Category: Dodd-Frank

MBA Members and Industry Groups Request Changes to Loan Originator Compensation Rule

Beginning the Conversation, but No Imminent Changes. On October 17, 2018, nearly 250 member companies of the Mortgage Banker’s Association (MBA) submitted a letter (the “Letter”)[1] to the Bureau of Consumer Financial Protection (the “Bureau”) urging “the Bureau. . . to make changes to its Loan Originator Compensation (LO Comp) rule necessary to help consumers [..]

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Supreme Court Holds Class Action Waivers in Arbitration Agreements Are Enforceable

In Epic Systems Corp. v. Lewis the United States Supreme Court reviewed three circuit court cases involving employer-employee arbitration agreements.[1] In each case, the main issue was whether employees and employers should be allowed to agree that any dispute between them will be resolved through arbitration, or whether employees should be permitted to bring class actions no [..]

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Dodd-Frank Reform Highlights for Mortgage Bankers

Congress recently passed the Economic Growth, Regulatory Relief, and Consumer Protection Act (the “Act”), and on May 24, 2018, President Trump signed the Act into law. The Act is not a widespread repeal of Dodd-Frank, but it does provide some welcome regulatory relief to financial institutions and changes to federal law concerning consumer mortgages. Below [..]

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The Future of the CFPB and its Rulemaking Authority in 2017

By Steven J. Kubik Last Friday, you may have seen some variation of the following headlines: “Trump to Take Steps Rolling Back Financial Regulations” or “Trump Moves to Undo Dodd-Frank Law.” Whether you are excited or terrified by these headlines, you likely have questions regarding the changes that this new year and new Presidential administration [..]

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