Rural Housing Service Issues, Immediately Withdraws Final Rules
On March 29, 2016 the Rural Housing Service (RHS or Agency) amended their current regulation for the Single Family Housing Guaranteed Loan Program (SFHGLP) on... Read More
Federal Regulatory Developments
CFPB Issues Annual Complaint Report
The CFPB recently published its Consumer Response Annual Report (Report) that analyzes complaints handled by the Bureau in 2015. The Report shows a year-over-year increase... Read More
Wells Fargo Agrees to Settle Claim to End Suit by California’s Attorney General
On March 28, Wells Fargo settled a suit brought by the California Attorney General and five other California state agencies (including the office of Los... Read More
CFPB Supervisory Report Outlines Violations
The CFPB released its latest Supervisory Highlights Report on March 8, 2016 addressing issues uncovered from supervisory examinations generally completed between September and December 2015.... Read More
CFPB Issues Monthly Complaint Report for March
The CFPB released its March 2016 complaint report which is the ninth in its series of monthly complaint reports. According to the March 1, 2016... Read More
CFPB Provides Regulatory Relief for Small Creditors in Rural and Underserved Areas
On March 22, the CFPB issued an interim final rule that will allow more small creditors to qualify for special rural or underserved crediting provisions... Read More
CFPB Issues Advisory on Preventing Elder Abuse
On March 23, 2016 the CFPB issued an Advisory along with Recommendations and Report for Financial Institutions on Preventing Elder Financial Abuse. The Advisory and... Read More
CFPB Issues Report on Servicemember Complaints
A CFPB report titled Servicemembers 2015: A year in Review, released on March 22, 2016, highlighted high rates of debt collection complaints from Servicemembers and... Read More
CFPB Announces TRID Webinar on the Mortgage Disclosure Rule Post-Effective Date
The CFPB will be giving a webinar on Tuesday April 12, at 2 pm EDT to discuss the TILA RESPA Integrated Disclosure (or “Know Before... Read More
CFPB Wins Final Judgment against Morgan Drexen for Illegal Debt Relief Scheme
On March 18, 2016, a federal district court entered a final judgment against Morgan Drexen ending a lawsuit filed by the CFPB in 2013 relating... Read More
CFPB Announces Data Security Consent Order with Payment Processor
On March 2, 2016 the CFPB announced that it had entered into a consent order with payment processor Dwolla, Inc. In the CFPB’s first consent... Read More
Changes to RHS Single Family Housing Guaranteed Loan Program Technical Handbook Became Effective on March 9, 2016
The Rural Housing Service (RHS) made changes to the Guaranteed Loan Program Technical Handbook (HB‐1‐3555). The revised HB‐1‐3555 became effective on March 9, 2016. On... Read More
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