On October 11, 2016, the United States Supreme Court granted certiorari in the matter of Johnson v. Midland Funding LLC, on appeal from the Eleventh Circuit Court of Appeals, in order to resolve whether a conflict exists between the Fair
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D.C. Circuit Panel Rules CFPB Structure Unconstitutional
Court Also Interprets RESPA Section 8 Anti-Kickback Provisions and Rules that the CFPB Is Subject to RESPA Statute of Limitations
RESPA issues may be the most relevant aspect of the October 11, 2016, ruling by a three-judge panel of the
In Brief: CFPB Issues Long-Awaited Final Prepaid Rule
After more than four years of anticipation and speculation from the financial services community, the Consumer Financial Protection Bureau (CFPB) unveiled its final prepaid rule on October 5 (accompanied by an animated video explaining highlights of the rule).
Don’t Ask, Don’t Discriminate: CFPB States That ECOA Prohibits Creditor Discrimination Based on Gender Identity and Sexual Orientation
The Consumer Finance Protection Bureau has stated that discrimination by creditors based on gender identity or sexual orientation violates the Equal Credit Opportunity Act. As Slate online magazine put it, when providing the first widespread coverage of this issue in
New CFPB Mortgage Servicing and Loss Mitigation Rules to Take Effect in 2017 and 2018; New FDCPA Safe Harbor CFPB White Paper May Signal More to Come from CFPB on Loss Mitigation
The Consumer Financial Protection Bureau has issued yet another suite of regulatory changes related to mortgage servicing. The rules add additional protections for borrowers—and therefore increased requirements for servicers—as well as clarify certain issues that have been the subject of
CFPB Issues Latest TRID Proposal for Comment
On Friday, July 29, the Consumer Financial Protection Bureau (CFPB) issued a much-anticipated proposal to amend its TILA-RESPA Integrated Disclosure Rule (TRID), with public comments due October 18, 2016.
CFPB Releases Outline of Proposals for Debt Collection Rules
The Consumer Financial Protection Bureau (“CFPB”) announced yesterday at a field hearing in Sacramento, California, that it is considering several potential approaches to issuing rules on debt collection. The CFPB would take this action pursuant to its authority under the
Ninth Circuit Holds That Each Debt Collector Must Send to the Consumer Disclosures After Its Own Initial Communication Under the Fair Debt Collection Practices Act (FDCPA)
In an important ruling for debt collectors, the Ninth Circuit Court of Appeals held in Hernandez v. Williams, Docket No. 14-15672 (2016), that the failure of a debt collector (successor or otherwise) to send its own “validation notice” under 15
Insurance Companies – Are You Covered? The Dodd-Frank Proposed Rules on Incentive-Based Compensation
As the clock ticks toward the July 22 comment deadline for the proposed Dodd-Frank incentive compensation rules, entities that may be covered by the rules continue to evaluate the potential effects on their operations and their compensation practices. The rules
Howard Iwrey Quoted Extensively in Article on Antitrust Compliance for Banks
Howard B. Iwrey, Michigan-based antitrust and trade regulation attorney with the law firm of Dykema Gossett PLLC, was quoted extensively in the Law360 article, “How Banks Can Build Strong Antitrust Compliance Programs,” which discusses various ways that banks can add