Regulatory Update

by Jennifer Monty Rieker, Esq. On July 21, 2011 the Consumer Financial Protection Bureau (CFPB) officially launched.  Signed into law in July 2010, the CFPB is a division of the Federal Reserve, but is completely independent of the Federal Reserve’s Board of Governors. The CFPB is tasked with enforcement of the Fair Debt Collection Practices…

Recent Updates to Regulation Z

The following is an article reprinted with permission from the upcoming Winter 2010 edition of The WWR Letter:  Recent Updates to Regulation Z By: V. Kelly Mulholland, Associate Recently, amendments to Regulation Z, the implementing regulation for the Truth-in-Lending Act (“TILA”) and the Home Ownership and Equity Protection Act (“HOEPA”), became effective. The amendments added a new…

New HOEPA Rule

The following is an article reprinted with permission from the upcoming Winter 2010 edition of The WWR Letter:  New HOEPA Rule By: David A. Wolfe, Associate In 1994, Congress enacted the Home Ownership and Equity Protection Act (“HOEPA”), responding to allegations of abusive lending practices in the home-equity lending market. HOEPA applies to closed-end loans on owner-occupied…