On August 31, 2021, the United States District Court for the Western District of Texas issued an opinion upholding the Consumer Financial Protection Bureau’s (CFPB) Rule regulating payday lending. Community Financial Services Association of America, LTD., et al. v. CFPB, Case No. 1:18-CV-00295 (W.D. TX.) (Community v. CFPB). For background,…
*Editor’s Note: This post originally appeared on our firm site as a client alert. Summary On July 28, the Consumer Financial Protection Bureau (the CFPB) released a summary of proposals it is considering to reform debt collection practices. At the same time, it released a Study of Third Party Debt…
Arguably the most pressing topic at this year’s Mortgage Bankers Association’s (MBA) Regulatory Compliance Conference (held on September 20-22, 2015 in Washington, D.C.) was the implementation of the TILA-RESPA Integrated Disclosure (TRID) Rule, which will take effect on October 3, 2015. While industry leaders at the conference generally seemed to accept…
On July 10, 2015, the Federal Communications Commission (FCC) released its TCPA Omnibus Declaratory Ruling and Order. We wrote about this order on June 29, previewing the FCC’s focus on consumers’ ability to opt out of certain calls, its reiteration of its definition of what constitutes an autodialer, and its…
On June 18, the Federal Housing Administration provided lenders with a new Defect Taxonomy for Single Family Housing Loans, or Loan Quality Assessment Methodology. It has been working on the new taxonomy for almost a year, and the final product is very similar to what it presented for comment in September…
On January 15, 2015, New York’s attorney general, Eric Schneiderman, proposed a new law that NY hopes will balance business and consumer interests while establishing New York as a leader in data security. The main effect of the proposed legislation would be to expand the definition of private information to…