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On August 15, the CFPB released a second update to its exam procedures in connection with mortgage regulations to cover: (i) ability-to-repay; (ii) qualified mortgages; (iii) high-cost mortgages; (iv) appraisals for higher-priced loans; and (v) amendments related to the escrows rule.

Yesterday, the California Supreme Court issued its opinion in Law Finance Group, LLC v. Key, 2023 WL 4168752. The Court's opinion answers the question of whether the deadline for seeking vacatur...

A company and several associates settled CFTC charges for failing to register as commodity trading advisors ("CTAs") while offering foreign currency transactions to retail customers.

Over the past few years, there have been dramatic changes in the corporate governance issues that have made obtaining shareholder approval of even mundane resolutions more difficult and more expensive.

Writing in Politico, Jim Glassman makes the case that Fannie and Freddie are now doing what they were created for and contemplated "reforms" would be bad policy.

On January 12, 2015, Vice Chancellor Laster of the Delaware Chancery Court granted the plaintiff’s motion for reargument and revived the breach of contract claims that the court had previously held to be untimely in Bear Stearns Mortgage Funding Trust 2006-SL1 v. EMC Mortgage Corp. and JPMorgan Chase Bank, N.A..

On January 8, the FHFA announced that it has directed Fannie Mae and Freddie Mac to delay the implementation of the increases to the guarantee fees that were originally to be effective in March and April 2014.

As we have previously reported, in October 2015, the Consumer Financial Protection Bureau (CFPB) issued a sweeping final rule ("2015 Final Rule") to amend Regulation C...

Discriminatory practices in the financial services industry have long been regulated by governmental entities tasked with promoting fair lending and ensuring equal opportunity regardless of race and gender.

Federal Communications Commission announced new rules on Thursday that imposes limitations on private collection agencies and servicers seeking to collect on behalf of federal debts.

mplementation of the U.K. Bribery Bill (discussed in our update of April 6, 2010) has been postponed for nine months while the government evaluates comments to the Bill raised by various business constituencies.

In the Winter 2016 issue of Supervisory Insights, the FDIC described expansions of banks' balance sheets, trends in credit risk, and principles of sound risk management practices.

The existing regulations exempt transactions of $25,000 or less from the appraisal requirements of Section 129H.

The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the FDIC proposed amendments to conform their CRA regulations with recent changes made by the CFPB to Regulation C.

The Consumer Financial Protection Bureau ("CFPB") issued an interim final rule to adjust the timing requirements for a servicer to provide an early intervention notice to a borrower...

A CFPB proposal to amend Regulation Z to provide an exemption from establishing escrow accounts for higher-priced mortgage loans ("HPMLs") was published in the Federal Register.

A CFPB proposal to change the definition of qualified mortgage in Regulation Z under the Ability to Repay/Qualified Mortgage Rule was published in the Federal Register.

The Board of Governors of the Federal Reserve System ("FRB"), the CFPB, and the OCC issued a final rule detailing the method to be used to determine the threshold for exempting smaller mortgage loans...