Following the recent oral arguments in the D.C. Circuit Court of Appeals for the PHH Corp. v. Consumer Financial Protection Bureau case, many in the industry are hopeful that the court will decide in PHH’s favor. The decision is not likely to come out for a while, but even then, the case is likely far from over. See why here.
Under the TILA-RESPA Integrated Disclosure (TRID) rule placing liability for violations of the rule squarely on lenders’ shoulders, both lenders and settlement agents have wondered how lenders will minimize their risks. To clarify the law in this area, we sat down with former CFPB attorney Richard Horn to discuss lender liability under TRID. See what he had to say here.
Consumer Financial Protection Bureau (CFPB) Director Richard Cordray responded to an inquiry from a pair of House representatives on credit union and community bank exemptions from CFPB rulemaking, saying the bureau has taken steps to provide regulatory relief to small institutions. Read on for more details.
PHH Corp. and the Consumer Financial Protection Bureau went head-to-head at the D.C. Circuit Court of Appeals on Tuesday morning during oral arguments before a panel of three appellate court judges. The oral arguments centered on the company’s RESPA case, as well as the constitutionality of the bureau. See our update to the PHH case, as well as details of the oral arguments, here.
The Consumer Financial Protection Bureau turning its eye toward student loan servicers and is making an effort to reform student loan repayment options and disclosures for loan servicers to provide to borrowers. The bureau recently released a new “Payback Playbook” prototype which outlines a path to affordable payments for borrowers trying to avoid “student debt distress.” See more about the prototype here.
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