Starting July 1, 2025, Idaho will subject financial institutions with total assets over a certain threshold to new restrictions under the Transparency in Financial Services Act. The law follows a growing trend among states seeking to ensure fair access to banking and prevent financial denials based on political, religious, or ideological factors — often known
The start of the second Trump administration is fast approaching, and it raises prospects of a renewed push for federal-level fair access to banking requirements. The first Trump administration came close to enacting such a regulation in its last weeks, but the rule was halted by the Biden administration. The financial services industry should not
On July 1, 2024, banks and other financial institutions doing business in Florida will be required to comply with new rules designed to ensure fair access to banking and prevent politically or ideologically motivated denial of services. While Florida-licensed and chartered banks have been subject to some of these rules since the enaction of the
The Alabama Supreme Court’s recent ruling in Coan v. Championship Property, LLC has significant implications for mortgage lenders, servicers, and foreclosure sale purchasers. The decision settles a contested issue: May trial courts require borrowers to make escrow-style payments pending a final judgment in a foreclosure or eviction dispute? Although the full extent of the ruling
The Mississippi Securities Division is the closest regulator to the investing public of Mississippi. Among other tasks, they protect investors from fraud and abuse and make sure those licensed securities professionals doing business in the state are in compliance with the necessary securities laws. Today, securities regulators face a quickly changing landscape of new technology
Over the past two years, we’ve been covering the state legislatures and executive officials taking aim at environmental, social and governance (ESG) investing and ramping up the pressure on companies that incorporate ESG factors into business decisions. Financial services companies have been watching carefully to see what’s next in the state pushback to ESG. And
Based on a recent report from the Financial Stability Oversight Council (FSOC), nonbank mortgage companies (NMCs) need to prepare for additional regulatory scrutiny from both state and federal regulators. In the report, FSOC identifies NMCs as critical participants in both the residential mortgage origination and servicing industries. And in recognition of this distinction, FSOC believes
In a less-than-thousand-word opinion, the Fourth District Court of Appeal of Florida put foreclosure cases across Florida in jeopardy. Namely, in all foreclosure cases in which a borrower is deceased, unless the legal representative of the borrower’s estate is joined as a defendant — as opposed to a guardian ad litem or the heirs of
The Alabama Supreme Court recently issued a major published decision on circumstances in which a residential borrower can challenge a mortgage foreclosure sale. In Littlefield v. Smith, the court elevated the bona fide purchaser doctrine to central importance, holding that it limits the grounds for borrowers to bring many post-sale challenges if a third
In just a couple of years, “ESG” (environmental, social and governance) has gone from an obscure acronym to a term regularly bandied about in the news, as insurers and financial institutions face legal scrutiny into their investing practices.
A little more than a year ago, we addressed the trend of laws that divest state assets