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Financial Services Perspectives Blog

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Consumer Advocate Appointed New Director of Justice Department’s U.S. Trustee Program

USA - January 25 2023 The Director of the Justice Department’s U.S. Trustee Program (USTP), which oversees the administration of bankruptcy cases, is about to change for…

FHA Implements COVID-19 Property Charge Repayment Plan for HECM Borrowers

USA - January 17 2023 On December 15, 2022, the Federal Housing Administration (FHA) issued Mortgagee Letter 2022-23, establishing the COVID-19 Home Equity Conversion…

CFPB Releases Report on Credit Reporting Agencies, Suggests Future Reforms

USA - January 9 2023 The Consumer Financial Protection Bureau (CFPB) released a report (2022 CFPB Report) on January 3, 2023, detailing information and trends related to…

HUD Authorizes Acceptance of Private Flood Insurance for FHA-Insured Mortgages

USA - January 5 2023 Effective December 21, 2022, the Federal Housing Administration (FHA) amended its regulation at 24 C.F.R. § 203.16a to allow FHA borrowers to…

FHA Extends Partial Waiver of Face-to-Face Meeting Requirement

USA - December 29 2022 On December 19, 2022, the Federal Housing Administration (FHA) issued an additional extension of the temporary waiver of face-to-face contact…

CFPB Issues Proposal Requiring Nonbank Institutions to Register and Report Violations of Consumer Protection Laws Issued by Other Agencies and Courts

USA - December 20 2022 The Consumer Financial Protection Bureau (CFPB) issued a release on December 12, 2022, considering a proposed rule that would require nonbank…

FCC Declares Ringless Voicemails Are Subject to TCPA’s Robocall Restrictions

USA - December 1 2022 In a recently issued ruling, the Federal Communications Commission (FCC) declared that "ringless voicemails" are "calls" subject to the requirements…

FTC Settlement with Auto Dealer Group Demonstrates Treatment of Discriminatory Conduct as “Unfair”

USA - October 24 2022 The FTC issued a release on October 18, 2022, to announce that it has initiated an enforcement action in Maryland against a Washington, D.C.-area…

Fifth Circuit Court of Appeals Invalidates Small-Dollar Rule, Throws the Future of the CFPB Into Question

USA - October 20 2022 On October 19, 2022, the Fifth Circuit Court of Appeals issued its opinion in Community Financial Services Association of America, et al. V. CFPB…

Have You Heard of ADCONs? How to Get Ready for Fannie Mae and Freddie Mac’s New Address Confidentiality Program Requirements

USA - September 23 2022 In July of this year, Fannie Mae announced an update to the Agency’s Seller and Servicer Guidelines to include requirements that mortgage loan…