Category Dodd-Frank Act

House Passes Financial CHOICE Act Aimed at Rolling Back Dodd-Frank

Yesterday, the United States House of Representatives passed the Financial CHOICE Act. It now goes to the Senate, where commentators predict it has little chance to pass in its current form. If you’d like to read more about the act and the House’s vote, you can find an article from The Hill here. By Nicholas […]

DC Federal Appeals Court Grants CFPB’s Request for a Hearing Before the Full Court

While the Trump administration looks to pass legislation aimed at Dodd-Frank and the Consumer Financial Protection Bureau (“CFPB”), a lawsuit involving the extent of the CFPB’s authority and whether it can impose a $109 million penalty on a group of companies is continuing to be fought in a D.C. courtroom. In June 2015, PHH Corporation […]

ICYMI: President Trump Signs Executive Order on Core Principles for Regulating the United States Financial System

If you haven’t been paying any attention for the last two weeks, you may have missed that on February 3, 2017 President Trump signed an Executive Order setting forth his administration’s core principles for regulating the United States’ financial system. The order seems to be the first step in fulfilling his campaign promise to change […]

CFPB Issues Adjustments of Certain Thresholds and Penalties

Recently, the Consumer Financial Protection Bureau (“CFPB”) issued its annual adjustments to the dollar amounts of various thresholds under the Truth in Lending Act (“TILA”), effective January 1, 2017. In addition, the CFPB corrected a calculation error pertaining to the 2016 subsequent violation penalty safe harbor fee. Specifically, the CFPB’s action adjusted the dollar amounts […]

Federal Financial Agencies Finalize Dodd-Frank Standards for Appraisal Management Companies

As required by the Dodd-Frank Act, the federal financial agencies (OCC, Federal Reserve System, FDIC, CFPB, FHFA) recently adopted a final rule regarding minimum requirements for state supervision of appraisal management companies (“AMCs”). An AMC is an entity that serves as an intermediary for, and provides certain services to, creditors. In some instances, creditors and […]