The last executive of the Morris and Stewart families that founded and ran Stewart Title since its inception in 1893 has announced his departure. Matthew Morris, the president of Stewart Title and former CEO, announced his departure from the company, effective immediately.
Seila Law’s dispute with the Consumer Financial Protection Bureau (CFPB) over a civil investigative demand (CID) is not the proper case to decide the constitutionality of the bureau.
That’s according to the amicus brief filed Jan. 15 by court-appointed attorney Paul Clement, who will argue in support of the CFPB’s structure March 3 before the Supreme Court since the Department of Justice (DOJ) has chosen not to defend the constitutionality of the agency.
Sens. Catherine Cortez Masto (D-Nev.) and Sherrod Brown (D-Ohio) are leading efforts calling on the Office of Inspector General to investigate the Consumer Financial Protection Bureau (CFPB) low levels of restitution.
The senators recently wrote to Inspector General Mark Bialec, urging him to open an investigation into four recent consumer fraud cases in which CFPB Director Kathy Kraninger provided no or what they deemed to be inadequate restitution to harmed consumers.
The Consumer Financial Protection Bureau (CFPB) has agreed not to bring supervisory or enforcement actions against Bank of America for its funding arrangements with Department of Housing and Urban Development (HUD) housing counseling agencies (HCAs) – even if the arrangements could be construed as referrals under RESPA Section 8 (a).
The bureau recently granted Bank of America’s request for a no-action letter (NAL)
Read on for details from Bank of America’s NAL – the first under the bureau’s revised NAL policy.
The Consumer Financial Protection Bureau (CFPB) has announced a new taskforce that will examine the existing legal and regulatory environment facing consumers and financial services providers.
The Taskforce on Federal Consumer Financial Law will focus on identifying gaps in knowledge that should be addressed through research, ways to improve consumer understanding of markets and products, and potential conflicts or inconsistencies in existing regulations and guidance.
Leandra English, the former deputy director of the Consumer Financial Protection Bureau (CFPB), was recently announced as special policy advisory at the New York Department of Financial Services. Former CFPB Director Richard Cordray’s second-in-command may be best known for being involved in a dispute with former acting director Mick Mulvaney over who was to lead the bureau after Cordray’s departure. Read on for more details.
The Michigan Department of Insurance and Financial Services recently issued letter 2020-CU-01 to the Board of Directors and Management of Michigan State-Chartered Credit Unions regarding financial services to the Marijuana Industry. Attached to the letter was a recent memorandum on Financial Services and the Michigan Marijuana Industry. Read on for more information.
The current owner of property in Pennsylvania brought suit against Pennsylvania state court judges, the Court of Common Pleas of Philadelphia County, the tax revenue bureau and chairwoman Nancy Kammerdeiner, alleging that the city of Philadelphia began foreclosure proceedings despite providing the city with accord and satisfaction. She argued she was unaware of the delinquent taxes on the property when she purchased it in 2007. Read on for more details.
The Alabama Legislature is considering a bill to expand the Alabama Residential Mortgage Satisfaction Act to require recordation of satisfaction to include mortgages securing commercial agricultural properties. It would rename the act the Alabama Residential and Agricultural Mortgage Satisfaction Act. Read on for more details.