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Showing 3 posts in Regulatory.

CFPB Issues New Mortgage Servicer Guidelines for Transferring Loans to a New Servicer

The Consumer Financial Protection Bureau (CFPB) recently published compliance guidanceeffective immediately—on the handling of information and documents during the transfer of a mortgage loan to a new servicer. Following related guidance issued in 2014 on these mortgage servicer transfers, CFPB supervisory examiners have continued to document weaknesses in servicer compliance management systems and violations of Regulation X, including inadequate policies and procedures for transferring loan information and documents in a timely and accurate manner that ensures uninterrupted continuation of required servicing functions. More ›

Interactive COVID-19 Regulatory Map for Consumer Financial Institutions

To assist consumer financial services lenders, servicers and investors, Hinshaw has developed an interactive tracker of state regulations related to the COVID-19 pandemic. The tracker documents actions by various state regulators, along with the limits imposed by states on foreclosures, evictions, and debt collections, and allows users to click on any state to view applicable provisions. We recommend adding the tracker to your browser bookmarks, as we will update it on a regular basis. More ›

Consumer Law Regulatory Insights: CFPB Symposia Series Discusses How Behavioral Economics Can Inform Regulatory Action

On September 19, 2019, the Consumer Financial Protection Bureau (Bureau) hosted the second in a series of scheduled symposia. After the first symposium, we evaluated the panel discussions that focused on the term "abusive" and whether the Bureau should disclose parameters surrounding its interpretation of the term. The September 19 symposium addressed how behavioral law and economics can inform regulatory action. The discussion consisted of two panels: first, an academic discussion of behavioral economics, while a second panel discussed how behavioral economics can inform regulatory action, or lack thereof, in the consumer financial services field. More ›

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