FTC Summarizes its 2015 ECOA and Regulation B Activity for CFPB Annual Report
In response to the CFPB’s request for information in preparing its 2015 Annual Report to Congress, the FTC recently summarized its 2015 engagement in various... Read More
Federal Regulatory Developments
FFIEC Releases Tips on Submitting 2015 HMDA Data
On February 10, 2016, the Federal Financial Institutions Examination Council (FFIEC) released a newsletter entitled “CRA/HMDA Tips to a Successful Processing Season.” The newsletter provides... Read More
Wells Fargo and the Department of Justice Agree to $1.2B Settlement
Wells Fargo and the Department of Justice (“DOJ”) have agreed to settle Federal Housing Administration (“FHA”) claims for the time period from 2001-2010. In a... Read More
CFPB Issues FCRA Compliance Bulletin Regarding Furnishing of Information to CRAs
On February 3, 2016, the CFPB issued Compliance Bulletin 2016-1 to address certain requirements that apply to furnishers of consumer information to credit reporting agencies... Read More
HSBC Reaches $601M Settlement over Allegations of Abusive Mortgage Practices
HSBC Bank USA and its affiliates (collectively, HSBC) reached a series of settlements with federal regulators and law enforcement agencies totaling $601 million over allegations... Read More
Federal Agencies Settle Controversies over Alleged Lending Discrimination
Three federal agencies actively pursued two separate cases of alleged racial discrimination in lending activities over the past two weeks, requiring over $23 million in... Read More
CFPB Publishes Clarification to TRID Preamble
The CFPB issued a notice in the Federal Register on February 10, 2016, to insert a previously omitted “not” from a sentence in the preamble... Read More
CFPB Announces TRID Webinar on Construction Lending
The CFPB will be giving a webinar on Tuesday, March 1, at 2 pm EDT to discuss the TILA RESPA Integrated Disclosure (or “Know Before... Read More
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