On June 1, 2023, the Consumer Financial Protection Bureau along with Federal Reserve, OCC, FDIC, NCUA and FHFA (collectively, the “Agencies”) issued a Notice of Proposed Rulemaking seeking comment on rules to implement quality control standards for automated valuation models (AVMs) used by residential mortgage originators and secondary market issuers in determining the collateral worth of a mortgage loan that is secured by a consumer’s principal dwelling.
The Office of the Comptroller of the Currency (OCC) today reported the key issues facing the federal banking system in its Semiannual Risk Perspective for Spring 2023.
The 11th Circuit Court of Appeals has upheld a lower court’s decision that the Consumer Financial Protection Bureau did not follow the discovery process in a civil case.
SACRAMENTO – The Department of Financial Protection and Innovation (DFPI) announced today it has made significant progress growing its reach and impact in key areas affecting California consumers, two years into implementing one of the most expansive consumer financial protection laws in the nation.
On June 7, the U.S District Court for the District of Utah denied the CFPB’s motion for an award of monetary and injunctive relief, assessment of civil money penalties, and final judgment in an action taken against a group of Utah-based credit repair telemarketers and their affiliates (collectively, “defendants”).
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