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Mortgage closing fees are in the hot seat. Here's why feds are looking into them.
CBS News via Yahoo Finance· 7 days agoThe MBA said lenders worked with the CFPB a decade ago on making sure mortgage fees were laid out...
The U.S. wants to crack down on payday loans. Here’s what you need to know.
Washington Post via Yahoo Finance· 1 day agoAn earlier version of this article misspelled the last name of former GOP congressman Mick Mulvaney....
Fifth Circuit Rules SEC Exceeded Its Authority in Adopting Private Fund Advisers Rule | JD Supra
JD Supra· 5 days ago...Court’s interpretation of the SEC’s rule-making authority over private fund sponsors under Section 206(4) and 211(h) of the Investment Advisers Act of 1940 (the Advisers Act) and the Dodd-Frank Wall Street and Consumer Reform Protection Act of 2010 (the Dodd-Frank Act) points to an unsuccessful...
A reply to Professor Levitin’s arguments as to why the Fed, notwithstanding its losses, can still...
JD Supra· 3 days agoYesterday, I published a blog post highlighting the flaws in the arguments made by Professor Jeff Sovern in his recent article in the Consumer Law & Policy Blog for why the Fed, notwithstanding ...
A reply to Professor Sovern’s arguments as to why the Fed, notwithstanding its losses, can still...
JD Supra· 4 days agoAlthough neither the CFPB, the Federal Reserve Board, nor the Treasury has responded to Professor Emeritus Hal Scott’s op-ed on May 20 in the Wall Street Journal, my interview with Professor ...
Federal Court Scraps SEC Private Fund Advisers Rule | JD Supra
JD Supra· 4 days agoIn a victory for the private funds industry, the United States Court of Appeals for the Fifth Circuit vacated the SEC’s recently adopted Private Fund Adviser Rule on June 5, 2024. In other words ...
John Kennedy Tells Chief Biden Regulator Point Blank That His Agency Is ‘Operating Illegally’
IJR· 2 days agoThe Dodd–Frank Wall Street Reform and Consumer Protection Act mandates that the CFPB operate using funds from the “combined earnings of the Federal Reserve ...
Fifth Circuit Vacates SEC Rule Regulating Private Funds Advisers | JD Supra
JD Supra· 4 days agoIn a highly anticipated opinion, the Fifth Circuit announced on June 5, 2024 its decision[1] to vacate rules adopted by the Securities and Exchange Commission (SEC or the Commission) in 2023 ...
Will Supreme Court Ground Tremors Cause National Bank Preemption Tsunami? | JD Supra
JD Supra· 2 days agoOn May 30th, an unanimous Supreme Court ruled that the Second Circuit needed to take another shot at evaluating whether Bank of America, a national bank, can pre-empt a New York state law requiring ...
Director Rohit Chopra gives the back of his hand to argument that CFPB is unlawfully funded out of...
JD Supra· 2 days agoIt took about an hour for someone on the Senate Finance Committee during its hearing today to mention the “elephant in the room” — namely, the fact that the CFPB is only allowed under