National Mortgage News | State Regulators Stepping Up Servicer Exams

The Consumer Financial Protection Bureau is facing another existential crisis, this time courtesy of the Fifth Circuit vacating its Payday Lending Rule. Our financial services groups explain how the ruling could invalidate everything the CFPB has ever done.

In a November 10 client advisory, our Financial Services & Products Group explores the case law and academic research surrounding the implications of a President removing a Senate-confirmed department head before the end of their term. Would an acting director’s actions be lawful? What does Dodd–Frank say? More importantly, what does the Federal Vacancies Reform […]

The post Could President Biden Appoint an Acting CFPB Director Under the FVRA? Not if He Fires Director Kraninger First appeared first on Alston & Bird Consumer Finance ABstract.

A&B ABstract: The Consumer Financial Protection Bureau (“CFPB” or the “Bureau”) issued a Policy Statement to provide a framework for how it intends to apply the Dodd-Frank Act’s “abusiveness” standard going forward in its supervision and enforcement activities. While this framework attempts to provide clarity where the Dodd-Frank Act left uncertain what acts and practices […]

The post CFPB Issues Policy Statement on Dodd-Frank “Abusiveness” Standard, But Important Uncertainties Remain appeared first on Alston & Bird Consumer Finance ABstract.

Nanci Weissgold is quoted on a 7th Circuit decision over the Fair Debt Collection Practices Act and how the decision impacts an earlier proposal made by the Consumer Financial Protection Bureau.

Our Financial Services & Products Group highlights key provisions of the newly signed Economic Growth, Regulatory Relief, and Consumer Protection Act likely to affect mortgage servicers.