FTC Provides CFPB its 2018 Annual Financial Acts Enforcement Report
On May 30, 2019, the FTC provided the CFPB its 2018 Annual Financial Acts Enforcement Report, which summarizes the FTC’s enforcement activities related to regulations... Read More
Federal Regulatory Developments
National Flood Insurance Program Gets Short-Term Extension
The President recently signed legislation, attached to a broader disaster aid package, to extend the National Flood Insurance Program (NFIP) through the end of September.... Read More
CFPB Released FAQs on TRID Rule and Construction Loans
On May 31, 2019, the CFPB updated its TILA-RESPA Integrated Disclosure FAQs by adding two FAQs relating to construction loans, which clarified that construction-only loans... Read More
FHA Extends Comment Period for Proposed Revisions to its Loan-Level Certifications and Defect Taxonomy, not Annual Lender Certifications
FHA recently announced, in FHA Info #19-27 and #19-28, that it will extend the public feedback period on its proposed revisions to the Addendum to... Read More
CFPB and Mortgage Servicer Settle Alleged RESPA Violations for Less than $240,000
The CFPB recently announced that it settled with a large mortgage servicer for the servicer’s alleged violations of the Consumer Financial Protection Act of 2010,... Read More
$1.25 Million FDIC CMP for Alleged BSA Violations
A New York bank has entered into a Consent Order with the FDIC to pay a $1.25 million civil money penalty over allegations the bank... Read More
Head of Student Debt Relief Operation Settles with FTC over Allegations of Deceptive Marketing
The FTC filed a Stipulated Modified Final Order (Order) in California District Court against the president of a student debt relief services provider to settle... Read More
FTC Issues Final Rule Rescinding Certain FCRA Model Forms and Disclosures
The FTC recently issued a Final Rule which rescinds several FCRA Model Forms and Disclosures associated with rules and authorities which were transferred to the... Read More
CFPB Expands Financial Education Tool for Servicemembers
The CFPB Office of Servicemember Affairs launched training for all active-duty servicemembers using the style of a graphic novel (combined with live-action video) with an... Read More
FDIC Settles with Payday Lenders, Acknowledges Policies Not Followed
Several payday lenders recently resolved litigation against the FDIC that alleged that the FDIC had pressured banks to terminate their customer deposit account relationships based... Read More
VA Addresses Appraisal Requests Without the COE
Circular 26-19-12 announced that the VA will no longer allow appraisals to be requested through WebLGY prior to ordering a COE. As of the date... Read More
FTC Announces Launch of FinTech Webpage
The FTC recently launched a dedicated webpage designed to provide information to companies operating in the FinTech space. Touching upon FinTech-related topics such as consumer... Read More
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