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Consumer Financial Services Review Blog

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CFPB “Unfairness Discrimination” Struck Down

USA - September 11 2023 On September 8, 2023, a federal court struck down the Consumer Financial Protection Bureau’s (CFPB) attempts to supervise institutions for so-called…

RESPA Enforcement is Back! The CFPB Takes Aim at Marketing and Promotional Activities

USA - August 20 2023 It has been more than five years since the Consumer Financial Protection Bureau (“CFPB”) has issued a consent order based on alleged violations of…

CFPB: Compensation Cannot Vary for Brokered Out Loans

USA - July 27 2023 In the CFPB’s new Supervisory Highlights, the agency concludes that paying individual mortgage loan originators differently for loan products that…

CFPB Announces Plans to Streamline Mortgage Servicing Rules

USA - June 21 2023 Last Thursday, the CFPB announced in a blog post that it is considering revising its mortgage servicing rules. This development follows a request for…

Pennsylvania Targets Rent-to-Own Company Over Practices

USA - May 18 2023 Pennsylvania Attorney General Michelle Henry just announced an $11 million settlement with a rent-to-own provider resolving allegations of deceptive…

Freddie Mac Springs New and Potentially Concerning Requirements on Servicers for Custodial Accounts

USA - April 16 2023 Residential mortgage servicers are obligated to indemnify Freddie Mac for loss of funds in custodial accounts or delays in access to the funds in…

The FDIC’s Observations on Lead Generation and RESPA Compliance

USA - April 10 2023 Lead generation and the Real Estate Settlement Procedures Act (“RESPA”) compliance remain hot topics following the Consumer Financial Protection…

CFPB Finalizes Long-Awaited Small Business Data Collection Rule

USA - April 3 2023 On March 30, 2023, the US Consumer Financial Protection Bureau (“CFPB”) published its long-awaited final rule requiring lenders to collect and report…

CFPB Addresses the Fine Lines of Appraisal Independence

USA - March 21 2023 In explaining its view of the pleading standards in a disparate treatment discrimination case, the Consumer Financial Protection Bureau (“CFPB”) shed…

CFPB Junk Fees Special Edition

USA - March 16 2023 The CFPB marketed its latest set of Supervisory Highlights as the “Junk Fees Special Edition.” The splashy headline is consistent with the agency’s…