Premier Banking Law News and Insights

The FDIC refuted a joint statement made by CFPB Director Rohit Chopra and FDIC Board member Martin J. Gruenberg that the FDIC Board had approved a request for information and comment on bank merger transaction rules, guidance and statements. In its statement on the matter, the FDIC said that "there was no valid vote...

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In Riccio v. Client Services, Inc., the District Court of New Jersey dismissed a class action lawsuit finding that a failure to assure a consumer that statements in a letter would not change in the future was not materially misleading under the least sophisticated debtor test. On February 13, 2020, Joanne...

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The CFPB adopted two final rules relating to the definition of "qualified mortgages" ("QMs"), both of which have the effect of broadening the scope of that definition under Regulation Z ("Truth in Lending Act"). The adoption of these rules will expand the types of mortgages that government-sponsored enterprises ("GSEs") may purchase, which in turn...

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