My recent presentation for Lambda Alpha. We discussed the PHH Corp. et. al. vs CFPB case which was decided Oct. 11, 2016 by the US court of Appeals for the DC Circuit. PHH argued that the authorizing legislation for the CFPB creates an unconstitutional independent agency officer not subject to review by any branch of […]
Continue reading →Husky Int’l Electronics v. Ritz (US Supreme Court 2016). This case is about Bankruptcy Code 11 U.S.C. 523 which defines which debts are non-dischargeable in bankruptcy. Most common examples are a debt incurred by way of fraud or false representation, fraud in a fiduciary capacity, domestic support obligations or willful or malicious injury. The opinion […]
Continue reading →The Credit Risk Retention Rule (see OCC Bulletin 2015-8) (the “Rule”) imposes these requirements on firms, that package financial securities, into asset-backed securities by organizing a securitization transaction. The final rule defines qualified residential mortgages (“QRM”) to include all loans that meet the qualified mortgage definition defined in Section 129c of the Truth and Lending […]
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