States

The U.S. Supreme Court was asked to rehear arguments regarding the applicability of federal preemption standards to state laws requiring banks to pay interest on mortgage escrow accounts. The request highlighted the split among federal judges over their interpretations of the preemption standard. Read on »

With federal agencies rolling back rules and guidance that governed fair lending compliance while states are ramping up regulation and enforcement in the fair lending space, calibrating compliance risk mitigation strategies accordingly is a daunting task. A panel of fair lending experts recently discussed the rapidly shifting compliance priorities. Read on »

Nearly two years after the Supreme Court raised the bar for preemption arguments with its ruling in Cantero v. Bank of America, the U.S. Second Circuit Court of Appeals contradicted the high court and two others with its ruling on New York’s law requiring interest payments on mortgage escrow accounts. Read on »

As federal oversight pulls back, banks and mortgage lenders face a more scattered compliance landscape shaped by state regulators and attorneys general (AGs) working to pick up the pieces. Read on »

Appraisers generally must comply with the standards within the Uniform Standards of Professional Appraisal Practice (USPAP). Timothy Hansen, a Certified General appraiser and owner of Blue Ridge Valuation Services, sat down with Dodd Frank Update to discuss in detail how to ensure a USPAP-compliant appraisal. Read on »

As the Consumer Financial Protection Bureau and other federal financial regulators pull back from some areas of supervision, state regulators are stepping up to fill the void in many respects. Dodd Frank Update took note of multiple expert perspectives on what some states are doing to align their efforts. Read on »

President Donald Trump signed two executive orders on March 13 aimed at spurring regulatory policy changes to increase mortgage credit access and affordable housing construction. Dodd Frank Update turned to Garris Horn LLP Co-Managing Partner Rich Horn for expert analysis. Read on »

West Capital Lending filed suit against loanDepot, claiming the nonbank mortgage lender violated multiple federal and state laws with its compensation practices. Dodd Frank Update obtained insight from a former Consumer Financial Protection Bureau attorney who helped write one of the regulations the company is accused of violating. Read on »

Establishing a national framework for digital assets has proven to be a tall order. Thomas Grundy of Wolters Kluwer spoke with Dodd Frank Update about what is being done to address the fragmented set of state laws shaping this expanding portion of the financial ecosystem. Read on »

The U.S. District Court for the District of Massachusetts ended years of litigation over a lawsuit against a credit-repair service provider by approving a stipulated final judgment and order proposed by the Consumer Financial Protection Bureau and the Massachusetts attorney general. Read on »