The Fifth Circuit recently ruled that the Consumer Financial Protection Bureau’s (CFPB) funding structure is unconstitutional, casting doubt on all of the agency’s actions. But the CFPB is as active as ever. Mayer Brown lawyers Ori Lev, Chris Leach and Christa Bieker discuss the Fifth Circuit’s ruling and its implications as well as the agency’s recent policy, enforcement, and supervisory activities.Continue Reading CFPB Update—Constitutional Crisis or Business as Usual?
Christa L. Bieker
Treating a Nonbank Like a Bank: New Proposed Prudential Standards for Nonbank Mortgage Servicers
By Laurence E. Platt & Christa L. Bieker on
Posted in Legal Update, Mortgage Loans
Should US state nonbank mortgage servicers be subject to “safety and soundness” standards of the type imposed by federal law on insured depository institutions, even though the nonbanks do not solicit and hold customer funds in federally insured deposit accounts or pose a direct risk of a government bailout? Well, state mortgage banking regulators think
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