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Subject to Inquiry

THE LATEST ON GOVERNMENT INQUIRIES AND ENFORCEMENT ACTIONS

Government Investigations and White Collar Litigation Group

Tag Archives: lending

Compliance, Financial Institution Regulation

CFPB Proposes Rule on Small Dollar Lending

On June 2, 2016, the Consumer Financial Protection Bureau (“CFPB”) released its proposed rule on small dollar lending during its scheduled field hearing in Kansas City, Missouri. The controversial proposed rule will affect payday loans, single-payment vehicle title loans, deposit advance products, and certain-high cost loans. Under the proposed rule, lenders would be responsible for making… Continue Reading
Financial Institution Regulation

CFPB Announces Results of eClosing Pilot Project

On August 5, 2015, the CFPB published a report titled “Leveraging technology to empower mortgage consumers at closing,” which concluded that borrowers can benefit from electronic closings or “eClosings” – that is, closings in which a borrower can view and sign documents electronically. According to CFPB Director Richard Cordray, “Using the power of technology has… Continue Reading

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