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Orrick, Buckley combine to form financial services and fintech law powerhouse
Buckley Sandler Expands New York Office With Addition of Financial Services Attorney
WASHINGTON, DC and NEW YORK, NY--(Mar 12, 2012) - Buckley Sandler LLP , a leading financial services and criminal and civil enforcement defense law firm with offices in Washington, DC, Los Angeles and New York, is proud to announce that Philip M. Cedar has joined the firm as Counsel in its New York...
In The NewsFederal Circuit Courts Issue More Rulings Enforcing Arbitration Agreements
On March 7, the U.S. Court of Appeals for the Ninth Circuit held that a national bank could compel arbitration of a dispute involving student loans. Kilgore v. KeyBank, Natl Assn, No. 09-16703 , 2012 WL 718344 (9th Cir. Mar. 7, 2012). A group of students filed a class action in state court...
InfoBytesFederal Reserve Releases Additional Servicer Action Plans
On March 8, the Federal Reserve Board released action plans for three additional supervised financial institutions. The plans are designed to correct alleged deficiencies in mortgage servicing and foreclosure procedures. The release also included an additional engagement letter between one...
InfoBytesCFPB Director Addresses State Attorneys General, Spotlight on Payday Lenders, Debt Collectors, and Servicing Rules
The National Association of Attorneys General (NAAG) met this week in Washington, DC. Among the topics covered at the annual meeting was the ongoing and future coordination between federal and state law enforcement with regard to financial services. CFPB Director Cordray, a former state attorney...
InfoBytesNew York Extends Emergency Rules Regarding Mortgage Originator Licensing
On March 7, the New York Department of Financial Services extended through May 16, 2012 existing emergency rules regarding the licensing of mortgage loan originators. New York intends to adopt the rules as permanent at some future date.
InfoBytesFHFA IG Recommends Improved Freddie Mac Servicer Oversight
On March 7, the Inspector General (IG) of the FHFA published a report related to the FHFA’s supervision of Freddie Mac’s controls over mortgage servicing contractors. The report found areas in which the FHFA could enhance its supervision of Freddie Mac’s controls over those contractors...
InfoBytesFHFA Provides Strategic Plan Implementation Scorecard, Announces Executive Compensation Reductions
On March 9, the Federal Housing Finance Agency (FHFA) released a “scorecard” that details the implementation of its recently released strategic plan for Freddie Mac and Fannie Mae. The scorecard provides specific measures Fannie and Freddie will take in executing the strategic plan. It also...
InfoBytesFTC Expands Enforcement Action Against Tribe-Affiliated Payday Lenders
On March 7, the FTC announced the expansion of an existing enforcement action against several payday lending firms and their owner alleging that they sought to force borrowers throughout the country to travel to South Dakota to appear before a tribal court that did not have jurisdiction over their...
InfoBytesCFPB Releases SAFE Act Exam Procedures
On March 7, the CFPB updated its Supervision and Examination Manual with SAFE Act examination procedures . The procedures set forth the background and requirements of the SAFE Act, and its federal implementing regulations, for use in examining federally regulated depository institutions for...
InfoBytesWhite House Announces More Housing Initiatives
On March 6, President Obama presented additional programs designed to provide relief to homeowners. In advance of the announcement, the White House released a fact sheet outlining the programs, which attempt to reach FHA borrowers and servicemembers and veterans. With regard to FHA borrowers, the...
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