HUD and FHFA Announce Suspension of Evictions and Foreclosures
On Wednesday March 18, 2020, the FHFA announced a directive to help homeowners impacted by the COVID-19. To lessen the potential for those with single-family... Read More
Federal Regulatory Developments
CFPB Announces Compliance Assistance, Efforts Toward Whistleblower Awards
The CFPB recently announced efforts to assist entities with compliance obligations by implementing an advisory opinion program and updating the responsible business conduct bulletin. The... Read More
FTC Settles with Credit Repair Company for Piggybacking, Upfront Fees
The FTC recently agreed to settle claims against a credit repair company and its owner, filing a Stipulation to enter a permanent injunction and award... Read More
Court Issues Injunction Against Sellers of Student Loan Debt Relief Products
The U.S. District Court for the Central District of California recently entered an order against three defendants in a student loan debt relief scheme for... Read More
CFPB Releases TRID FAQs on Lender Credits
The CFPB recently updated its TILA-RESPA Integrated Disclosure FAQs by adding ten FAQs that relate to lender credits. The FAQs pointed to TRID regulatory text... Read More
FDIC Issues Guide for Fintechs and Third Parties
The FDIC’s technology lab, FDiTech, published a new guide to help fintechs and third parties partner and conduct business with banks. The Conducting Business with... Read More
Wisconsin Bank in FDIC Consent Order over CMS
A small Wisconsin-based bank recently entered into a consent order with the FDIC, agreeing to update the bank’s compliance management system (CMS) to improve consumer... Read More
FTC Releases Annual Privacy and Data Security Update
The FTC recently released its annual privacy and data security update, highlighting the FTC’s privacy and data security related enforcement actions and activities during 2019. ... Read More
FTC Workshop on Amendments to Safeguards Rule Scheduled for May 13, 2020
The FTC will seek input including research and testimony on the proposed changes to the Safeguards Rule under Gramm-Leach-Bliley in a public workshop scheduled for... Read More
CFPB Faces Upcoming Deadlines in Dodd-Frank Compliance Case
The CFPB recently reached a settlement ending ten months of litigation alleging that it violated Section 1071 of the Dodd-Frank Act by failing to collect,... Read More
CFPB Issues Supplemental Proposed FDCPA Rules
The CFPB recently issued a supplemental Notice of Proposed Rulemaking (NPRM) to add a requirement that debt collectors make certain disclosures when collecting time-barred debts,... Read More
FHA Releases Proposed Changes to Claims Without Conveyance of Title Procedures
On February 24, 2020, FHA announced proposed changes to its Claims Without Conveyance of Title (CWCOT) procedures, which mortgagees must use for all foreclosure sales... Read More
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