On October 5, 2017 the Consumer Financial Protection Bureau (CFPB) revealed its final rule regulating payday lending. For the past five years, the CFPB had been doing research and seeking comments from the industry on […]View More
On August 23, 2017, the Office of the Comptroller of the Currency (OCC) published guidance on filings required by national banks and federal savings associations (collectively referred to here as “banks”) pertaining to “substantial asset […]View More
On July 20, 2017, the CFPB announced that updates to its Spring 2017 rulemaking agenda have been posted online on the Office of Management and Budget’s webpage. The amended agenda highlights both areas of anticipated regulatory […]View More
On June 12, 2017, the U.S. Department of the Treasury issued a 150-page report called for by President Trump’s Executive Order 13772 on Core Principles for Regulating the United States Financial System. The Report, entitled […]View More
On April 13, 2017, the Consumer Financial Protection Bureau (CFPB) issued proposed amendments to clarify certain requirements of the Home Mortgage Disclosure Act (HMDA). HMDA requires that financial institutions collect and report certain information regarding their […]View More
The five-year anniversary of some of the major financial regulations passed by the Consumer Financial Protection Bureau (CFPB) is coming up in January 2018, meaning that they will soon undergo a review to check on their […]View More
On February 21, 2017, the United States District Court for the Central District of California issued a stipulated order as to the final defendant in an alleged mortgage-relief scam. The court had entered judgment against […]View More
Goodwin, a leading Global 50 law firm, announced today the release of the 2016 Consumer Finance Year in Review, a detailed report that highlights the major litigation, enforcement and regulations that impacted the consumer finance […]View More
On December 21, 2016, the ranking member of the U.S. Senate Banking, Housing and Urban Affairs Committee, Senator Sherrod Brown (D-OH), sent a pointed letter to President-elect Trump’s nominee for Treasury Secretary, Steven Mnuchin. The letter […]View More
The Consumer Financial Protection Bureau’s (CFPB) recently-released Request for Information Regarding Consumer Access to Financial Records (RFI) suggests that the agency is considering making a new rule to set requirements and protections for the use […]View More
On November 18, 2016, the FCC issued an enforcement advisory clarifying its position that autodialed text messages, known as “robotexts,” are subject to the TCPA. As we reported last year, the FCC issued a package […]View More
*Editor’s Note: This post originally appeared on our firm site as a client alert. Summary On July 28, the Consumer Financial Protection Bureau (the CFPB) released a summary of proposals it is considering to reform […]View More
On July 29, 2016, the CFPB issued a new proposed rule, which is intended to clarify and ease compliance with certain provisions of the TILA-RESPA Integrated Disclosure (TRID) rule. The proposed rule tweaks TRID in […]View More
On May 18, 2016, the Consumer Financial Protection Bureau (CFPB) announced its Spring 2016 Rulemaking Agenda, setting forth its current initiatives. In its latest installment of the semi-annual update, the Bureau highlighted its recent (or […]View More
Goodwin Procter’s Financial Institutions Group partner Mike Flynn will speak at the MBA’s HMDA Implementation Workshop on June 10 in Austin, Texas. The MBA program will focus on the new Home Mortgage Disclosure Act (HMDA) rule, […]View More
On May 10, 2016, the U.S. Treasury Department released a white paper entitled, “Opportunities and Challenges in Online Marketplace Lending.” The white paper is the result of a request for information that elicited more than […]View More
On November 6, 2015, State National Bank (SNB) filed a summary judgment motion in the United States District Court for the District of D.C., seeking a declaratory judgment holding that the CFPB is unconstitutional and […]View More
In a March 23, 2016 proposal titled “A More Promising Road to GSE Reform“, several prominent policy commentators recently outlined their suggested plan for reforming the Federal Home Loan Mortgage Corporation (Freddie Mac) and the Federal […]View More
On February 23, 2016, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray delivered prepared remarks (click link for full text) regarding CFPB regulation of credit unions to the Credit Union National Association. The crux of Director Cordray’s […]View More
On February 18, 2016, the CFPB released its final policy regarding the issuance of No-Action Letters (NALs). While some in the industry question the efficacy of the new policy, lenders and other consumer financial service […]View More
