Commercial / Real Estate Lending

The House Financial Services Committee’s previous passage of the Creating Hope and Opportunity for Investors, Consumers, and Entrepreneurs” Act (“CHOICE Act”) provides a roadmap to potential financial regulatory reform early during the Trump administration, including reform of the Dodd-Frank Act’s and BASEL III’s bank capital requirements. House Committee on Financial Services Chairman Jeb Hensarling (R-TX-5) has indicated a desire to introduce a “2.0” version of the bill early in 2017 when the new Congress convenes.
Continue Reading Dodd-Frank Reform: BASEL III and Capital Requirements

Court Also Interprets RESPA Section 8 Anti-Kickback Provisions and Rules that the CFPB Is Subject to RESPA Statute of Limitations

RESPA issues may be the most relevant aspect of the October 11, 2016, ruling by a three-judge panel of the U.S. Court of Appeals for the D.C. Circuit in PHH Corp. v. Consumer Financial Protection Bureau, 15-1177 (D.C. Cir. Oct. 11, 2016). While the opinion’s strongly worded 2-1 holding that the CFPB is unconstitutionally structured is quite noteworthy—to say the least—further consideration by the entire D.C. Circuit seems likely. And en banc consideration could result in the panel’s opinion on the unconstitutionality of the CFPB being vacated, if the court can avoid reaching that issue at this juncture. 
Continue Reading D.C. Circuit Panel Rules CFPB Structure Unconstitutional