The Consumer Financial Protection Bureau (CFPB) has offered its
new mortgage servicing rule for public
inspection today, meaning it is scheduled to be published in the
Federal Register on October 19, 2016. The CFPB informally
released the rule on its website in August.
The effective date of the rule is tied to its publication date,
so the bulk of its requirements (with some exceptions) will take
effect in 12 months, on October 19, 2017.
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On November 1, 2016, the SEC's DERA published additional economic analysis setting forth the methodology used to analyze certain comments received on the SEC's proposed rule regarding the use of derivatives by registered funds and business development companies.
The Consumer Financial Protection Bureau ("CFPB"), in its most recent set of Supervisory Highlights, provides a bit of insight into how it interprets its Ability to Repay Rule for loans that are not Qualified Mortgages ("QMs").
The US District Court for the Central District of California (the Central District) has recently rendered two decisions with "true lender" implications of potential significance to the marketplace lending industry...
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