Regulatory Relief Bill Passes Congress – Is Mortgage Lending Freedom Ahead?
Change is coming to the mortgage industry in the form of lessened restrictions for many community banks, along with greater consumer protections. The Economic Growth, Regulatory Relief and Consumer Protection Act—a bill rolls back many Dodd-Frank Wall Street Reform...
Wells Fargo Fined $1 Billion for Abusive Insurance, Mortgage Practices
The government has handed down a $1 billion penalty to Wells Fargo for abusive consumer practices related to its administering of auto insurance and extensions on mortgage rate locks. In addition to the fine, the bank has been ordered to remediate affected consumers...
Industry Praises House Passage of TRID Improvement Bill
The housing industry is applauding the House passage of the TRID (TILA-RESPA Integrated Disclosure) Improvement Act of 2017 (H.R. 3978) that aims to correct the disclosure of title insurance premiums, which are inaccurate in the majority of states. The bill, which was...
CFPB ‘Constitutional’ After Appeals Court Ruling
An appeals court on Wednesday upheld the constitutionality of the Consumer Financial Protection Bureau’s (CFPB) organizational structure. The agency, which has been at the center of controversy in the era of Trump, was deemed unconstitutional in a 2016 ruling....
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