In the letter, ABA called on the bureau to rescind and revise the advisory opinion and reissue it for comment from all segments, including lenders, borrowers and settlement service providers. ABA also recommended that the bureau devote broader attention to reviewing and reforming the entirety of RESPA’s Section 8 provisions.
Compliance question of the month: Are banks required to provide a homeownership counseling notice to all HELOC applicants?
Compliance QOTM answers question on providing notices to all HELOC applicants.
The Consumer Financial Protection Bureau today released a set of frequently asked questions that provide an overview of the provisions included in Section 8 of the Real Estate Settlement Procedures Act and the respective anti-referral fee sections in Regulation X.
…and other answers to your compliance questions in the November/December 2019 ABA Regulatory Policy and Compliance Inbox.
The FDIC today released its first edition of Consumer Compliance Supervisory Highlights, a new publication intended to provide institutions with information and observations related to the agency’s consumer compliance supervision activities.
Consumer Financial Protection Bureau Acting Director Mick Mulvaney announced today that the bureau will drop its case against mortgage lender PHH Corp.
A federal appeals court today upheld the constitutionality of the Consumer Financial Protection Bureau’s leadership structure — a single powerful director who can be removed by the president only “for cause,” not at will — reversing a three-judge panel’s decision in 2016.
The laws surrounding the federal statute of limitations have been well established for years. But recently, the SEC and CFPB have attempted to go back on years of legal jurisprudence and upend those laws.
Do social media comments belong in the public CRA file… and more.
The full D.C. Circuit Court of Appeals today agreed to hear the appeal in PHH Mortgage v. Consumer Financial Protection Bureau, a closely watched case over whether the CFPB’s leadership structure — a single powerful director who cannot be removed at will by the president — is constitutional.