On February 23, 2016, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray delivered prepared remarks (click link for full text) regarding CFPB regulation of credit unions to the Credit Union National Association. The crux of Director Cordray’s remarks was that the CFPB has affirmatively decided not to exclude credit unions from CFPB…
On March 1, 2016, the Fourth Circuit refused to re-hear a February 2, 2016, decision in Hayes v. Delbert Services Corporation (Docket No. 15-1170). In that decision, the Fourth Circuit reversed an Eastern District of Virginia’s decision upholding an arbitration clause on the ground that the clause was, in actuality,…
On February 19, the Federal Reserve noticed an information collection regarding recent changes to Regulation Z. The Notice (81 Fed. Reg. 8492) explains that the Federal Reserve is planning to update Regulation Z to include a number of regulatory requirements implemented in the past three years—particularly those promulgated by the…
The U.S. Department of Housing and Urban Development (HUD) announced that it reached an agreement with a regional bank over a disparate treatment fair housing claim. HUD alleged that the bank engaged in racially discriminatory redlining by lending less in the majority-minority neighborhood of the East Side of Kansas City, Missouri….