On Monday, November 7, the Supreme Court heard arguments in two cases addressing when targets of enforcement actions can preempt agencies in federal court. If the justices’ questions are any indication, the Court appears prepared to recognize an expansive right to challenge the legality of a potential enforcement action.
loanDepot has formed a VA council to help military veterans and active-duty personnel overcome common misconceptions about achieving homeownership.
The NYDFS issued a proposed rule that will require New York banks to collect demographic and financial data with business credit applications.
On October 31, a Texas federal court ordered a stay in a Consumer Financial Protection Bureau (CFPB) enforcement action, pending the issuance of the Fifth Circuit mandate in Community Financial Services Association of America Ltd. v. CFPB, which declared the CFPB funding mechanism unconstitutional. In the enforcement action CFPB v. Populus Financial Group, Inc., the parties requested the stay since the mandate will control the resolution of key issues presented in the defendant’s pending motion to dismiss.
BOSTON — Massachusetts Attorney General Maura Healey today announced a settlement with a payment processing company over claims it assisted with the unlawful business practices of a debt settlement company that charged vulnerable consumers premature and inflated fees in violation of state and federal law.
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