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Mayer Brown

CFPB Settles First Action Under New Leadership: Current State of the CFPB and a Look Ahead

Mayer Brown on

The Consumer Financial Protection Bureau (“CFPB” or “Bureau”) has seen significant changes since President Donald Trump fired former Director Rohit Chopra in January 2025. Under Acting Director Russell Vought, the CFPB has...more

A&O Shearman

A penalty for your thoughts: default interest rate found to be penal

A&O Shearman on

The High Court has found a clause that imposed default interest of 4% per month on a defaulting party to be a penalty and therefore unenforceable....more

Sheppard Mullin Richter & Hampton LLP

Residential Eviction Protections and California Consumer Financial Protections Pass Muster During 2020 Legislative Session

During the eleventh hour of the 2020 legislative session, the California Legislature approved 2 significant bills in response to the COVID-19 pandemic with the potential to have far-reaching ramifications for mortgage...more

Ballard Spahr LLP

Choice of Law and Commerce Clause Do Not Bar Minnesota Regulation of Internet Loans, State Court Rules

Ballard Spahr LLP on

A recent Minnesota state court decision serves as a painful reminder to Internet lenders of the perils of relying on choice-of-law provisions or arguments citing the Commerce Clause of the U.S. Constitution to avoid...more

Foley & Lardner LLP

Final Rule Issued on Ability-to-Repay/Qualified Mortgages

Foley & Lardner LLP on

The Consumer Financial Protection Bureau (CFPB) issued its final ability to repay rule (Rule) on January 10, 2013. The Rule implements ability-to-repay provisions of the Dodd-Frank Act, which imposed strict underwriting...more

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