Watchdog agency reminds mortgage lenders what it seeks under new rules 
Published: June 12, 2013
Tags: CFPB, Consumer Financial Protection Bureau, ECOA, Equal Credit Opportunity Act, TILA, Truth in Lending Act
In case mortgage lenders and financial institutions needed reminding, the Consumer Financial Protection Bureau has issued an update on what its examiners will be looking for under new mortgage rules.
TILA plaintiffs needn’t sue to preserve rescission right
Published: February 8, 2013
Tags: consumer protection, rescission, TILA, Truth in Lending Act
Home borrowers were not required to formally file suit before the Truth in Lending Act’s three-year limitation period expired in order to preserve their right of rescission, the 3rd U.S. Circuit Court of Appeals has ruled.
Fees charged for tax refund checks violated TILA
Published: January 29, 2013
Tags: consumer protection, TILA, Truth in Lending Act
A “handling fee” charged by a bank in connection with tax refund checks constituted an undisclosed finance charge that violated the federal Truth In Lending Act, the California Court of Appeal has ruled in affirming a $1.3 million judgment.
New federal study makes case for student loan relief
Published: August 3, 2012
Tags: Bankruptcy Code, CFPB, Consumer Financial Protection Bureau, Department of Education, Dodd-Frank Wall Street Reform and Consumer Protection Act, federal loans, student loan debt, student loans, TILA, Truth in Lending Act
A new federal study recommends changes in consumer protection and bankruptcy law to provide relief for those Americans saddled with a share of the country’s $1 trillion in student loan debt, largely blaming private lenders for the problem.
TILA plaintiffs needn’t plead ability to repay loan
Published: August 1, 2012
Tags: Regulation Z, rescission, TILA, Truth in Lending Act
Home borrowers were not required to plead that they had the ability to repay their loan in order to invoke their rescission rights under the federal Truth in Lending Act, the 10th Circuit has ruled in reversing a dismissal.
TILA rescission claim time-barred
Published: February 10, 2012
Tags: rescission, statute of repose, TILA, Truth in Lending Act
The Truth in Lending Act’s statute of repose extinguished a borrower’s right to rescission three years after the consummation of her loan – regardless of whether she provided notice of her rescission within that period, the 9th Circuit has ruled in affirming a dismissal.
Borrowers’ rescission rights may have been extended
Published: January 3, 2012
Tags: consumer protection, rescission, TILA, Truth in Lending Act
Home borrowers may have been entitled to a three-year period to rescind their loan based on the lender’s failure to properly “deliver” the notice of rescission rights required under federal law, the 9th Circuit has ruled in reversing a dismissal.
‘Ability-to-pay’ proposals for Regulation Z open for comment
Published: May 17, 2011
Tags: Dodd-Frank Wall Street Reform and Consumer Protection Act, mortgage loans, mortgages, Reg Z, Regulation Z, TILA, Truth in Lending Act
The Federal Reserve Board has requested public comment on proposed revisions to Regulation Z that would require lenders to determine a consumer’s ability to repay a mortgage before making a loan.
Lender not liable for ‘yield spread premium’
By:
Pat Murphy
Published: December 7, 2010
Tags: consumer protection, Home Ownership and Equity Protection Act, TILA, Truth in Lending Act, yield spread premium
A home lender didn’t trigger the protections of federal consumer protection law when it paid a “yield spread premium” to a mortgage broker, the Louisiana Supreme Court has ruled in reversing judgment.
Borrowers have extended right to rescind mortgage
By:
Pat Murphy
Published: March 26, 2009
Tags: TILA
Homeowners had an extended, three-year right to rescind their mortgage because their lender failed to provide clear notice of their three-day loan cancellation rights under federal law, the 8th Circuit has ruled in reversing a summary judgment.
