Lane Page

Nov 1, 2024 | jdsupra.com | Christopher Carlson |Lane Page |Joseph Reilly

On October 29, New Jersey Attorney General Matthew Platkin and the state’s Division on Civil Rights (DCR) released a report detailing the findings of a multi-year investigation into Republic First Bank (Republic) and its alleged mortgage redlining practices. According to the report, the investigation revealed that Republic engaged in a pattern or practice of redlining against Black, Hispanic, and Asian communities in New Jersey, in violation of the New Jersey Law Against Discrimination.

Sep 19, 2024 | jdsupra.com | Brooke Conkle |Carlin McCrory |Lane Page

On September 17, the Consumer Financial Protection Bureau (CFPB or Bureau) published Circular 2024-05 (Circular) addressing whether a financial institution violates the Electronic Fund Transfer Act (EFTA) and Regulation E by charging overdraft fees for ATM and one-time debit card transactions without proof of the consumer’s affirmative consent to enrollment in covered overdraft services.

Sep 18, 2024 | lexology.com | Brooke Conkle |Joseph Reilly |Lori J. Sommerfield |Chris Willis |Carlin McCrory |Lane Page

On September 17, the Consumer Financial Protection Bureau (CFPB or Bureau) published Circular 2024-05 (Circular) addressing whether a financial institution violates the Electronic Fund Transfer Act (EFTA) and Regulation E by charging overdraft fees for ATM and one-time debit card transactions without proof of the consumer’s affirmative consent to enrollment in covered overdraft services.

Jun 4, 2024 | jdsupra.com | Lane Page |Joseph Reilly

On May 30, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a request for information (Request) regarding alleged “junk fees” in closing costs charged by mortgage lenders and related settlement service providers. The Bureau is accepting public comments until August 2, 2024. According to the Request, from 2021 to 2023, the median total loan costs for home purchase loans increased by over 36%. In 2022, the median dollar amount in closing costs was nearly $6,000.