Since last November, when Mick Mulvaney became acting director of the agency formerly known as the Consumer Financial Protection Bureau, he’s steered it away from many of the practices his predecessor had embraced. Questions have arisen about how long Mulvaney can serve in that capacity, which is supposed to be temporary. The answer: until 2025, at the latest. Continue Reading Mulvaney Could Lead BCFP Until 2025

 

For the past five years, the Consumer Financial Protection Bureau has accused a Kentucky law firm, Borders & Borders, of paying illegal kickbacks. Last week, the judge presiding over the lawsuit threw out the CFPB’s case—for a second time—on grounds different than before. The ruling could be a boon for affiliated business arrangements. Continue Reading Borders Law Firm Ruling Takes Unexpected Turn

This past week, the real estate industry was rocked again by the latest development in the epic court battle between PHH Corporation and the Consumer Financial Protection Bureau. Many observers predict that the U.S. Supreme Court will weigh in on the matter. When I consulted my Magic Eight Ball about that, it responded, “Very Doubtful.” Continue Reading PHH Saga Will Not Reach U.S. Supreme Court

The damage caused by Genuine Title, LLC, a now-defunct title company from Maryland, continues unabated. A federal court in Ohio recently certified a class action against the Ohio-based Emery Federal Credit Union for that company’s alleged participation in a kickback scheme with Genuine Title. The class-certification decision is so broad in its reasoning that all real estate business should be concerned. Continue Reading Fallout from Genuine Title Mars Ohio Credit Union