News & Analysis as of August 16, 2025

Financial Services Industry

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The term "mortgage" typically refers to a mortgage loan. A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +

Shifting Priorities: Bureau Memorandum Provides Insight into New Era for CFPB

Goodwin on 5/5/2025

The first 100 days of the Trump administration have included dramatic changes at the Consumer Financial Protection Bureau. The agency has retreated from many of its enforcement litigations, initiated reductions in force...more

Nutter Bank Report: February 2024

Nutter McClennen & Fish LLP on 2/29/2024

The U.S. Department of Justice (DOJ) and state authorities have agreed to a consent order with a large national bank to resolve allegations that the bank engaged in a pattern or practice of lending discrimination by affecting...more

Bills To Curtail Trigger Leads Introduced in Congress

Ballard Spahr LLP on 12/20/2023

Bills have been introduced in the U.S. House of Representatives (H.R. 4198) and the U.S. Senate (S. 3502) to amend the Fair Credit Reporting Act (FCRA) to curtail the practice of trigger leads with mortgage loans....more

Deposit Insurance Limits and Trusts and Mortgage Servicing

Cadwalader, Wickersham & Taft LLP on 6/2/2022

The FDIC released a “Small Entity Compliance Guide” that provides a summary of its final rule allowing for the “simplification of deposit insurance,” which takes effect on April 1, 2024....more

OCC Finalizes “True Lender” Rule

Goodwin on 10/29/2020

In the News. The Office of the Comptroller of the Currency (OCC) finalized its “true lender” rule, which establishes that a national bank or federal savings association (bank) is the “true lender” of a loan if, as of the...more

CFPB, FTC And 50 States Show Power In Numbers With Operation Corrupt Collector

Goodwin on 10/2/2020

In the News. The Consumer Financial Protection Bureau (CFPB), along with the Federal Trade Commission (FTC) and more than 50 federal and state law enforcement partners, announced Operation Corrupt Collector, a nationwide law...more

NYDFS requires regulated institutions to submit plans describing preparations for LIBOR transition by Feb. 7

Ballard Spahr LLP on 1/9/2020

The New York Department of Financial Services has sent a letter to the institutions that it regulates requiring each such institution, by February 7, 2020, to provide to DFS a description of its “plan to address its LIBOR...more

HUD and DOJ Signal Easing of FCA Enforcement in FHA Residential Mortgage Lending Through Interagency Memorandum

Hogan Lovells on 11/6/2019

On October 28, 2019 the U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Justice (DOJ) released a Memorandum of Understanding (MOU) announcing their joint approach to False Claims Act (FCA)...more

Treasury Recommends Sweeping Industry Changes for Mortgage Lenders and Servicers

Ballard Spahr LLP on 8/17/2018

As covered earlier this week in a legal alert, the U.S. Department of the Treasury issued a report recommending sweeping regulatory changes for consumer financial services. Within the report, the Treasury also recommended a...more

CFPB Addresses Partial HMDA Exemption for Certain Depository Lenders

Ballard Spahr LLP on 7/6/2018

The Consumer Financial Protection Bureau (CFPB) recently issued a statement regarding the partial exemption from Home Mortgage Disclosure Act (HMDA) reporting requirements for certain lower mortgage volume depository...more

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