Fair Lending Shake-Ups: CFPB Vacates Townstone Settlement, FHFA Ends GSEs' Special Purpose Credit Programs — The Consumer Finance Podcast
Weekly Brief: BoA Sued; SCOTUS Shortlists; Fund Fights Argentina
In this episode of The Consumer Finance Podcast, Chris Willis is joined by Troutman Pepper Locke colleagues Lori Sommerfield and Lane Page to dissect two unexpected fair lending developments under the new Trump...more
January 8, 2025- The Federal Reserve released the minutes of the Federal Open Market Committee meeting that was held on December 17–18, 2024. January 8, 2025 - Federal Reserve Board Governor Christopher J. Waller gave a...more
December 23, 2024- In view of the evolving legal landscape, the Board of Governors of the Federal Reserve System announced it will soon seek public comment on significant changes to improve the transparency of its bank...more
December 19, 2024- The U.S. Department of the Treasury released a report following the issuance of its 2024 Request for Information on the Uses, Opportunities, and Risks of Artificial Intelligence in Financial Services,...more
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more
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 the new UK securitization regime, eHELOCs, and climate risk disclosures....more
June 24, 2024 - U.S. Secretary of the Treasury Janet L. Yellen gave remarks on housing policy and announcing new efforts by the Treasury Department using its existing authorities to increase the supply of housing....more
Federal Reserve Board. Extended comment period. On April 24, 2024, FRB and the Office of the Comptroller of the Currency said they would continue to accept comments on Capital One's proposed acquisition of Discover Financial...more
May 1, 2024 - The U.S. House Committee on Financial Services Subcommittee on Financial Institutions and Monetary Policy held a hearing entitled, “Merger Policies of the Federal Banking Agencies.” The Committee heard...more
November 7, 2023- The Consumer Financial Protection Bureau is proposing to use its larger participant authority to supervise nonbank companies that offer services like digital wallets and payment apps....more
On October 30, 2023, President Biden issued a wide-ranging Executive Order designed to protect Americans from potential risks associated with artificial intelligence (AI) systems. The Executive Order on the Safe, Secure, and...more
July 6, 2023- The Board of Governors of the Federal Reserve System (Federal Reserve) published a working paper entitled, "Aggregate Implications of Deviations from Modigliani-Miller: A Sufficient Statistics Approach."...more
April 13, 2023- The Federal Reserve published a paper entitled, "It's Not Who You Know—It's Who Knows You: Employee Social Capital and Firm Performance." April 13, 2023- The Conference of State Bank Supervisors...more
On January 25, the Biden administration announced new actions for enhancing tenant protections and furthering fair housing principles, which align with the administration’s Blueprint for a Renters Bill of Rights that was...more
December 21, 2022- U.S. Senate Banking Committee Ranking Member Pat Toomey (R-PA) introduced legislation that would establish the first federal regulatory framework for payment stablecoins and guide Congress towards a path...more
November 18, 2022- The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) sanctioned one Russian national, Dmitry Kudryakov, and one Belarusian national, Iryna Litviniuk, for their role in exploiting...more
August 10, 2022- The Consumer Financial Protection Bureau issued an interpretive rule laying out when digital marketing providers for financial firms must comply with federal consumer financial protection law....more
July 20, 2022- The U.S. House Committee on Financial Services held a hearing entitled, "Housing in America: Oversight of the Federal Housing Finance Agency."...more
Congress- U.S. House of Representatives- Committee on Financial Services- Hearing: Digital Assets and the Future of Finance: Examining the Benefits and Risks of a U.S. Central Bank Digital Currency-...more
REMOVALS- Can I be removed from my home as a result of a foreclosure proceeding during the COVID-19 emergency? No. On March 19, 2020, New Jersey Governor Philip Murphy issued Executive Order 106. Under this order,...more
On Thursday, the Federal Housing Finance Agency (FHFA) issued a policy statement covering its views on fair lending requirements (Fair Lending Policy Statement) under the Equal Credit Opportunity Act, the Fair Housing Act,...more
As previously reported, on June 24, 2021, the Federal Housing Finance Agency (FHFA) announced the extension of the Fannie Mae and Freddie Mac moratorium on single-family foreclosures from June 30, 2021 to July 31, 2021....more
In This Issue. In a move that gives him the opportunity to put his stamp on housing policy and the potential overhaul of Fannie Mae and Freddie Mac, President Biden replaced the Director of the Federal Housing Finance Agency...more
Since the beginning of the year and the change in Presidential administrations, a number of relief measures granted in response to the COVID-19 pandemic have been extended. Below are updates regarding relief measures in place...more
The March 2020 Coronavirus Aid, Relief, and Economic Security Act (CARES Act) contains a number of provisions that help borrowers with federally backed mortgage loans. Among these are forbearance protections for borrowers...more