The New York Department of Financial Services has proposed significant changes to the mortgage servicer business conduct rules found in Part 419 of the Superintendent’s Regulations. The proposed changes represent the first major changes to Part 419 since its adoption nearly 10 years ago. Some of the significant proposed changes to Part 419 include: Adding […]
About Consumer Finance Team
Alston & Bird Publishes Article in “Mortgage Compliance Magazine” Addressing Key Debt Collection Challenges Raised Under the Fair Debt Collection Practices Act as a Major Focus for Industry in 2019
In February 2019, Alston & Bird Partner Nanci Weissgold and Senior Associate Anoush Garakani, wrote an article published in “Mortgage Compliance Magazine,” in anticipation of the Consumer Financial Protection Bureau’s (“CFPB”) recent Proposed Rule implementing the FDCPA. The article brings to the attention of the mortgage servicing industry the complex issues faced when applying the […]
Alston & Bird Issues Client Advisory on First-Known Decision Rendered by U.S. District Court, S. D. of Ohio (Eastern Division) Challenging CFPB’s ATR/QM Standards Favors Mortgage Industry
Alston & Bird Issues Client Advisory on First-Known Decision Rendered by U.S. District Court, S. D. of Ohio (Eastern Division) Challenging CFPB’s ATR/QM Standards Favors Mortgage Industry On April 24, 2019, Alston & Bird Partner Stephen Ornstein issued a Client Advisory to inform clients of an apparent case of first impression decided by the U.S. […]
Alston & Bird Issues Client Alert on New Cybersecurity Requirements As Recently Announced by the Federal Trade Commission
On April 3 , Alston & Bird Senior Associate Michael Young issued a Client Alert on a recent announcement made by the Federal Trade Commission on proposed rule updates to two key privacy and security regulations of the Safeguards Rule and the Privacy Rule that address new cybersecurity requirements. The Client Alert provides key highlights […]
Alston & Bird Issues Client Alert on a California Supreme Court Case Regarding When a Consumer Loan May Be Deemed “Unconscionable” Under California Law
On March 20, Alston & Bird Partner Stephen Ornstein issued a Client Alert to inform clients regarding a somewhat obscure California court case that contains very significant consequences for the financial services industry in connection with California consumer loans exempt from the state’s usury law. In a 2018 California Supreme Court case, the Client Alert […]