Morey Barnes Yost

What Happened? On March 13, President Trump issued an Executive Order titled “Promoting Access to Mortgage Credit,” addressing factors that may have negatively impacted the ability of community banks and other smaller financial institutions to participate in mortgage lending and servicing.

The latest edition of the Consumer Finance State Roundup highlights recently enacted measures of potential interest from two states: New Jersey Effective immediately upon approval by Governor Phil Murphy on January 12, Assembly Bill 4841 amends the Law Against Discrimination to prohibit discrimination based upon “source of lawful income used for rental or mortgage payments,” among other bases.

What Happened? In the October 29 Federal Register, the Consumer Financial Protection Bureau issued a final rule rescinding its previous rule relating to the Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders Final Rule, which imposed obligations on nonbank entities that offer or provide a consumer financial product or service.