The CFPB adopted a final rule designed to provide relief to smaller firms by extending the temporary reporting data threshold under the Home Mortgage Disclosure Act.
CFPB-revised policy guidance on no-action letters, on the CFPB Product Sandbox and on the Trial Disclosure Program was published in the Federal Register.
The CFPB and the State of Arkansas proposed to settle a complaint against brokers for violations of the Consumer Financial Protection Act and the Arkansas Deceptive Trade Practices Act.
The CFPB highlighted the results of an analysis comparing the uses of traditional and non-traditional sources of information by consumers in the credit process.
A Colorado state court determined that securitization trusts that acquire marketplace lender loans originated to Colorado consumers are subject to Colorado jurisdiction.
FINRA reminded broker dealers of rules that require firms to provide information upon request to any person that voices an interest in a transaction involving the securities of foreign private issuers.
Cadwalader attorneys reviewed a Colorado case concerning marketplace lending in which certain securitization trusts that had acquired the Defendant's loans were charged for violations of the state's Uniform Consumer Credit Code.
The Consumer Financial Protection Bureau proposal to streamline its no-action letter process and create a CFPB Product Sandbox was published in the Federal Register.
