Monthly Archives: February 2014

Student Loan Landscape Change Effective March 1, 2014

The Consumer Financial Protection Bureau (“CFPB”) will begin supervising “larger participants” in the student loan servicing market effective March 1. In December 2013, the CFPB issued its final rule regarding supervision of “larger participants,” which are defined to include an account volume of greater than $1 million.  Account volume is tied to the number of […]

Federal Court Addresses New Mortgage Regulation

In one of the first decisions regarding the new regulations promulgated by the Consumer Financial Protection Bureau (“CFPB”) pursuant to the Dodd-Frank Act, a court denied plaintiff injunctive relief. In Cataldi v. New York Community Bank, No. 1:13-CV-3972 (N.D. Ga. Feb. 3, 2014), the plaintiff alleged that the defendant servicers failed to perform certain actions […]

Take Note – OCC Updates Mortgage Banking Handbook

On February 7, 2014, the Office of the Comptroller of the Currency (“OCC”) updated the Comptroller’s Handbook, which replaces the 1996, 1998, and 2008 versions that provided guidance for banks and thrifts.  This new document explains the specific policies and procedures that will be reviewed as part of examinations, as well as information technology requirements.  […]