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Truth in Lending Act (TILA)

CFPB Issues Preemption Determination that State Commercial Financing Disclosure Laws Are Not Preempted By TILA

May 5, 2023 By Aldys London and Aileen Ng

A&B Abstract: The Consumer Financial Protection Bureau (CFPB) recently announced that it issued a final preemption determination concluding that certain state disclosure laws applicable to commercial financing transactions in California, New York, Utah, and Virginia are not preempted by the federal Truth in Lending Act (TILA). As covered in a previous post, we note that […]

Filed Under: California, Consumer Financial Protection Bureau (CFPB), State Law, Truth in Lending Act (TILA) Tagged With: #California, #CFPB, #New York, #Utah, commercial financing, disclosures, preemption, TILA

Assumptions on the Rise: Are You Ready for Mortgage Assumptions?

December 16, 2022 By Nanci Weissgold, Anoush Garakani and Melissa Malpass

A&B ABstract: Mortgage assumptions – where a buyer assumes the existing mortgage loan of a seller – have fluctuated in popularity since the 1980s. However, inflation and the high interest rate environment, coupled with an observable shift to a buyer’s market, are raising the prospect that assumable mortgages – especially those with historically low interest […]

Filed Under: Ability to Repay/Qualified Mortgage, Consumer Financial Protection Bureau (CFPB), Department of Housing and Urban Development (HUD), Licensing, Mortgage Loans, Mortgage Servicing, Real Estate Settlement Procedures Act (RESPA), TRID, Truth in Lending Act (TILA), Unfair, Deceptive and Abusive Acts or Practices (UDAAP) Tagged With: #mortgageservicing, assumablemortgage, Assumptions, HUD, mortgage lending, Mortgage Servicing, Servicing, UDAAP

HELOCs On the Rise: Is Your Servicing CMS Ready?

December 8, 2022 By Nanci Weissgold and Anoush Garakani

A&B ABstract: The Consumer Financial Protection Bureau (“CFPB” or “Bureau”) has moved to clarify its regulatory authority at a time when the economic climate is ripe for a resurgence in HELOC lending. In an amicus brief filed by the CFPB on November 30, 2022 (the “Amicus Brief”), the Bureau acknowledged that its Mortgage Servicing Rules, […]

Filed Under: Consumer Financial Protection Bureau (CFPB), Dodd-Frank Act, Fair Credit Reporting Act (FCRA), Licensing, Mortgage Loans, Mortgage Servicing, Real Estate Settlement Procedures Act (RESPA), State Law, Truth in Lending Act (TILA), Unfair, Deceptive and Abusive Acts or Practices (UDAAP) Tagged With: #CFPB, #FCRA, #mortgageservicing, #redlining, licensing, mortgage lending, Mortgage Servicing, Servicing, UDAAP

Alston & Bird Adds Consumer Finance Partner Aldys London in Washington, D.C.

September 23, 2022 By Consumer Finance Team

Alston & Bird has strengthened and expanded its capabilities for advising companies on state and federal consumer finance regulatory compliance issues with the addition of partner Aldys London in the firm’s Washington, D.C. office. Her clients include mortgage companies, consumer finance and FinTech companies, secondary market investors, real estate companies, home builders, insurance companies, banks, and other […]

Filed Under: Fair Credit Reporting Act (FCRA), Gramm Leach Bliley Act (GLBA), Home Mortgage Disclosure Act (HMDA), Licensing, Mortgage Loans, Real Estate Settlement Procedures Act (RESPA), TRID, Truth in Lending Act (TILA) Tagged With: #FCRA, ECOA, licensing, mortgage lending, Mortgage Servicing, RESPA, TILA

FTC Brings its First Case Alleging ECOA Violations in More than a Decade

June 5, 2020 By Kathleen Benway and Patrick Eagan-Van Meter

A&B ABstract: On May 27, 2020, the Federal Trade Commission (FTC) announced a complaint and settlement against a New York auto dealer alleging that it charged higher rates to African American and Hispanic customers, advertised prices it refused to honor, and fabricated fees in violation of the Equal Credit Opportunity Act (ECOA), Truth in Lending […]

Filed Under: Auto Loans, Equal Credit Opportunity Act (ECOA), Federal Trade Commission (FTC), Truth in Lending Act (TILA)

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Recent Posts

  • Consumer Finance State Roundup
  • CFPB Issues Preemption Determination that State Commercial Financing Disclosure Laws Are Not Preempted By TILA
  • New York’s Commercial Finance Disclosure Law Set to Take Effect August 1, 2023
  • Second Circuit Deepens Circuit Split over CFPB Funding Structure
  • States Continue Trend Supporting Remote Work for MLOs and Mortgage Company Employees
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