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 +

House Financial Services Committee approves ‘trigger leads’ bill

Ballard Spahr LLP on 6/13/2025

The House Financial Services Committee has approved a bill that would restrict the use of “trigger leads” in the mortgage industry. ...more

The State Consumer Protection Beat: State AGs Kick Off 2025 with a String of Actions and Support for the CFPB

Hudson Cook, LLP on 4/4/2025

The first two months of 2025 were filled with numerous consumer protection actions by state AGs against vehicle dealers and players in the mortgage space, among others. ...more

Arizona AG Pursues Fraudulent Real Estate Scheme Targeting Alleged Fraudsters, Title Companies, Attorneys, and Law Firms

Troutman Pepper Locke on 3/27/2025

On March 7, Arizona Attorney General (AG) Kristin Mayes filed a novel lawsuit alleging consumer fraud and racketeering against numerous entities, individuals, and even law firms and title companies involved in the residential...more

Massachusetts AG sues Hometap, saying company offers illegal home equity investments that really are reverse mortgages

Ballard Spahr LLP on 2/25/2025

Alleging that a Boston company “pervasively and systematically violated the state’s consumer protection laws, including mortgage and foreclosure prevention laws, putting financially vulnerable homeowners at high risk of...more

Massachusetts AG settles with loan servicer over debt collection violations

Orrick, Herrington & Sutcliffe LLP on 10/15/2024

Recently, the Massachusetts AG settled with a loan servicer (respondent) to resolve allegations that respondent violated Massachusetts foreclosure-prevention law, debt collection regulations, and federal mortgage servicing...more

SCOTUS to hear oral argument on Feb. 27 in National Bank Act preemption case

Ballard Spahr LLP on 1/18/2024

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

State AGs and State Money Transmission Regulators Settle With Payment Processor Over Unauthorized Mortgage Withdrawals

Troutman Pepper Locke on 10/20/2023

On October 17, 52 state and territorial attorneys general, in addition to state money transmission regulators, entered into settlements amounting to more than $20 million with ACI Worldwide (ACI), to resolve claims involving...more

California AG announces settlement with mortgage servicer

Orrick, Herrington & Sutcliffe LLP on 9/11/2023

On September 1, California Attorney General (AG) Rob Bonta announced a settlement with a mortgage servicer for its alleged failure to properly process and grant mortgage deferment requests from California military reservists...more

Financial Services Report - Spring 2021

Morrison & Foerster LLP on 3/2/2021

Can you say 0 to 60? Not cars, but pretty much everything to do with financial services. A new year, a new administration, and new challenges for providers. Prior CFPB Director Kraninger is long gone. Acting Director Uejio...more

Pennsylvania Attorney General solicits redlining complaints from consumers

Ballard Spahr LLP on 11/1/2018

As part of an investigation launched earlier this year into allegations of redlining in the Philadelphia area, the Pennsylvania Attorney General Josh Shapiro recently called on mortgage borrowers and home loan applicants in...more

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