In early March, the New York Department of Financial Services (NYDFS) announced a settlement involving a $1.5M penalty and mandatory remediation in response to a mortgage lender’s alleged failure to report a cyber breach, and other alleged … [Continue reading] about NYDFS Reports Major Cybersecurity Settlement
Key Takeaways from Chopra’s Nomination Hearing
A&B ABstract: On Tuesday, March 2, the Senate Committee on Banking, Housing, and Urban Affairs convened a remote hearing to consider the nominations of Rohit Chopra to be Director of the Bureau of Consumer Financial Protection (CFPB or Bureau) … [Continue reading] about Key Takeaways from Chopra’s Nomination Hearing
New Virginia Privacy Law Promises Big Impacts
Virginia became the second state after California to pass a comprehensive privacy law when the governor signed the Consumer Data Protection Act, which contains many elements found in the California Consumer Privacy Act and other proposed privacy … [Continue reading] about New Virginia Privacy Law Promises Big Impacts
Texas Court Strikes Down Federal Eviction Moratorium
A&B ABstract: On February 25, 2021, Judge J. Campbell Barker of the U.S. District Court for the Eastern District of Texas entered a declaratory judgment that the nationwide eviction moratorium ordered by the U.S. Centers for Disease Control and … [Continue reading] about Texas Court Strikes Down Federal Eviction Moratorium
CFPB Delays Implementation of General “QM” Rule, May Jettison the “Seasoned QM” Rule
A&B ABstract In a statement issued on February 23, 2021, the Consumer Financial Protection Bureau (“CFPB”) indicated that it intends to delay the General Qualified Mortgage (“QM”) rule’s mandatory July 1 2021 compliance date, and may amend or … [Continue reading] about CFPB Delays Implementation of General “QM” Rule, May Jettison the “Seasoned QM” Rule