Attorney General Paxton has joined a Massachusetts-led multistate comment letter to the Federal Trade Commission (FTC) conveying the need for stronger privacy protections related to commercial surveillance and data security.
The Servicemembers Civil Relief Act (SCRA) provides important legal and financial protections to active duty servicemembers. These protections include the ability to reduce the interest rate on any pre-service obligations or liabilities to a maximum of 6 percent. Existing literature suggests that the interest rate reduction benefit is underutilized. To address this information gap, this report seeks to quantify, for the first time, the use of the SCRA interest rate reduction benefit.
WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) released research revealing that Reserve and National Guard members called to active duty are paying an extra $9 million in interest every year because they are not always receiving the benefit of their right to rate reductions under the Servicemembers Civil Relief Act.
On September 23, 2022, the United States District Court for the District of Columbia issued an order vacating the 2020 Home Mortgage Disclosure Act (HMDA) Final Rule as to the loan volume reporting threshold for closed-end mortgage loans. The decision means that the threshold for reporting data on closed-end mortgage loans is now 25 loans in each of the two preceding calendar years, which is the threshold established by the 2015 HMDA Final Rule, rather than the 100 loan threshold set by the 2020 HMDA Final Rule.
Consumer Financial Protection Bureau Director Rohit Chopra will testify on Capitol Hill next month in a hearing before the House Financial Services Committee (HFSC) just before leadership in the chamber will switch over to a Republican majority.
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