A CFPB proposal to set ability-to-repay requirements for PACE lending has support from mortgage lenders. However, PACE lenders and eight Republican state attorneys general have warned the proposal would lead to the end of PACE lending.
A recent Senate subcommittee hearing on the CFPB’s efforts to rein in junk fees was deeply divided along partisan lines. Also, a former CFPB deputy director panned the administration’s work around junk fees.
CFPB won’t appeal Ocwen judgment; former CFPB senior counsel launches law firm; new appraisal standards will be available in print as well as digital format.
Industry participants spoke last week on effective implementation of the Department of Housing and Urban Development’s discriminatory effects rule during a conference of the National Fair Housing Alliance.
The consent orders related to Bank of America’s practice of charging repeat nonsufficient funds fees, denying rewards to credit card consumers and opening unauthorized credit card accounts.
Recent CFPB guidance on the prohibition of abusive practices could pose risks to real estate agents engaging in joint ventures with lenders and title companies, according to attorneys at McGuire Woods.
The Seventh Circuit held that lenders are not liable for how credit reporting agencies interpret information provided on an automated credit dispute verification form.
In recent amicus briefs, the bureau argued that statutes of limitations are subject to equitable tolling and a loan’s exposure to the Truth in Lending Act is not based solely on contractual language.
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