Search results

Order by most recent / most popular / relevance

Results: 1-10 of 42

New rules in 2010 for institutions subject to interest-rate restrictions on deposits

Morrison & Foerster LLP
-
USA
-
December 30 2009

Less than well-capitalized FDIC-insured institutions cannot pay more than 75 basis points above the prevailing rates for deposits in the applicable market area

Cramdown, and up

Morrison & Foerster LLP
-
USA
-
December 8 2009

Demonizing mortgage lenders is all the rage

Mod mods

Morrison & Foerster LLP
-
USA
-
December 8 2009

A lot of bad mortgage loans are located in California, and California has a loan modification law, Civ. Code 2923.6, that is similar to many others enacted around the country

Guidance on reverse mortgages

Morrison & Foerster LLP
-
USA
-
March 2 2010

The Federal Financial Institutions Examination Council ("FFIEC") released proposed guidance designed to help financial institutions ensure that their risk management and consumer protection practices address the compliance and reputation risks raised by reverse mortgage lending

A wash in the Ninth Circuit?

Morrison & Foerster LLP
-
USA
-
March 2 2010

In Donohue v Quick Collect, the Ninth Circuit concluded that: (i) a debt-collection complaint served directly upon a consumer is a communication subject to the Fair Debt Collection Practices Act (“FDCPA”); and (ii) technical, non-material inaccuracies within covered communications are not actionable under the FDCPA

Consummation TILA-style

Morrison & Foerster LLP
-
USA
-
March 2 2010

In Weintraub v Quicken Loans, Inc, No. 08-2373, 2010 U.S. App. LEXIS 2502 (4th Cir. Feb. 5, 2010), the Fourth Circuit determined what constitutes a consummated credit transaction giving rise to the right to rescind under the federal Truth in Lending Act

New asset-size thresholds for small banks and thrifts

Morrison & Foerster LLP
-
USA
-
March 2 2010

The FRB, FDIC, OCC, and OTS have announced annual adjustments to assetsize thresholds for defining "small bank," "small savings association," "intermediate small bank," and "intermediate small savings association" under the Community Reinvestment Act (CRA

Compliance with the new risk-based pricing rule

Morrison & Foerster LLP
-
USA
-
March 31 2010

A new rule, issued by the Federal Reserve Board and the Federal Trade Commission, requires any company that uses a credit report or score in connection with a credit decision - including companies such as banks, mortgage bankers, auto lenders, retailers, and public utilities - to send notice to a consumer when, based on a credit report or score, the company grants credit on "material terms that are materially less favorable than the most favorable terms available to a substantial proportion of consumers."