FHA Announces Increase in Nationwide Loan Limits for 2018
On December 8, 2017, FHA issued Mortgagee Letters 2017-16 and 2017-17, announcing a new schedule of Nationwide Loan Limits for 2018 for forward and Home... Read More
Federal Regulatory Developments
FHA to Discontinue Insuring Mortgages with PACE Assessments
On December 7, 2017, FHA issued Mortgagee Letter 2017-18, announcing that it will no longer insure new mortgages on properties that include Property Assessed Clean... Read More
Acting Director Mulvaney Announces End to Regulation by Enforcement
Acting CFPB Director Mick Mulvaney recently informed CFPB employees that the Bureau will no longer “push the envelope” with regards to enforcement of federal consumer... Read More
Senator Warren Questions CFPB Data Collection Freeze
In a letter to Leandra English and Mick Mulvaney earlier this month, Senator Elizabeth Warren questioned Mr. Mulvaney’s announcement ordering a freeze on the CFPB’s... Read More
CFPB and Other Federal Agencies Adjust Civil Money Penalties for Inflation
The CFPB recently issued a final rule to adjust for inflation the civil penalties within its jurisdiction. The adjustments are required by the Federal Civil... Read More
CFPB Publishes Semiannual Regulatory Agenda
The CFPB published its Semiannual Regulatory Agenda in the Federal Register on January 12, 2018. The Agenda indicates that the information is current as of... Read More
DOJ Announces False Claims Act Recoveries for 2017
The Department of Justice (DOJ) recently announced recoveries of more than $3.7 billion from False Claims Act case settlements and judgments for the fiscal year... Read More
CFPB Announces Reconsideration of Payday Lending Rule
The CFPB recently issued a statement that it will be reconsidering the final rule entitled “Payday, Vehicle Title, and Certain High-Cost Installment Loans” (the “Payday... Read More
Federal Reserve Board Levies Civil Money Penalties Against Five Banking Organizations
The Federal Reserve Board recently terminated enforcement actions against ten banks. In the process, it imposed fines totaling $35.1 million upon five of the banks... Read More
Federal Reserve Board Fines Bank $90,000 in Connection with Violations of the National Flood Insurance Act
The Federal Reserve Board recently entered into a consent order with a bank, fining it $90,000 for undisclosed violations of the National Flood Insurance Act. ... Read More
Toy Company Settles DOJ Complaint Alleging Violations of Children’s Online Privacy Rule and FTC Act
The Federal Trade Commission (FTC) recently announced a settlement with an electronic toy manufacturer for violating the Children’s Online Privacy Protection Rule (COPPA) and the... Read More
OCC Imposes $70 Million Fine Against National Bank for Failing to Fix Anti-Money-Laundering Issues
On December 27, 2017, the Office of the Comptroller of Currency (OCC) entered a consent order with a national bank stemming from allegations that the... Read More
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