Consumer Financial Services Litigation

Consumer Financial Services Litigation
Alternate image for Consumer Financial Services Litigation

Our Work

Industries

Services

Insights

  • MBA Report Reveals Drop in Residential Mortgage Loan Delinquency Rate

    The Mortgage Bankers Association’s (“MBA”) First Quarter 2022 National Delinquency Survey revealed that the delinquency rate for mortgage loans on 1–4-unit residential properties decreased to 4.11% of all loans outstanding at the close of the first quarter of 2022. This rate, according to the MBA, represents a decrease of 54 basis points from the fourth quarter of 2021 and 227 basis points from one year ago. Further, MBA Vice President of Industry Analysis Marina Walsh notes that the delinquency rate dropped for the seventh consecutive quarter, reaching its lowest level since the fourth quarter of 2019. Walsh credits the improvement in loan performance to the movement of loans that were ninety days or more delinquent, with most of these delinquencies either being cured or entering post-forbearance loan workouts.

  • CFPB Launches New Office to Facilitate Competition and Innovation

    On May 24, 2022, the Consumer Financial Protection Bureau (CFPB) announced that it is replacing the Office of Innovation with the newly-established Office of Competition and Innovation. The CFPB intends to “help spur innovation in financial services by promoting competition and identifying stumbling blocks for new market entrants.”

  • CFPB Update on the Amicus Program and Other Litigation

    The CFPB issued a Fair Lending Report in May of 2022 (“Report”), in which it provided updates on its involvement with ongoing litigation, including its amicus program. The CFPB emphasized that its amicus program provides courts with its views and helps “ensure that consumer financial protection statutes are correctly and consistently interpreted.”

  • Resolving Consumer Class and Mass Action Claims: Significant Issues and Considerations Explored

    Joseph A. Apatov (Fort Lauderdale) is presenting a webinar "Resolving Consumer Class and Mass Action Claims: Significant Issues and Considerations Explored" for The Knowledge Group on June 15, 2022. The webinar includes changes to class action lawsuits and practical strategies to mitigate class action risks.

  • Podcast: #WhyMcGlinchey? Path to Partnership with Matt Manning

    The path to partnership looks different for every lawyer. During today's installment of the #WhyMcGlinchey Path to Partnership series, we'll talk with Matt Manning about why he has chosen to grow his career here at McGlinchey, from Associate to Office Managing Member

  • View All