July 20, 2016
Hensarling Proposes Reform to Dodd-Frank; Would Dramatically Impact CFPB
By James E. Hyland, Esq.
The Pennsylvania Avenue Group
TLTA Federal Legislative Council
Jim Hyland, TLTA Federal Legislative Council, has prepared the following special report on U.S. House Financial Services Chairman Jeb Hensarling's Financial CHOICE Act. The nearly-five-hundred-page bill is Chairman Hensarling’s attempt to replace Dodd-Frank and make financial reforms to advance the interests of small businesses, community financial institutions and others.
Read the Report »
Cordray Responds to Legislators' Letter; Says It's Not "Prudent to Require Major Changes in Implementation"
CFPB director Richard Cordray recently wrote a letter to Reps. Dennis A. Ross and Ed Perlmutter, as well as 70 other legislators, regarding the Notice of Proposed Rulemaking for TRID and Dodd-Frank. In the letter, Cordray defends the Know Before You Owe rule, stating that "we do not believe it would be prudent to require major changes in implementation" and responding to the original letter's requests by defending the CFPB's actions.
Read Cordray's Letter (July 14) »
Read the Legislators' Letter (May 31) »
Big Spring Bank Loses Part of Case Challenging Cordray's Authority
Bloomberg | July 12, 2016
The CFPB and director Richard Cordray defeated a legal challenge from the State National Bank of Big Spring to actions taken by the agency while he was a 2012 recess appointee, with a judge delaying her decision on more resonant questions about the CFPB’s powers under the U.S. Constitution. State National Bank, which first filed suit in 2012, challenged five lending-related regulations taken by Cordray during that interim period. The director formally ratified those acts after his confirmation by the Senate in 2013.
Read More »
Read the D.C. District Court's Decision on the Case »
Mortgage Industry Struggles to Avoid Vendor Management Land Mines
Bloomberg BNA | July 11, 2016
Considerable investments to absorb and adjust to new laws and regulations have not altered the reality that coordinating the efforts of vendors will continue to determine whether the mortgage industry can ever conquer the heavy compliance burden it now faces. Along with vendor management concerns arising under the TRID rule, this article explores a number of mortgage industry challenges related to vendor management that have been the focus of intense CFPB enforcement efforts during the past year and are likely to continue into the foreseeable future.
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Houston and Texas Ranked High for Corporate, Community Sustainability
Houston Business Journal | July 11, 2016
The Lone Star State was the No. 1 state for sustainability in 2016, according to Site Selection magazine, and Houston ranked No. 7 among metro areas nationwide. Boston took the top spot among metros, with the Dallas area coming in at No. 2.
Read More »
Have You Registered for Owning and Managing a Texas Title Agency?
Presented by outstanding and experienced title industry professionals, this one-of-a-kind program will cover topics such as regulatory compliance, accounting, other key duties, responsibilities of a title agent and much more. This program is perfect for new title agency owners, those new to a management position or those in need of a refresher. It is designed to satisfy the requirements of Rule P-28(B) by the Texas Department of Insurance for management personnel of title agents applying to be licensed. It will take place Wednesday, Aug. 17, to Thursday, Aug. 18, at the Courtyard by Austin Marriott Downtown. Register today!
TLTA is lining up great webinars for the summer and fall. Add these to your calendar, or watch them as On-Demand Webinars!
Cyber Crime Attacks: How to Prevent and Recover (Tuesday, Aug. 9)
David Tandy's cyber crime presentation at the Annual Conference and Business Meeting was so popular, he is now hosting a full webinar with more information, tips and tricks!
I Walk the Line...the County Line (Wednesday, Sept. 7)
Learn when and why directly issued policies (a.k.a. home office issues) are needed in the title industry. Become familiar with the working parts, applicable statute 2704.002, definitions and Procedural Rules in P-1, P-21, P-22, P-23, P-24, P-58 and P-62, and learn how to complete a form T-00 properly when dealing with multicounty, Single County or Best Evidence situations.
CFPB, TRID and RESPA (Wednesday, Oct. 12)
More information on this webinar coming soon!