Recently, FinCEN published another piece of guidance for the industry outlining substantial updates to its Frequently Asked Questions (FAQs) regarding […]
Tag: Advisory
Summer of Servicemembers: Recapping DOJ’s SCRA Activity
Over the course of this past summer, the United States Department of Justice (DOJ) pursued a steady docket of settlements […]
Under New Management: The Trump Administration Reshapes Federal Banking Supervision
With the recent confirmations of Michelle Bowman as Vice Chair for Supervision at the Board of Governors of the Federal […]
Credit Algorithms, Disparate Impact, and The Search For Less Discriminatory Alternatives
(Originally published in ABA Risk and Compliance, July/August 2023) Bill Fair and Earl Isaac created the first modern credit scoring […]
Accuracy of Adverse Action Notices
On November 8, 2023, the Consumer Financial Protection Bureau (“CFPB”) entered into a consent order with a major bank to […]
Mortgage Lending Risks: Lessons from the CFPB’s Data Point: 2022 Mortgage Market Activity and Trends
In September 2023, the Consumer Financial Protection Bureau (“CFPB”) released Data Point: 2022 Mortgage Market Activity and Trends (“Data Point”).[1] […]
Loan Servicing Fees: A Consumer Protection Perspective
Loan servicing fees are charges imposed by loan servicers to manage and administer a borrower’s loan. These fees cover a […]
CFPB States Reopening Closed Accounts May Violate The CFPA
On May 10, 2023, the Consumer Financial Protection Bureau (“CFPB”) issued Consumer Financial Protection Circular 2023-02 (“CFPC 2023-02” or the […]