Appraisal

The government is asking the U.S. Supreme Court to review an appellate court decision that invalidated President Barack Obama’s 2012 recess appointments to the National Labor Relations Board. Richard Cordray was recess appointed to his position as head of the Consumer Financial Protection Bureau in the same manner as the NLRB appointees, and while Cordray is not mentioned in the case, the Supreme Court’s response could have an effect on his appointment as well. Read on for the details. Read on »

Outspoken Republicans in the House and Senate show no sign of backing down from a debate over the legitimacy of the 2012 recess appointment that placed Richard Cordray at the head of the Consumer Financial Protection Bureau. The leader of the Republican-controlled House Financial Services Committee banned Cordray from testifying before the committee on the agency’s semi-annual report. A Senate Republican lawmaker also refused to show when Cordray testified before the Banking Committee. Read on for the de... Read on »

A new report from the Congressional Research Service indicates a court ruling that invalidated three recess appointments to the National Labor Relations Board could have a serious impact on actions the Consumer Financial Protection Bureau has taken since Richard Cordray was appointed director. Read on for the details. Read on »

The Consumer Financial Protection Bureau will continue to grow in FY 2014, according to budget estimates released by the bureau. Even though the CFPB will be adding employees, the agency plans to spend less money in 2014 than it will in 2013. Read on to learn about the budget and the bureau’s goals for the next several years. Read on »

Overhauling the Consumer Financial Protection Bureau’s leadership structure, improving regulatory coordination and repealing the Volcker Rule are among the items included in a broad package of Dodd-Frank tweaks suggested by the U.S. Chamber of Commerce. Read on to learn about the chamber’s new “Fix, Add, Replace Agenda” for financial reform. Read on »

The Consumer Financial Protection Bureau released several important rules in January, including a pair of appraisal-related rules setting forth some new obligations for lenders. John Redding, a partner with Buckley Sandler LLP, discussed key aspects of the new rules during the recent Independent Community Bankers of America Convention and Techworld in Las Vegas. Read on for the details. Read on »

Fifty-two Democrats and two independent Senators signed a letter supporting President Barack Obama’s decision to renominate Richard Cordray as director of the Consumer Financial Protection Bureau. Republicans vowed to block Cordray’s confirmation unless changes are made to the CFPB. Read on for the details. Read on »

The Consumer Financial Protection Bureau’s enforcement chief, Steven Antonakes, will serve as the bureau’s interim deputy director following the Jan. 31 departure of Deputy Director Raj Date, the bureau said. Read on to learn about Date’s work at the CFPB and Antonakes’ new responsibilities. Read on »

The Consumer Financial Protection Bureau finalized several important mortgage rules ahead of a Jan. 21 deadline as required by Title XIV of the Dodd-Frank Act. The bureau released eight final rules between Jan. 10 and Jan. 20, and these rules will shape the housing finance sector for years to come. Read on for a brief summary of each rule including key revisions and exemptions. You’ll also find the implementation date for each rule and links to more information. Read on »

Lenders will be required to provide mortgage applicants with free copies of all appraisals and other home-value estimates under final rules officially issued on Jan. 18 by the Consumer Financial Protection Bureau. The rule clarifies what constitutes a “valuation” for the purposes of the disclosure requirement. The rule also discusses what creditors must do when they receive multiple copies of a valuation. Read on for the details. Read on »