On August 22, the CFPB filed an opposition to a motion made by a group of intervenors seeking to expand the scope of a preliminary injunction issued by the U.S. District Court for the Southern District of Texas, which enjoined the CFPB from implementing its Small Business Lending Rule.
Last month, the FDIC Board of Directors voted to propose a rule that would reduce the risk of bailouts and financial crises stemming from large bank failures.
Well, it was bound to happen. Statistically speaking, anyway. For the first time I can remember in nearly 15 years of tracking these numbers, we had a 0.0% month-over-month change in one of the statutes (TCPA). Relevant? No. Meaningful? Also no. But interesting to me nonetheless, and since I write these things, it gets top billing.
The CFPB has turned its sights back to Section 8 of the Real Estate Settlement Procedures Act (RESPA), issuing a pair of consent orders on August 17, 2023, against a large independent mortgage banker and a real estate brokerage firm, over alleged kickbacks for mortgage referrals.
A panel of the U.S. Court of Appeals for the Ninth Circuit recently held that because of the timing of a filing in a collection action against a student loan borrower, his claim that debt collectors violated the Fair Debt Collection Practices Act (FDCPA) was not time-barred, reversing the lower court’s dismissal.
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