On November 23, 2016, the Second Circuit issued its opinion in Strubel v. Comenity Bank, a putative Truth in Lending Act (TILA) class action with both standing and substantive TILA implications. In Strubel, the plaintiff challenged the […]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 February 19, the Federal Reserve noticed an information collection regarding recent changes to Regulation Z. The Notice (81 Fed. Reg. 8492) explains that the Federal Reserve is planning to update Regulation Z to include […]View More
A month has passed since the new TILA-RESPA Integrated Disclosure (“TRID” or “Know Before You Owe”) requirements went into effect on October 3, 2015, and while the transition has not been completely smooth, it has […]View More
Arguably the most pressing topic at this year’s Mortgage Bankers Association’s (MBA) Regulatory Compliance Conference (held on September 20-22, 2015 in Washington, D.C.) was the implementation of the TILA-RESPA Integrated Disclosure (TRID) Rule, which will […]View More
*Editor’s Note: This post originally appeared on our sister blog, Consumer Finance Enforcement Watch. Visit CFEW for more real-time reporting on the full range of public federal and state consumer finance enforcement activity.* For the second quarter […]View More
For the second time in recent weeks, the Consumer Financial Protection Bureau (CFPB) delayed the launch of the new integrated disclosures for residential mortgage loans under the Truth in Lending Act (TILA) and Real Estate […]View More
On April 28, 2014, the Supreme Court granted certiorari to decide whether, as held by the Eight Circuit, a borrower must file a lawsuit to exercise and preserve her TILA rescission right within three years […]View More
On Monday, November 17, we briefly discussed the CFPB’s newly proposed prepaid card rules. Today we elaborate on these newly proposed rules, and their effect on issuers if these new rules are implemented by the CFPB. […]View More
On Thursday, the CFPB issued a request for public comment on its proposed rule to regulate prepaid financial products. The rule would amend Regulation E, which implements the Electronic Funds Transfer Act (EFTA), and Regulation […]View More
Borrowers who rescind their loans pursuant to the Truth in Lending Act (TILA) must return to the creditor what they borrowed. But a July 16, 2014 ruling by the Court of Appeals for the Ninth […]View More
On May 28, the U.S. Court of Appeals for the Seventh Circuit affirmed a decision requiring two borrowers who prevailed on their TILA rescission claims to tender the principal loan balance before the lender would […]View More
On April 28, 2014, the U.S. Supreme Court granted certiorari in an Eighth Circuit case which held that a borrower exercises and preserves her TILA rescission right by filing a lawsuit within three years of […]View More
