April 12, 2016
Testing CFPB’s Constitutionality
Law360 quoted me in PHH Case Poised To Test CFPB’s Constitutionality (behind a paywall). It opens, A battle over the Consumer Financial Protection Bureau’s interpretation of mortgage regulations in assessing a $109 million penalty against a New Jersey-based mortgage firm has morphed … Continue reading
April 12, 2016 in Regulation | Permalink | No Comments
April 7, 2016
Protecting Seniors’ Home Equity
The Consumer Financial Protection Bureau has issued and Advisory and Report for Financial Institutions on Preventing Elder Financial Abuse. The Report defines elder financial exploitation as the illegal or improper use of an older person’s funds, property or assets. Studies … Continue reading
April 7, 2016 in Regulation | Permalink | No Comments
March 31, 2016
Surveying Financial Well-Being
The Consumer Financial Protection Bureau has issued a notice and request for comment on the Financial Well-Being National Survey. The CFPB is asking for comments on (a) Whether the collection of information is necessary for the proper performance of the … Continue reading
March 31, 2016 in Regulation | Permalink | No Comments
March 30, 2016
Road to GSE Reform
A bevy of housing finance big shots have issued a white paper, A More Promising Road to GSE Reform. The main objective of the proposal is to migrate those components of today’s system that work well into a system that is … Continue reading
March 30, 2016 in Regulation | Permalink | No Comments
March 18, 2016
Fannie & Freddie’s Duty to Serve
The Federal Housing Finance Agency had issued a request for comments on a proposed rulemaking back in December about Enterprise Duty to Serve Underserved Markets. Comments were due yesterday. I drafted a short comment letter on one of the many topics … Continue reading
March 18, 2016 in Regulation | Permalink | No Comments
March 15, 2016
Did Dodd-Frank Make Getting a Mortgage Harder?
____________________________________________________________ The short answer is — No. The longer answer is — No, but . . . Bing Bai, Laurie Goodman and Ellen Seidman of the Urban Institute’s Housing Finance Policy Center have posted Has the QM Rule Made … Continue reading
March 15, 2016 in Regulation | Permalink | No Comments
February 22, 2016
Consumer-Friendly Financial Innovation
The Consumer Financial Protection Bureau issued a Final Policy Statement on No-Action Letters. According to the press release, the policy is intended to facilitate consumer access to financial products and services that promise substantial benefit to consumers.” More specifically, according to the … Continue reading
February 22, 2016 in Regulation | Permalink | No Comments
