Posts from Ethan Mark
CFPB Considers Rules to Simplify Mortgage Points, Fees and Loan Originator Compensation
Consumer Protection The Consumer Financial Protection Bureau, or CFPM, outlined rules it is considering that would simplify mortgage points and fees and bring greater transparency to the mortgage loan origination market. These rules, which the CFPB expects to propose this summer and finalize by January 2013, are meant to make it easier for consumers to understand mortgage [...] Read more →
SEC Approves Interpretive Notice on the Duties of Underwriters to State and Local Government Issuers
Municipal Advisors The SEC has approved an interpretive notice of the MSRB under which underwriters of municipal securities will be required to disclose to their state and local government clients... Read more →
CFPB Issues Guidance Regarding Service Providers
Consumer Protection The Consumer Financial Protection Bureau, or CFPB, has released a bulletin clarifying that financial institutions under Bureau supervision may be held responsible for the actions... Read more →
CFPB Outlines Borrower-Friendly Approach to Mortgage Servicing
Consumer Protection The Consumer Financial Protection Bureau, or CFPB, has outlined rules it is considering that it believes will help protect mortgage borrowers from being hit by costly surprises or... Read more →
Fed Seeks Comment on Requirements for Determining Whether a Company is Predominantly Engaged in Financial Activities
Banking The Federal Reserve Board has requested comment on a proposed amendment to the Board’s Notice of Proposed Rulemaking, or NPR, issued February 11, 2011, to establish... Read more →
SEC Report on Implementation of Organizational Reform
Public Companies and Securities The SEC staff has issued a report on the implementation of organizational reform pursuant to Section 967 of the Dodd-Frank Act. The purpose of the report to Congress is to... Read more →
CFPB Begins Taking Complaints on Bank Accounts
Banking, Consumer Protection The Consumer Financial Protection Bureau, or CFPB, has begun accepting consumer complaints about bank accounts, including checking accounts, savings accounts, CDs, and related... Read more →
MSRB Issues Proposal to Restrict Underwriters’ Provision of Bondholder Consent
Municipal Advisors The Municipal Securities Rulemaking Board, or MSRB, has published a draft proposal concerning circumstances under which municipal bond underwriters would violate their duty to... Read more →
CFPB Examines Payday Lending
Consumer Protection The Consumer Financial Protection Bureau, or CFPB, is convening a hearing to gather information and input on the payday lending market. The CFPB has also published its Short-Term,... Read more →
FDIC Board Approves Final Rule Requiring Resolution Plans for Large Depository Institutions
Banking The FDIC has approved a final rule requiring an insured depository institution with $50 billion or more in total assets to submit to the FDIC periodic contingency plans for... Read more →