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Consumer Finance Team

Consumer Finance Team

About Consumer Finance Team

Alston & Bird’s Consumer Financial Services team is a preeminent group of lawyers who are focused on the regulation of consumer credit and real estate, with a broad emphasis on origination, servicing and secondary mortgage market transactions.

CFPB Issues Statement Encouraging Work with LEP Consumers

January 22, 2021 By Consumer Finance Team

A&B ABstract:  On January 13, 2021, the Consumer Financial Protection Bureau (“CFPB”) issued a Statement encouraging financial institutions to expand access to financial products and services for consumers with limited English proficiency (“LEP”). The CFPB considers a consumer to have LEP if the person has a limited ability to read, write, speak, or understand English. […]

Filed Under: Consumer Financial Protection Bureau (CFPB) Tagged With: #LEP

Massachusetts AG Announces Division Focused on Data Privacy and Security

August 18, 2020 By Consumer Finance Team

On August 13, Massachusetts Attorney General Maura Healey announced the creation of a Data Privacy and Security Division with the AG’s office, and named Sara Cable as Chief of the new division.  The new division is intended to protect Massachusetts consumers from increased threats to the privacy and security of their data.

Filed Under: Privacy and Cybersecurity

A&B Attorneys Address “The Impact of COVID-19 on Mortgage Servicing Rights and Servicing Advances”

August 14, 2020 By Consumer Finance Team

On August 11, a multidisciplinary group of Alston & Bird lawyers hosted the webinar “The Impact of COVID-19 on Mortgage Servicing Rights and Servicing Advances.”  Participants were Karen Gelernt and Katrina Llanes, Finance practice partners; Matthew Mamak, Corporate Transactions and Securities practice partner; and Nanci Weissgold, Financial Services & Products practice partner. The webinar addressed […]

Filed Under: CARES Act, COVID-19, Mortgage Loans, Mortgage Servicing Tagged With: #GSEs, #servicingadvance

CFPB Institutes Redlining Action Against Non-Bank Mortgage Lender

August 10, 2020 By Consumer Finance Team

A&B ABstract: Recently, the Consumer Financial Protection Bureau (“CFPB”) brought its first ever redlining case against a non-depository institution. While the CFPB has yet to issue guidance regarding how it would evaluate a non-bank lender’s activities for potential redlining, the CFPB’s allegations in this case provide some insight to mortgage lenders regarding compliance expectations. Discussion […]

Filed Under: Consumer Financial Protection Bureau (CFPB), Dodd-Frank Act, Equal Credit Opportunity Act (ECOA), Mortgage Loans Tagged With: #redlining, #Townstone

Fannie Mae Updates COVID-19 FAQ’s Related to Servicing

July 15, 2020 By Consumer Finance Team

A&B ABstract: On June 30, Fannie Mae updated its “COVID-19 Frequently Asked Questions” as part of an ongoing effort to provide guidance to lenders and servicers in connection with the ongoing COVID-19 national emergency. The updates address retention workout options and incentive fees, among other topics. Foreclosure Suspension Fannie Mae has updated Question 3 to […]

Filed Under: Mortgage Loans, Mortgage Servicing Tagged With: #COVID=19, #FannieMae

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Recent Posts

  • CFPB Delays Implementation of General “QM” Rule, May Jettison the “Seasoned QM” Rule
  • New York State Revises Restrictive HECM Foreclosure Law
  • Virginia Ready to Pass First State Privacy Statute after CCPA
  • CFPB Brings Action Against Connecticut Mortgage Lender
  • CFPB Issues Statement Encouraging Work with LEP Consumers
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