This article is the second in a three-part series addressing a seminal Fifth Circuit case now pending before the U.S. Supreme Court. The case, CFSA v. CFPB, is scheduled for oral argument on October 2, 2023.
In last week’s post,
This article is the second in a three-part series addressing a seminal Fifth Circuit case now pending before the U.S. Supreme Court. The case, CFSA v. CFPB, is scheduled for oral argument on October 2, 2023.
In last week’s post,…
This article is the first in a three-part series addressing a seminal Fifth Circuit case that is now pending before the U.S. Supreme Court. Each week, we will debunk each myth and address the implications for consumer finance regulation going…
There is a broader trend in financial regulatory developments to implement traditionally consumer-style borrower protections in commercial lending. This is occurring at both the federal and state levels, each of which is discussed below.
Federal: CFPB Finalizes Rulemaking to Regulate…
FINRA’s 2023 Priorities and Examination Findings was the topic of discussion at SIFMA’s first monthly luncheon of 2023. Reed Smith sponsored this luncheon and provided a full report from the panel presentation by Robert Cook (President and CEO of FINRA)…
We recently had a chance to speak to The Independent and Forbes for articles on the impending regulatory response to the FTX bankruptcy, which will undoubtedly affect the entire crypto sector. A couple of additional thoughts worth mentioning are as follows:…
A new CFPB advisory opinion drills down on what consumer reporting agencies must do to address discrepancies in consumers’ credit reports, in order to protect consumers and remove obstacles to them getting credit. And while the Bureau gives specific examples…
Where plaintiffs assert civil claims alleging violations of the Fair Debt Collection Practices Act (the “FDCPA”), 15 U.S.C. §§ 1692-1692p, against mortgage lenders and their servicers, the defendants should assess the claims to determine whether they are subject to immediate…
On November 17, 2021, on its review en banc of its prior decision, the United States Court of Appeals for the Second Circuit changed its course in Maddox v. The Bank Of New York Trust Company, N.A., docket number 19-1774,…
In the wake of the Court of Appeals’ landmark decision in Freedom Mortgage v. Engel, 2021 NY Slip Op 01090 (2021), the Second Department has subsequently followed the guidance in Engel in modifying a lender’s burden in rebutting statute of…
Late Thursday evening, the Supreme Court of the United States issued an opinion to reinstate a court order blocking the Centers for Disease Control and Prevention’s (“CDC”) nationwide moratorium on residential evictions.
In March 2020, Congress passed the Coronavirus Aid,…