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Financial Services Perspectives

Regulatory, compliance, and litigation developments in the financial services industry

Topics

Affordable Housing

FHA Updates Single Family Policy Handbook 4000.1Second Circuit Rules on Landlord Fair Housing Act Liability for Ignoring Tenant-on-Tenant Racial HarassmentFHA Clarifies That DACA Classified Residents Are Permitted to Apply for FHA-Insured Mortgages

Alternative Finance

CFPB Sets Sight On “Buy Now Pay Later” in Targeted InquiriesAfter (Another) Unusual Year, We’re Very Thankful and Wish You a Happy ThanksgivingThe CFPB Director Expresses Concern About Section 1071 Regulatory Burdens on Small Banks

Anti-Money Laundering

We’re NOT so Early Anymore - As NFTs Hit Primetime In Insider Trading Case, A Broader Look Ahead For Digital Assets U.S. House Passes the SAFE Banking Act as Part of Defense BillCannabis Banking: An Update on the SAFE Banking Act

Automobile Finance

FTC Settlement with Auto Dealer Group Demonstrates Treatment of Discriminatory Conduct as “Unfair”Fifth Circuit Court of Appeals Invalidates Small-Dollar Rule, Throws the Future of the CFPB Into QuestionCFPB and DOJ Caution Auto Industry on SCRA Protections

Banking

We Wish You a Happy Thanksgiving as We Count Our BlessingsCFPB, DOJ File Complaint Against Non-Bank Mortgage Lender for Deliberate Discrimination Against Minority FamiliesThe Countdown Is on for Factors, MCAs, and Other Commercial Financing Providers to Comply with California’s Commercial Disclosure Law, and the Deadline Is Sooner Than You Think

Bankruptcy

Consumer Advocate Appointed New Director of Justice Department’s U.S. Trustee ProgramWe Wish You a Happy Thanksgiving as We Count Our BlessingsFourth Circuit Decision Clarifies Application of Exceptions to Discharge in a Subchapter V

Blockchain

What the Proposed North Carolina Regulatory Sandbox Could Mean for Fintech and the Financial Services CommunityCryptocurrencies: Currency, Commodity, Security or Something Else?Upending Trade Finance through Blockchain Technology

Bradley's Bankruptcy Basics

Consumer Advocate Appointed New Director of Justice Department’s U.S. Trustee ProgramBradley’s Bankruptcy Basics: Automatic Stay and Discharge Injunction ViolationsBradley’s Bankruptcy Basics: Automatic Stay Considerations When Businesses File for Bankruptcy

Broker-Dealer

Q&A with the Mississippi Securities Division: From Ponzi Schemes to CryptocurrencyO Canada! What Canada’s Nationwide Legalization of Cannabis Means for American Financial InstitutionsThe Supreme Court Levels the SEC Playing Field

Cannabis

CannaBanking in Mississippi: Weeding Through the RulesU.S. House Passes the SAFE Banking Act as Part of Defense BillCannabis Banking: An Update on the SAFE Banking Act

CARES Act

CFPB Fall Supervisory Highlights Shed Light on Agency Priorities – Mortgage Servicing Loss Mitigation ViolationsLandlords Again Successfully Challenge the CDC’s Authority to Ban Residential EvictionsBradley’s Bankruptcy Basics: COVID-19 Bankruptcy Relief Extension Act Extends Various CARES Act Amendments to the Bankruptcy Code

CCPA

After (Another) Unusual Year, We’re Very Thankful and Wish You a Happy ThanksgivingIn the Strangest Year Ever, We’re Very Thankful and Wish You a Happy ThanksgivingThe Perils of Responding to Cyber-Incidents Just Got More Complicated

CFPB

CFPB Releases Report on Credit Reporting Agencies, Suggests Future ReformsCFPB Issues Proposal Requiring Nonbank Institutions to Register and Report Violations of Consumer Protection Laws Issued by Other Agencies and CourtsWe Wish You a Happy Thanksgiving as We Count Our Blessings

Class Actions

FCC Declares Ringless Voicemails Are Subject to TCPA’s Robocall RestrictionsFCC Targets “Ringless Voicemails” for Robocalling EnforcementNew Amendments to the WVCCPA to Provide Additional Certainty for Businesses

Commercial Lending

Fifth Circuit Court of Appeals Invalidates Small-Dollar Rule, Throws the Future of the CFPB Into QuestionThe Countdown Is on for Factors, MCAs, and Other Commercial Financing Providers to Comply with California’s Commercial Disclosure Law, and the Deadline Is Sooner Than You ThinkFourth Circuit Decision Clarifies Application of Exceptions to Discharge in a Subchapter V

Compliance

Consumer Advocate Appointed New Director of Justice Department’s U.S. Trustee ProgramCFPB Issues Proposal Requiring Nonbank Institutions to Register and Report Violations of Consumer Protection Laws Issued by Other Agencies and CourtsWe Wish You a Happy Thanksgiving as We Count Our Blessings

Consumer Protection Act

CFPB Issues Proposal Requiring Nonbank Institutions to Register and Report Violations of Consumer Protection Laws Issued by Other Agencies and CourtsFannie Mae and Freddie Mac Direct Collection of Borrower Information to Further Fair Lending and Fair Servicing AimsCFPB, DOJ File Complaint Against Non-Bank Mortgage Lender for Deliberate Discrimination Against Minority Families

COVID-19 (Coronavirus)

FHA Implements COVID-19 Property Charge Repayment Plan for HECM BorrowersFHA Extends Partial Waiver of Face-to-Face Meeting RequirementWe Wish You a Happy Thanksgiving as We Count Our Blessings

Credit Card

New Amendments to the WVCCPA to Provide Additional Certainty for BusinessesCFPB Rescinds 2020 Policy Statements Issued Due to COVID-19Illinois Caps Consumer Loans at 36% Rate, Limiting Consumers’ Access to Credit

Credit Reporting Industry

CFPB Releases Report on Credit Reporting Agencies, Suggests Future ReformsCOVID-19 Mortgage Servicing Trends Report: 2020 Year-End ReviewIn the Strangest Year Ever, We’re Very Thankful and Wish You a Happy Thanksgiving

Credit Unions

Department of Defense Withdraws Troublesome Military Lending Act GuidanceCFPB’s New Policy on Abusive Practices Promises a “Common Sense” Approach to EnforcementNCUA’s Appraisal Threshold Increase to $1 Million for Commercial Real Estate Loans Set to Go into Effect

Cybersecurity

A Tale of Two Functions: Weighing Business and Legal Considerations in the Wake of a Data Breach to Preserve Attorney-Client Privilege and Work Product ProtectionsWhat the Proposed North Carolina Regulatory Sandbox Could Mean for Fintech and the Financial Services CommunityNew Cyber Insurance Risk Framework Provides Best Practices for the Insurance Industry

Data Privacy

Have You Heard of ADCONs? How to Get Ready for Fannie Mae and Freddie Mac’s New Address Confidentiality Program RequirementsCFPB Issues Advanced Notice of Proposed Rulemaking on Section 1033 for Consumer-Authorized Access to Financial DataThe Perils of Responding to Cyber-Incidents Just Got More Complicated

Debt Collection

“This Is an Attempt to Collect a Debt” May Mean What It Says: The Eleventh Circuit’s Recent Decision in Daniels v. Select Portfolio Servicing, Inc.CFPB Issues Advisory Opinion Clarifying Its Views on When Debt Collectors Can Charge Consumers “Convenience Fees”Fourth Circuit Decision Clarifies Application of Exceptions to Discharge in a Subchapter V

Digital Currency / Cryptocurrency

We’re NOT so Early Anymore - As NFTs Hit Primetime In Insider Trading Case, A Broader Look Ahead For Digital Assets Q&A with the Mississippi Securities Division: From Ponzi Schemes to CryptocurrencyCryptocurrencies: Currency, Commodity, Security or Something Else?

Disparate Impact

Fannie Mae and Freddie Mac Direct Collection of Borrower Information to Further Fair Lending and Fair Servicing AimsCFPB, DOJ File Complaint Against Non-Bank Mortgage Lender for Deliberate Discrimination Against Minority FamiliesFTC Updates CFPB on Action in the Fair Lending Space

Dodd-Frank Compliance

Georgia Passes Historic Mortgage Licensing LawDodd Frank 1071 Update: Members of Congress Address Significant ConcernsThe CFPB Director Expresses Concern About Section 1071 Regulatory Burdens on Small Banks

ECOA

FTC Settlement with Auto Dealer Group Demonstrates Treatment of Discriminatory Conduct as “Unfair”Fannie Mae and Freddie Mac Direct Collection of Borrower Information to Further Fair Lending and Fair Servicing AimsCFPB, DOJ File Complaint Against Non-Bank Mortgage Lender for Deliberate Discrimination Against Minority Families

Education Finance

Old Myths Die Hard: District Court Reverses Bankruptcy Court’s Discharge of Student Loan Debt Under BrunnerSecond Circuit Follows Other Recent Circuit Opinions Re: Private Student Loan DischargeMississippi Joins the Anti-Preemption Parade

Environmental

State Bank Regulations Become New Front in the Fossil Fuel WarsAgencies Offer Regulatory Assistance in Disaster Affected AreasDon’t Let A Natural Disaster Cause Financial Disaster

Events

Navigating ADA Compliance Issues in an Online WorldThe ABI Commission’s Final Report on Consumer Bankruptcy Issues: What Mortgage Creditors Need to KnowABI Commission’s Final Report on Consumer Bankruptcy Issues, What Creditors Need to Know

Fair Housing

CFPB, DOJ File Complaint Against Non-Bank Mortgage Lender for Deliberate Discrimination Against Minority FamiliesCFPB Provides New Guidance on Discrimination in Algorithmic Credit DecisionsBanking Regulators Publish Proposed Rule to Update Community Reinvestment Act Regulations

Fair Lending

FTC Settlement with Auto Dealer Group Demonstrates Treatment of Discriminatory Conduct as “Unfair”CFPB Plans to Increase Regulation over “Buy Now, Pay Later” LendersFannie Mae and Freddie Mac Direct Collection of Borrower Information to Further Fair Lending and Fair Servicing Aims

Fair Servicing

Fifth Circuit Court of Appeals Invalidates Small-Dollar Rule, Throws the Future of the CFPB Into QuestionFannie Mae and Freddie Mac Direct Collection of Borrower Information to Further Fair Lending and Fair Servicing AimsCFPB Provides New Guidance on Discrimination in Algorithmic Credit Decisions

False Claims Act

2021 Proves to Be Another Big Year for the False Claims ActFocus on False Claims Act Suits Continues in 2020 Despite a Nationwide PandemicContinued Payments by the VA Won’t Stop Qui Tam When It Comes to Purported Fraud on Veterans

FCRA

CFPB Releases Report on Credit Reporting Agencies, Suggests Future ReformsCFPB Rescinds 2020 Policy Statements Issued Due to COVID-19Acting Director David Uejio Issues Warning: CFPB Will Take Aggressive Action with Regard to COVID-19

FDCPA

“This Is an Attempt to Collect a Debt” May Mean What It Says: The Eleventh Circuit’s Recent Decision in Daniels v. Select Portfolio Servicing, Inc.CFPB Issues Advisory Opinion Clarifying Its Views on When Debt Collectors Can Charge Consumers “Convenience Fees”After (Another) Unusual Year, We’re Very Thankful and Wish You a Happy Thanksgiving

Federal Agencies

Fifth Circuit Court of Appeals Invalidates Small-Dollar Rule, Throws the Future of the CFPB Into QuestionFTC Updates CFPB on Action in the Fair Lending SpaceAgencies’ Joint Statement on Supervisory and Enforcement Practices Forecasts Increased Scrutiny and Regulatory Activity

FFIEC

Update March 13, 2020: Financial Services Licensing and Compliance Obligations and COVID-19Financial Services Licensing and Compliance Obligations and COVID-19O Canada! What Canada’s Nationwide Legalization of Cannabis Means for American Financial Institutions

FHA

FHA Implements COVID-19 Property Charge Repayment Plan for HECM BorrowersHUD Authorizes Acceptance of Private Flood Insurance for FHA-Insured MortgagesFHA Extends Partial Waiver of Face-to-Face Meeting Requirement

FinCEN

Cannabis Banking: An Update on the SAFE Banking ActFacilitating Ransomware Payments Entails Sanctions Risks, OFAC WarnsHemp Banking – FinCEN Issues New Guidance Regarding AML/BSA Obligations

FinTech

The Countdown Is on for Factors, MCAs, and Other Commercial Financing Providers to Comply with California’s Commercial Disclosure Law, and the Deadline Is Sooner Than You ThinkFintechs and Non-banks Beware: CFPB to Utilize “Dormant Authority” to Examine Fintechs and Other Non-bank Financial Services CompaniesFTC Updates CFPB on Action in the Fair Lending Space

FIRREA

CFIUS/FIRRMA: Final U.S. Foreign Direct Investment RegulationsWould the 7th Circuit Have Changed Its FCA Standard but for Peer Pressure?Jury Verdict Expands to $298 Million in False Claims Act/FIRREA Case as Court Assesses Treble Damages and Penalties

Foreclosing Entities

Bankruptcy Court Upholds Foreclosure Sale That Occurred Between Bankruptcy Case Dismissal and Subsequent ReinstatementCDC Issues Eviction Moratorium, but Will It Survive Legal Challenge?Pre-Bankruptcy Automatic Stay Waivers – More Valuable Than Ever These Days?

Foreclosure

Bradley’s Bankruptcy Basics: The Automatic Stay and the “Why” Behind the Warnings: What Happens Once a Debtor Files for Bankruptcy?South Carolina Ruling Gives Lenders Flexibility on When to Foreclose in Face of Borrower LitigationFlorida Homestead Exemption Applies Only to U.S. Citizens and Permanent Residents

FTC

FTC Settlement with Auto Dealer Group Demonstrates Treatment of Discriminatory Conduct as “Unfair”FTC Updates CFPB on Action in the Fair Lending SpaceFTC’s Comment on ECOA and Regulation B Signals Continued Focus on Small Business Lending

HOA Super Priority Liens

New Nevada Decisions Confirm Additional Ways to Satisfy HOA Superpriority LiensNevada Supreme Court Rules Bank Tender Defeats HOA Superpriority LienNevada Courts Provide Additional Guidance on HOA Super Priority Lien Law for Lenders

HUD

FHA Implements COVID-19 Property Charge Repayment Plan for HECM BorrowersHUD Authorizes Acceptance of Private Flood Insurance for FHA-Insured MortgagesFHA Extends Partial Waiver of Face-to-Face Meeting Requirement

Identity Theft / Privacy

A Tale of Two Functions: Weighing Business and Legal Considerations in the Wake of a Data Breach to Preserve Attorney-Client Privilege and Work Product ProtectionsThe Perils of Responding to Cyber-Incidents Just Got More ComplicatedFTC Imposes $110 Million Fine Against Payment Facilitator and Its Executives

Installment Lending

Fifth Circuit Court of Appeals Invalidates Small-Dollar Rule, Throws the Future of the CFPB Into QuestionNew Mexico Governor Signs Bill to Impose 36% Rate Cap and Tough Anti-Evasion ProvisionsDistrict Court Ruling Clears Way for Small Dollar Rule Compliance Date in June 2022

Insurance

HUD Authorizes Acceptance of Private Flood Insurance for FHA-Insured MortgagesFEMA to Issue New Homeowner Flood FormThe Future of the National Flood Insurance Program – A Legislative Update

Investigations / Enforcement

The Countdown Is on for Factors, MCAs, and Other Commercial Financing Providers to Comply with California’s Commercial Disclosure Law, and the Deadline Is Sooner Than You ThinkWe’re NOT so Early Anymore - As NFTs Hit Primetime In Insider Trading Case, A Broader Look Ahead For Digital Assets Georgia Passes Historic Mortgage Licensing Law

Licensing

Georgia Passes Historic Mortgage Licensing LawOCC Releases Final True Lender RuleOCC Proposes Clarification to True Lender Doctrine

Litigation Developments

A Tale of Two Functions: Weighing Business and Legal Considerations in the Wake of a Data Breach to Preserve Attorney-Client Privilege and Work Product ProtectionsSouth Carolina Ruling Gives Lenders Flexibility on When to Foreclose in Face of Borrower LitigationDoes the Eleventh Circuit’s Hunstein Decision Mean that the FDCPA Violates the First Amendment?

Loan Modification

Agencies Offer Regulatory Assistance in Disaster Affected AreasPre-Bankruptcy Automatic Stay Waivers – More Valuable Than Ever These Days?A Good Day for Lenders: Texas Supreme Court Rules that Lenders Still Entitled to Equitable Subrogation for Non-compliant Home Equity Loans

Loan Underwriting

CFPB Releases Observations of COVID-19 Impacts to Small Business Lending through PPP Loans and Potential Fair Lending RisksFederal Reserve Implements Aggressive Liquidity Campaign as Growing Corporate Debt Threatens to Exacerbate COVID-19 Economic TollNational Credit Union Administration Encourages Banking Hemp Businesses — With Some Caveats

Loss Mitigation

CFPB Releases RFI on Mortgage Servicing Rules Signaling Potential for Future Regulatory ReformCFPB Fall Supervisory Highlights Shed Light on Agency Priorities – Mortgage Servicing Loss Mitigation ViolationsThe CFPB’s New COVID-19 Procedural Safeguard Rules Pose Significant Compliance Challenges for Mortgage Servicers

Manufactured Housing

HUD Proposes Amendments to the Federal Manufactured Home Construction and Safety StandardsHUD and DOJ Release Memorandum on the Application and Enforcement of FHA Violations Involving the False Claims ActSecretary Carson Focused on Improving Access to Manufactured Housing

Merchant Cash Advance

After (Another) Unusual Year, We’re Very Thankful and Wish You a Happy ThanksgivingThe CFPB Director Expresses Concern About Section 1071 Regulatory Burdens on Small BanksNew York DFS Proposes Regulation to Implement TILA-Like Requirements on Small Business Loans

MERS

Connecticut Supreme Court Upholds Constitutionality of MERS Recording StatuteImportant New Tennessee MERS Opinion IssuedFifth Circuit Court of Appeals Upholds MERS' Authority to Assign Mortgages

MLA

Department of Defense Withdraws Troublesome Military Lending Act GuidanceNew Legislation in House, Senate Would Cap Consumer Loans at 36%, Crippling the IndustryCFPB Proposes Reporting and Examination Authority Over Military Lending Act

Mortgage Loan Originators

FHA Extends Partial Waiver of Face-to-Face Meeting RequirementFifth Circuit Court of Appeals Invalidates Small-Dollar Rule, Throws the Future of the CFPB Into QuestionCFPB, DOJ File Complaint Against Non-Bank Mortgage Lender for Deliberate Discrimination Against Minority Families

Mortgage Servicing

FHA Implements COVID-19 Property Charge Repayment Plan for HECM BorrowersHave You Heard of ADCONs? How to Get Ready for Fannie Mae and Freddie Mac’s New Address Confidentiality Program RequirementsCFPB Releases RFI on Mortgage Servicing Rules Signaling Potential for Future Regulatory Reform

NCUA

Federal Financial Agencies Announce Flexibility in Enforcing Certain Mortgage Servicing Rules in Response to COVID-19Federal Regulatory Agencies Offer Interagency Statement Regarding COVID-19-Related Loan Modifications and Status ReportingNCUA’s Appraisal Threshold Increase to $1 Million for Commercial Real Estate Loans Set to Go into Effect

NMLS

Georgia Passes Historic Mortgage Licensing LawUpdates from 12 State Regulatory Agencies Regarding Coronavirus and Related Work from Home IssuesFour Additional States Issue New Guidance Relating to Working from Home; Massachusetts and New York Supplement Previous Guidance

Non-Borrowing Spouse

FHA Extends Non-Borrowing Spouse ProtectionsEleventh Circuit Rules Reverse Mortgage Companies Not Prohibited from Foreclosing on Non-Borrowing SpousesFlorida Third District Court of Appeal’s Ruling in Favor of Reverse Mortgage Lender Signals New Positive Outlook for Non-Borrowing Spouse Issue

OCC

Banking Regulators Publish Proposed Rule to Update Community Reinvestment Act RegulationsOCC Releases Final True Lender RuleState Attorneys General Challenge FDIC’s Madden Fix

Payday Lending

Fifth Circuit Court of Appeals Invalidates Small-Dollar Rule, Throws the Future of the CFPB Into QuestionNew Mexico Governor Signs Bill to Impose 36% Rate Cap and Tough Anti-Evasion ProvisionsCFPB Fall Supervisory Highlights Shed Light on Agency Priorities – Small Dollar Lending

Payment Systems

CFPB Files Suit Against Payment Processor for Its Customers’ Alleged ScamsCalifornia’s Proposed “Mini-CFPB” May Increase Scrutiny of Auto Lenders and Other Industry ParticipantsNavigating ADA Compliance Issues in an Online World

Regulatory Supervision

Fifth Circuit Court of Appeals Invalidates Small-Dollar Rule, Throws the Future of the CFPB Into QuestionThe Countdown Is on for Factors, MCAs, and Other Commercial Financing Providers to Comply with California’s Commercial Disclosure Law, and the Deadline Is Sooner Than You ThinkGeorgia Passes Historic Mortgage Licensing Law

RESPA

CFPB’s Escrow Interpretation Is Causing Confusion Amongst Servicers and Is Likely to Harm ConsumersU.S. Fifth Circuit Rejects “Vicarious Liability” Theory under RESPADo Servicers Have to Monitor Whether a Successor in Interest is in Bankruptcy? CFPB’s FAQ Suggests the Answer is “Yes”

Reverse Mortgage

HUD Releases Update to HECM Program Requirements for HECMs Due and Payable Due to Death of BorrowerGeorgia Passes Historic Mortgage Licensing LawFHA Updates Single Family Policy Handbook 4000.1

SCRA

CFPB and DOJ Caution Auto Industry on SCRA ProtectionsCalifornia’s Servicemember Protections Expanded for Student LoansMilitary Consumer Enforcement Act Introduced in Senate Seeks to Enhance SCRA Enforcement

SEC

Cryptocurrencies: Currency, Commodity, Security or Something Else?O Canada! What Canada’s Nationwide Legalization of Cannabis Means for American Financial InstitutionsThe Supreme Court Levels the SEC Playing Field

Secured Creditors

Fourth Circuit Decision Clarifies Application of Exceptions to Discharge in a Subchapter VBradley’s Bankruptcy Basics: Automatic Stay Considerations When Businesses File for BankruptcyBradley’s Bankruptcy Basics: The Automatic Stay and the “Why” Behind the Warnings: What Happens Once a Debtor Files for Bankruptcy?

Secured Debts

Fourth Circuit Decision Clarifies Application of Exceptions to Discharge in a Subchapter VBradley’s Bankruptcy Basics: The Automatic Stay and the “Why” Behind the Warnings: What Happens Once a Debtor Files for Bankruptcy?Bradley’s Bankruptcy Basics: Payment of Claims

Short-Term Loans

Fifth Circuit Court of Appeals Invalidates Small-Dollar Rule, Throws the Future of the CFPB Into QuestionDistrict Court Ruling Clears Way for Small Dollar Rule Compliance Date in June 2022Illinois Caps Consumer Loans at 36% Rate, Limiting Consumers’ Access to Credit

Small Business Lending

Fifth Circuit Court of Appeals Invalidates Small-Dollar Rule, Throws the Future of the CFPB Into QuestionThe Countdown Is on for Factors, MCAs, and Other Commercial Financing Providers to Comply with California’s Commercial Disclosure Law, and the Deadline Is Sooner Than You ThinkFirst DOJ Enforcement Action Against PPP Lender Presages Increased Government Scrutiny of Bank and Non-Bank PPP Lenders

Small-Dollar Lending

Fifth Circuit Court of Appeals Invalidates Small-Dollar Rule, Throws the Future of the CFPB Into QuestionFTC Updates CFPB on Action in the Fair Lending SpaceNew Mexico Governor Signs Bill to Impose 36% Rate Cap and Tough Anti-Evasion Provisions

State Law Developments

We Wish You a Happy Thanksgiving as We Count Our BlessingsThe Countdown Is on for Factors, MCAs, and Other Commercial Financing Providers to Comply with California’s Commercial Disclosure Law, and the Deadline Is Sooner Than You ThinkGeorgia Passes Historic Mortgage Licensing Law

Student Loan Servicing

CFPB Sends Signal to Student Loan Servicers Through UDAAP Consent OrderCFPB Fall Supervisory Highlights Shed Light on Agency PrioritiesOld Myths Die Hard: District Court Reverses Bankruptcy Court’s Discharge of Student Loan Debt Under Brunner

Supreme Court

If You Thought the TCPA Was on Its Way Out, Think Again: The Supreme Court Expands Its Prohibitions InsteadSupreme Court Holds That Part of CFPB’s Structure Is UnconstitutionalA Good Day for Lenders: Texas Supreme Court Rules that Lenders Still Entitled to Equitable Subrogation for Non-compliant Home Equity Loans

TCPA

FCC Declares Ringless Voicemails Are Subject to TCPA’s Robocall RestrictionsFCC Targets “Ringless Voicemails” for Robocalling EnforcementThe Tide Has Turned in TCPA Litigation: The Supreme Court Unanimously Adopts Narrow Definition of “Autodialer” in Landmark Decision

Tenant Protection

Second Circuit Rules on Landlord Fair Housing Act Liability for Ignoring Tenant-on-Tenant Racial HarassmentFHA Clarifies That DACA Classified Residents Are Permitted to Apply for FHA-Insured MortgagesFederal District Court Stays Effective Date and Enjoins Enforcement of HUD’s Final Rule on the Fair Housing Act’s Disparate Impact Standard

TILA

CFPB Plans to Increase Regulation over “Buy Now, Pay Later” LendersNew York DFS Proposes Regulation to Implement TILA-Like Requirements on Small Business LoansCFPB Releases TRID Guidance for Juneteenth National Independence Day

Title Loans

Illinois Caps Consumer Loans at 36% Rate, Limiting Consumers’ Access to CreditCalifornia Latest State to Consider Lead Generation LicensingCFPB Guts Major Component of Payday Lending Rule

TRID

CFPB Releases TRID Guidance for Juneteenth National Independence DayCFPB Finalizes Amendments to TRID RuleCFPB Issues Proposed Amendments to TRID Rule

UDAAP

CFPB Issues Proposal Requiring Nonbank Institutions to Register and Report Violations of Consumer Protection Laws Issued by Other Agencies and CourtsCFPB Sends Signal to Student Loan Servicers Through UDAAP Consent OrderCFPB Fall Supervisory Highlights Shed Light on Agency Priorities – Mortgage Servicing Loss Mitigation Violations

Unsecured Lending

Fourth Circuit Decision Clarifies Application of Exceptions to Discharge in a Subchapter VFTC Updates CFPB on Action in the Fair Lending SpaceCFPB Fall Supervisory Highlights Shed Light on Agency Priorities – Small Dollar Lending

Vendor Management

Does the Eleventh Circuit’s Hunstein Decision Mean that the FDCPA Violates the First Amendment?New Federal Appellate FDCPA Decision Threatens to Upend Debt Collection and Loan ServicingNYDFS’s New (and Expanded) Servicer Vendor Management Expectations
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