More about Margaret Wright
Margaret Wright, JD, is regulatory compliance director with CLA. She is a graduate of Stonehill College and earned her juris doctor at Suffolk University Law School. She is admitted to the Massachusetts Bar.
Blog Posts by Margaret Wright:
-
CFPB provides Debt Collection Communication Guidance
by: Margaret WrightOn July 10, 2013 the Consumer Financial Protection Bureau (“CFPB”) issued the press release “The CFPB Puts Companies on Notice About Harmful Debt Collection Practices.” The press release includes two bulletins concerning consumer debt collector communications titled “Prohibition of Unfair, Deceptive, or Abusive Acts of Practices in the Collection of Consumer Debts” and […]
-
Maine Amendments: Fair Credit Reporting Act and SAFE Act
by: Margaret Wright, Esq. Maine Fair Credit Reporting Act On April 23, 2013 the Maine Senate enacted an amendment to update the Maine Fair Credit Reporting Act to be consistent with federal law. The new amendment repeals former Fair Credit Reporting Act section 10 MRSA c.210 and replaces it with new section 10 MRSA c.209-B, […]
-
District of Columbia Enacts Emergency Foreclosure Amendment Act of 2013
by: Margaret Wright, Esq.On May 22, 2013 the Council of the District of Columbia enacted the “Saving D.C. Homes from Foreclosure Enhanced Emergency Amendment Act of 2013.” The Act is effective immediately land serves to extend the emergency amendments to the D.C. Official Code Right to Cure Residential Mortgage Foreclosure Default, Foreclosure Mediation and Establishment […]
-
Texas Regulatory Round-Up
by: Margaret Wright, Esq. Proposed Updates for Reverse Mortgages The Texas Legislature has recently proposed an amendment to the Texas Constitution which will allow a reverse mortgage to be utilized for the purchase of homestead property that the borrower will occupy as a principal residence. Previously, reverse mortgages could not be used for purchase […]
-
Washington State Revises Consumer Loan Act
by: Margaret Wright, Esq. The Washington State Senate has passed Senate Bill 5207 amending the Washington Consumer Loan Act. Notably, the Bill in part makes amendments regarding fee collection, key definitions, enforcement in relation to licensee violations, exemptions, and recordkeeping requirements. Fee Collection Advanced fees may no longer be collected for loan modification […]
-
HUD Issues Standard for Disparate Impact Liability
by: Margaret Wright, Esq.Implementation of the Fair Housing Act’s Discriminatory Effects Standard The Department of Housing and Urban Development (HUD) has issued the Final Rule amending the Fair Housing Act to establish the method to be used when establishing liability under the discriminatory effects standard. The amendment formalizes the “burden-shifting test” of discriminatory effect and also […]
-
CFPB Revises Asset-Exemption Threshold for HMDA Data Collection in 2013
by: Margaret Wright, Esq.The Consumer Financial Protection Bureau (CFPB) has issued a Final Rule which revises the Home Mortgage Disclosure Act (HMDA) regarding adjustment of the asset exemption threshold definition for HMDA data collection by depository institutions. Banks, saving associations and credit unions with assets that are less than or equal to $42 million as […]
-
FTC Updates Red Flags Rules to Clarify Definition of Creditor
by: Margaret Wright, Esq.The Federal Trade Commission (FTC) has issued an Interim Final Rule to amend 16 CFR Part 681 of their Red Flags Rules to revise the definition of creditor as defined in the Red Flag Program Clarification Act of 2010. Prior to the Red Flag Program Clarification Act, the Fair Credit Reporting Act […]
-
FTC Revises Rules of Practice for Investigations & Attorney Discipline
by Margaret Wright, Esq.The Federal Trade Commission (FTC) has issued the Final Rule regarding revisions to 16 CFR Parts 2 and 4 of the Rules of Practice governing investigation and attorney discipline procedures. The need for additional clarification of the FTC’s investigatory procedures has resulted from the increasing trend of using compulsory process to obtain […]
-
How to Prepare for a Fair Lending Examination: Part III – Examination Results and Self-Assessment
by Margaret Wright, Esq. Assistant Vice President & Senior Counsel A lender’s understanding of the examination procedures established under the Interagency Fair Lending Examination Procedures is vital in establishing a valuable fair lending self assessment program. Following the same steps for self assessment as in a regulated fair lending examination is key to ensuring fair lending […]