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 … [Continue reading] about CFPB Issues Preemption Determination that State Commercial Financing Disclosure Laws Are Not Preempted By TILA
A&B Abstract: New York is one of the first states that enacted laws requiring consumer-style disclosures for commercial financing transactions (the “New York Law”). Previously, the New York Department of Financial Services (“NYDFS”) issued … [Continue reading] about New York’s Commercial Finance Disclosure Law Set to Take Effect August 1, 2023
A&B ABstract: On March 23, 2023, the Second Circuit held the Consumer Financial Protection Bureau’s (CFPB) funding structure is constitutional. This decision comes on the heels of the Supreme Court granting certiorari to review the Fifth … [Continue reading] about Second Circuit Deepens Circuit Split over CFPB Funding Structure
A&B ABstract: Effective July 1, Montana will become the latest jurisdiction to codify authorization for mortgage loan originators and mortgage company employees to engage in remote work. That legislation follows a general trend over the past … [Continue reading] about States Continue Trend Supporting Remote Work for MLOs and Mortgage Company Employees
A&B ABstract: In the 29nd edition of its Supervisory Highlights, the Consumer Financial Protection Bureau (“CFPB”) focused on the impact of so-called “junk” fees in the mortgage servicing, auto servicing, and student loan servicing industries, … [Continue reading] about CFPB Issues Special Edition of Supervisory Highlights Focusing on Junk Fees