Banking Update

In a December 2014 article, we reported that based on the oral arguments before the U.S. Supreme Court in Jesinoski v. Countrywide Home Loans, Inc., Supreme Court observers thought the final decision would favor borrowers over mortgage lenders. That prediction has proven prescient, but the outcome for mortgage lenders was […]

Late last month, Baird Holm attorneys attended the American Conference Institute’s 11th National Forum on Prepaid Card Compliance (the “Conference”). Below is a summary of key discussions and points of interest overheard at the Conference. CFPB’s Proposed Rule Continues to Dominate Conversation Not surprisingly, the Conference’s hottest topic of conversation […]

In banking, bigger is better… up to $10 billion that is. That was the main theme at the 2015 Bank Director “Acquire or Be Acquired” Conference in Scottsdale, Ariz., which brought together hundreds of bankers and deal makers for three days. With its large number of relatively small community banks, […]

How do borrowers rescind their mortgage loans under the Truth in Lending Act, 15 U.S.C. § 1635 (“TILA”)? By sending notice to the lender within three years of the transaction. That seems to be the majority of the Justices’ views based on oral arguments on November 4, 2014, in Jesinoski […]

The CFPB recently released its Fall 2014 Supervisory Highlights report, which details recent findings from CFPB exams of providers of consumer financial products and services. One of most cited regulatory issues continues to be violations deemed unfair, abusive, or deceptive acts or practices (UDAAP). The report highlighted those found in […]