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
Second Circuit Deepens Circuit Split over CFPB Funding Structure
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
States Continue Trend Supporting Remote Work for MLOs and Mortgage Company Employees
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
CFPB Issues Special Edition of Supervisory Highlights Focusing on Junk Fees
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
As Economic Winds Blow, So Do Whistleblowers: How to Protect Your Company Through Turbulent Times
A&B ABstract: As recently reported by the Financial Times, banks are preparing for the “deepest job cuts since the financial crisis,” with firings to be “super brutal.” Already, nonbank lenders and service providers have been suffering with … [Continue reading] about As Economic Winds Blow, So Do Whistleblowers: How to Protect Your Company Through Turbulent Times