Congress acted quickly as its new session began to approve a six-year extension of the Terrorism Risk Insurance Act (TRIA). Authorizing legislation for the federal program had expired at the… Read More »
The year began with a strong jolt of positive news: Employers added 252,000 jobs in December, beating estimates, and the unemployment rate declined to 5.6 percent, its lowest level since… Read More »
You don’t often see “pro-consumer” linked to a U.S. Supreme Court decision these days, but that’s an apt description of the court’s unanimous ruling on the right of borrowers to… Read More »
Federal regulatory agencies regularly interpret their regulations through guidance, letters, and memoranda explaining how the rules will be applied. But just how much interpreting and re-interpreting of those rules are… Read More »
President Barack Obama announced that the Federal Housing Administration will cut fees on the mortgages it insures in order to make buying a home less expensive. The annual premium charged… Read More »
December 17, 2014: CFPB sued a Texas-based company, Union Workers Credit Services, for deceiving consumers into paying fees to sign up for sham credit cards. The Bureau alleged that the… Read More »
November 13, 2014: CFPB ordered a California mortgage lender, Franklin Loan Corporation to pay $730,000 in compensation to affected consumers who were purportedly steered towards higher interest loans by 32… Read More »
October 9, 2014: CFPB took action against M&T Bank for allegedly deceptive advertising of free checking accounts. The CFPB found that M&T supposedly lured in consumers with promises of “no… Read More »
September 30, 2014: CFPB ordered a Michigan title insurance agency, Lighthouse Title, to pay a civil penalty of $200,000 for what they (‘The Bureau’) believed were illegal quid pro quo… Read More »
Federal bank regulators have proposed regulations that would require automatic escrowing of the premium payments on flood insurance policies. Federally regulated mortgage lenders are already required to make sure borrowers… Read More »