General World News

CFPB files amicus brief in support of Maine mortgage borrowers in TILA lawsuit

The Consumer Financial Protection Bureau (CFPB) this week filed an amicus brief in a Maine Supreme Judicial Court in a case involving a married couple’s loan, joining with state officials including the attorney general, its Bureau of Financial Institutions and Bureau of Consumer Credit Protection.

The Maine state agencies filed the lawsuit, Franklin Savings Bank v. Bordick, under the federal Truth in Lending Act (TILA) on behalf of a couple that took out a mortgage in 2008 in order to purchase land for the construction of a new home. While they sold the home in 2014, the details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com