access to financial information

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The American Bankers Association has submitted a comment letter in response to the CFPB’s request for information regarding consumer access to financial information. The ABA observes that while larger institutions have...more

Ballard Spahr LLP

CFPB sending HMDA warning letters

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The CFPB announced that it is issuing warning letters to 44 mortgage lenders and mortgage brokers stating that it “has information that appears to show that your company may not be in compliance with certain provisions of the...more

Ballard Spahr LLP

ABA and CBA seek revisions to generic clearance process

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The American Bankers Association and the Consumer Bankers Association (the Associations) have sent a letter to the Office of Information and Regulatory Affairs (OIRA) (part of the Office of Management and Budget (OMB)) urging...more

Akerman LLP - Health Law Rx

“My, what beautiful eyes you have . . .” – Biometric Data and Privacy

Biometric data – obviously not in just the movies anymore. It is alive, well, and increasingly being used in our everyday society. But, on September 23, 2015, when the Office of Personnel Management revealed that fingerprint...more

Bilzin Sumberg

Banks Get Big Win in Challenge to New York Ordinance

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Many big cities in the United States responded to the fallout from the 2008 financial crisis by passing local laws which pressure banks to invest more in low-income neighborhoods. Between 2010 and 2013, cities such as New...more

Baker Donelson

Proposed Data Reporting Rule Issued

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If you are looking for some light reading these last few weeks of summer, you might want to take a look at the recently released proposed rule regarding changes to the Home Mortgage Disclosure Act (HMDA) also known as...more

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