Mortgages, Trump Administration, Consumer Financial Products

Federal Judge rejects request to release ESSA Bank from redlining settlement

Ballard Spahr LLP on 7/29/2025

A federal judge has rejected the Trump Administration’s request to release from court supervision a bank that had been accused of discriminatory lending....more

Judge Denies Joint Motion to Vacate CFPB Settlement with a Chicago-Based Non-Bank Lender

Goodwin on 7/16/2025

An Illinois federal district court judge presiding over a revived redlining case denied a joint motion to vacate a 2024 voluntary settlement between the Consumer Financial Protection Bureau (CFPB) and a Chicago-based non-bank...more

CFPB rescinds 67 guidance documents

Ballard Spahr LLP on 5/19/2025

Contending that policies implemented by guidance represent an unfair regulatory burden and might be contrary to federal law, the CFPB is rescinding 67 guidance documents issued since the bureau began operating in 2011....more

Disparate Impact Executive Order and HUD to Reconsider Disparate Impact Rule

Ballard Spahr LLP on 5/5/2025

President Trump recently signed an Executive Order entitled “Restoring Equality of Opportunity and Meritocracy“ to eliminate the use of disparate impact liability. The U.S. Department of Housing and Urban Development (HUD)...more

CFPB Announces 2025 Supervision and Enforcement Priorities

Troutman Pepper Locke on 4/18/2025

This week, the Consumer Financial Protection Bureau (CFPB or Bureau) released a memo to staff outlining its new supervision and enforcement priorities for 2025....more

CFPB rescinds enforcement, supervisory priority documents, outlines new priorities for 2025

Ballard Spahr LLP on 4/18/2025

The CFPB is rescinding its existing enforcement and supervision priority documents, according to a memo sent to bureau staff by CFPB Chief Legal Officer Mark Paoletta....more

FHFA Director Pulte Terminates Mortgage-Related Special Purpose Credit Programs for GSEs

Troutman Pepper Locke on 3/28/2025

In a significant policy shift under the Trump administration, the new Federal Housing Finance Agency (FHFA) Director Bill Pulte issued an order on March 25, 2025 terminating special purpose credit programs (SPCPs) supported...more

CFPB seeking to reverse Townstone settlement, saying bureau ‘abused its power’

Ballard Spahr LLP on 3/28/2025

Saying that the bureau under the Biden Administration abused its power, the CFPB is seeking to reverse its settlement with Townstone Financial....more

2024 Year in Review: Mortgage Origination and Servicing

Goodwin on 3/14/2025

With the change in administration, enforcement actions at the federal level are expected to decrease, reflecting President Trump’s focus on deregulation. Indeed, during President Trump’s first term, the number of enforcement...more

Financial Daily Dose 2.20.2020 | Top Story: Fed Minutes Show Central Bank Happy With Economy, Worried About Coronavirus

Robins Kaplan LLP on 2/20/2020

Newly released minutes from the Fed’s January meeting show central bankers preoccupied with global risks, including the still-growing economic impact of the coronavirus, while still taking a wait-and-see approach to any...more

Inside the Beltway – Ringing in the Near Year With an Impeachment Trial

Ballard Spahr LLP on 1/24/2020

What legislative activity can we expect in 2020 in the area of housing finance reform? With the Senate kicking off the New Year with an impeachment trial, it is highly unlikely Congress will make much headway on housing...more

Financial Daily Dose 12.18.2019 | Top Story: Fiat Chrysler and Peugeot Boards Agree to $50 Billion Merger

Robins Kaplan LLP on 12/18/2019

Fiat Chrysler and rival Peugeot have agreed to binding merger terms that, if approved by US and European regulators, would create a “$50 billion auto giant that would rank among the world’s largest car companies by sales”....more

Inside the Beltway – Will Impeachment Trump Housing Finance Reform?

Ballard Spahr LLP on 10/4/2019

We continue to gauge the potential for Congress to act on the administration’s housing finance plan and/or pass their own before adjourning for the year. When Congress returned from August recess, members faced an ambitious...more

Financial Daily Dose 8.14.2019 | Top Story: U.S. Backs Off New Tariffs on China Until December

Robins Kaplan LLP on 8/14/2019

In the internal battle between keeping China off balance and keeping Wall Street happy, the White House has decided once again to focus on the latter, walking back the latest tariff escalation by postponing promised...more

Financial Daily Dose 5.28.2019 | Top Story: Fiat Chrysler and Renault in Talks to Merge

Robins Kaplan LLP on 5/28/2019

Fiat Chrysler and struggling post-Ghosn French automaker Renault are in talks to complete a merger of equals that could “reshape the global automobile industry.” If a deal is reached the combined company would be the third...more

Inside the Beltway: Chairwoman Waters Introduces Bill to Reverse Mulvaney Actions

Ballard Spahr LLP on 3/25/2019

House Financial Services Committee Chairwoman Maxine Waters recently introduced the "Consumers First Act," H.R. 1500, a modified version of a bill she introduced in the last session of Congress when Mick Mulvaney was still...more

Trade Groups Support Confirmation of Kraninger as CFPB Director

Ballard Spahr LLP on 11/14/2018

A number of housing and financial industry trade groups, including the Mortgage Bankers Association and Real Estate Services Providers Council, Inc. (RESPRO®), recently sent a letter to Senators Mitch McConnell (R-KY) and...more

Qualified mortgages: The uncertain future of the GSE patch

Bricker Graydon LLP on 7/27/2018

Late last month, President Trump’s administration released a wide-sweeping reform and reorganization plan for the federal government. Included in this plan was a proposal to reform two of the largest government sponsored...more

Bank Deregulation Bill Becomes Law

Cadwalader, Wickersham & Taft LLP on 5/29/2018

On May 24, President Trump signed into law the most significant banking legislation since the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) in 2010. The bill – named the Economic...more

House Passes Banking Bill Providing Dodd-Frank Relief

Ballard Spahr LLP on 5/23/2018

The U.S. House of Representatives on Tuesday passed S.2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act (the Act), by a vote of 258 to 159. ...more

CFPB changes direction in enforcement action; Mulvaney names senior advisor

Ballard Spahr LLP on 12/5/2017

A new filing by the CFPB in its action against Nationwide Biweekly Administration Inc. may be an indicator of the enforcement philosophy of Mick Mulvaney, President Trump’s designee as CFPB Acting Director, and how that...more

Financial Services Weekly News - July 2017

Goodwin on 7/13/2017

Editor's Note - Fireworks After the July 4th Holiday. On July 10, the Consumer Financial Protection Bureau (CFPB) issued the highly anticipated final Arbitration Rule, which prohibits the use of mandatory arbitration...more

Financial Services Report - Summer 2017

Morrison & Foerster LLP on 6/20/2017

EDITOR’S NOTE - Summer blockbuster season is officially upon us. Have you seen Wonder Woman yet? What about Guardians of the Galaxy Part 2? It’s déjà vu all over again with Baywatch, Pirates of the Caribbean, Alien,...more

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