Posts tagged Real Estate Settlement Procedures Act.
It's finally here. Over the weekend, the Consumer Financial Protection Bureau's (CFPB) long awaited and oft delayed integration of the disclosures required by the Federal Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA) known as the TILA-RESPA Integrated Disclosure or "TRID" for short, became effective. TRID applies to most closed-end consumer credit transactions secured by real property. Specifically, TRID applies to those who did not close on their loans, or who applied for a loan, on or after Saturday October 3, 2015. For those covered, TRID means ...
Tags: burr forman, cfpb, Consumer Finance Litigation, Consumer Finance Litigation & Arbitration, Consumer Finance Litigation blog, Consumer Financial Protection Bureau, Federal Truth in Lending Act, Real Estate Settlement Procedures Act, respa, tila, TILA-RESPA Integrated Disclosure, TRID
On August 5, 2015, PHH Corp. ("PHH") won a stay of the $109M penalty handed down by Consumer Financial Protection Bureau ("CFPB") director Rich Cordray. Cordray's aggressive legal reasoning and the harsh penalties he imposed, in what was the first ever appellate decision in a CFPB enforcement action, have already sent shockwaves around the financial services industry. The case began as a CFPB enforcement action alleging that PHH had violated the Real Estate Settlement Procedures Act ("RESPA") by allegedly tying mortgage insurance referrals from PHH to agreements mortgage ...
Tags: Administrative Law Judge, ALJ, Consumer Financial Protection Bureau, Cordray, DC Circuit, dodd-frank, PHH, PHH Corp., Real Estate Settlement Procedures Act, respa, Rich Cordray, U.S. Court of Appeals for the District of Columbia Circuit, Wall Street Reform and Consumer Protection Act
Since the Constitution was ratified, 226 years ago, potential plaintiffs have been required to first establish that they have a "case or controversy" before a court can consider the merits of any legal claim. As the U.S. Supreme Court has phrased it, "the person seeking to invoke the jurisdiction of the court must establish the requisite standing to sue." Whitmore v. Arkansas, 495 U.S. 149, 154 (1990). There are three components of standing:
1) the plaintiff has suffered an "injury in fact" that is (a) concrete and particularized and (b) actual or imminent, not conjectural or ...
Tags: case and controversy, Fair Credit Reporting Act, fair debt collection practices act, fcra, fdcpa, Ninth Circuit Court of Appeals, Real Estate Settlement Procedures Act, respa, Robins v. Spokeo, tcpa, telephone consumer protection act, U.S. Supreme Court, “no injury” equals “no claim”