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Category: Press release |
Published

CFPB Issues Interpretive Rule on Certain Mortgage and Disclosure Timing Requirements for the 2021 Juneteenth Federal Holiday

The Consumer Financial Protection Bureau (CFPB) today released an interpretive rule to assist the mortgage industry in determining whether to treat June 19, 2021, as a federal holiday or a business day for purposes of compliance with certain time-sensitive borrower protections.

Category: Press release |
Published

Consumer Financial Protection Bureau Sues 1st Alliance Lending, LLC and Its Principals for Alleged Unlawful Mortgage Lending Practices

On January 15, 2021, the Consumer Financial Protection Bureau filed a lawsuit against 1st Alliance Lending, LLC, John Christopher DiIorio, Kevin Robert St. Lawrence, and Socrates Aramburu for allegedly engaging in various unlawful mortgage-lending practices.

Category: Press release |
Published

Consumer Financial Protection Bureau Requests Information on the Impact of the CARD Act Regulations on Small Entities and the Consumer Credit Card Market

The Consumer Financial Protection Bureau issued a request for information to examine the impact of the rules that implement the Credit Card Accountability Responsibility and Disclosure Act of 2009.

Category: Press release |
Published

Consumer Financial Protection Bureau Proposes New Category of Qualified Mortgages to Encourage Innovation and Access to Affordable Mortgage Credit

The Consumer Financial Protection Bureau issued a notice of proposed rulemaking to create a new category of seasoned qualified mortgages in order to encourage innovation and help ensure access to responsible, affordable in the mortgage credit market.

Category: Press release |
Published

Consumer Financial Protection Bureau Issues Proposed Rule on Escrow Exemptions for Certain High-Priced Mortgage Loans

The Consumer Financial Protection Bureau issued a notice of proposed rulemaking that would amend Regulation Z to provide a new exemption available to certain insured depository institutions and insured credit unions from the requirement to establish escrow accounts for certain higher-priced mortgage loans.

Category: Press release |
Published

Consumer Financial Protection Bureau Files Suit Against Fifth Third Bank, National Association for Allegedly Opening Unauthorized Accounts and Enrolling Consumers in Unauthorized Products and Services

The Consumer Financial Protection Bureau (Bureau) filed a lawsuit in federal district court in the Northern District of Illinois against Fifth Third Bank, National Association (Fifth Third).

Category: Press release |
Published

CFPB Issues Interpretitive Rule on Screening and Training Requirements for Mortgage Loan Originators

The Consumer Financial Protection Bureau (Bureau) issued today an interpretive rule clarifying screening and training requirements for financial institutions which employ loan originators with temporary authority. The rule will be effective on November 24, 2019.