Kansas District Court Dismisses Bank’s Challenge to FDIC Use of ALJs
Recently, the U.S. District Court for the District of Kansas dismissed a Motion for Preliminary Injunction filed by a Kansas Bank requesting relief against the... Read More
Federal Regulatory Developments
Federal Judge Temporarily Blocks Layoffs at CFPB
On February 14, by the agreement of the parties, a judge with the U.S. District Court for the District of Columbia ordered that CFPB employees... Read More
HUD Releases Bulletin Warning of Fraudulent Reverse Mortgage Transactions Following Misconduct by Illinois Contractor
In a February bulletin, HUD warned of fraudulent reverse mortgage transactions after an Illinois contractor was found to be convincing elderly homeowners to sign up... Read More
HUD Halts Enforcement of 2016 HUD Equal Access Rule
Newly appointed HUD Secretary, Scott Turner, recently directed HUD staff to immediately halt pending or future enforcement actions relating to HUD’s Equal Access to Housing... Read More
CFPB Rescinds Earned Wage Product Advisory Opinion
On January 15, 2025, the CFPB, under Director Chopra, rescinded its 2020 Advisory Opinion (AO) on earned wage products stating that it had flawed legal... Read More
President Trump Nominates Jonathan McKernan as CFPB Director
President Trump has nominated Jonathan McKernan as Director of the CFPB. Until recently, McKernan served as a member of the Board of Directors of the... Read More
CFPB Orders International Remittance Transfer Company to Pay Almost $2.5 Million Related to its Advertising and Disclosure Practices
On January 30, the CFPB ordered an international remittance transfer company to pay almost $2.5 million ($450,000 in redress and $2.025 million as a civil... Read More
FDIC Releases Collection of Cryptocurrency-Related Communications with Banks
The FDIC released a collection of documents regarding communications and interactions between the agency and various banks over efforts by the banks to engage in... Read More
CFPB Releases Report on Cash-Out Mortgage Refinances
The CFPB recently released a report on how cash-out mortgage borrowers between 2014 and 2021 used their funds from a refinance and how credit card... Read More
HUD Enters Settlement with FHA Servicer Over Payment Convenience Fees
HUD entered into a settlement with an FHA loan servicer regarding payment convenience fees (also referred to as “pay-to-pay” fees). FHA loan servicers may charge... Read More
CFPB Issues Supervisory Highlights on Advanced Technologies
The CFPB recently issued a special edition of Supervisory Highlights focused on select examinations of institutions that use credit scoring models, including models built with... Read More
President Trump Issues Executive Order for Regulatory Freeze Pending Review
President Trump recently issued an executive order prohibiting executive departments and agencies from proposing or issuing any rule, including by sending a rule to the... Read More
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