Monthly Archives: April 2013

Mortgage Insurers Latest Focus of Heightened Mortgage Industry Scrutiny

Announcing settlements with four national mortgage insurers, the Consumer Financial Protection Bureau (“CFPB”) continues to pick up steam on certain enforcement activities.  Importantly, the companies at issue in this instance were not big banks that the public generally associates with CFPB enforcement practices.  The Dodd-Frank Act consolidated into the CFPB certain enforcement activities previously spread […]

Bill Introduced to Require Study of Basel III Impact on Community Banks

Senator Joe Manchin (D-W.Va.) and Sen. Dean Heller (R-Nev.) have introduced legislation supported by the American Bankers Association that requires a comprehensive study of new capital proposals’ impact on community banks and other institutions before any final rules can be issued.  The Basel Committee on Banking Supervision’s third banking supervision accords (Basel III) have come […]

New Small Entity Guidance from the CFPB

If ever small entities questioned whether they would need to consider the Consumer Financial Protection Bureau’s (“CFPB”) new regulations pertaining to mortgage origination and servicing, now they know. The CFPB recently issued two guides for “small entities,” which “makes the content more accessible and consumable for a broad array of industry constituents, especially smaller businesses […]

North Carolina Modernizes Banking Laws

North Carolina’s banking laws have been comprehensively updated for the first time in 80 years and provide the state with one of one of the most modern banking systems in the country. Effective October 1, 2012, the bipartisan legislation is a product of compromise and joint effort on the part of legislators, banks and consumer […]