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Treasury issues 2022 national illicit finance strategy

USA - May 19 2022 On May 13, the U.S. Treasury Department issued the 2022 National Strategy for Combatting Terrorist and Other Illicit Financing (2022 Strategy). As…

White House announces plan to help close the housing supply gap and ease housing costs

USA - May 19 2022 On May 16, President Biden released a plan intended to “help close” the housing supply gap and lower housing costs. The White House’s Housing Supply…

Counter ISIS Finance Group continues efforts to isolate ISIS from international financial system

Global, USA - May 19 2022 On May 17, the U.S. Treasury Department announced the release of a joint statement by members of the Counter ISIS Finance Group (CIFG) of the Global…

9th Circuit: Plaintiff’s incomplete loan modification application bars her CA Homeowner Bill of Rights claims

USA - May 19 2022 On May 11, the U.S. Court of Appeals for the Ninth Circuit affirmed dismissal of a Plaintiff’s allegations that a lender violated RESPA and the…

CFPB reports significant variance in mortgage servicers’ response to pandemic

USA - May 19 2022 On May 16, the CFPB released a report examining data collected across 16 large mortgage servicers from May through December 2021 on the servicers’…

District Court says defendant’s request for default judgment was more than "procedural mishap"

USA - May 19 2022 On May 11, the U.S. District Court for the Eastern District of Kentucky partially granted and partially denied a defendant collection attorney’s…

District Court approves $500 million tribal lending settlement

USA - May 19 2022 On May 12, the U.S. District Court for the Eastern District of Virginia preliminarily approved a nearly $500 million class action settlement…

CFPB circulars designed to promote consistent enforcement of consumer financial law

USA - May 19 2022 On May 16, the CFPB launched a new system for providing transparent guidance on how the agency intends to administer and enforce federal consumer…

Illinois amendments address confidentiality of customer financial records

USA - May 19 2022 On May 13, the Illinois governor signed SB 3971, which makes various amendments to Illinois Banking Act and Savings Bank Act provisions concerning…

Hsu urges banks to evaluate risk management exposures

USA - May 19 2022 On May 17, acting Comptroller of the Currency Michael J. Hsu stressed “[n]ow is the time for banks to take a fresh look at their exposures and take…