CFPB Clears Things Up For Mortgage Servicers

Law360, New York (October 28, 2013, 12:49 PM EDT) -- On Oct. 15, 2013, the Consumer Financial Protection Bureau approved an interim final rule amending certain mortgage-servicing rules enacted in January 2013 and issued a related bulletin providing guidance to mortgage servicers. The October rule becomes effective on Jan. 10, 2014, and amends Regulation X of the Real Estate Settlement Procedures Act (RESPA) and Regulation Z of the Truth in Lending Act (TILA) to resolve conflicts between RESPA, TILA, Fair Debt Collection Practice Act (FDCPA) and the Bankruptcy Code, as well as clarifying communication rules between...
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Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.