SEC Issues Interpretive Guidance On Satisfying Rule 144 Holding Periods for Common Stock Acquired in Exchange for Real Estate Investment Trust (REIT) Operating Partnership Units

In March, the U.S. Securities and Exchange Commission (SEC) issued a no-action letter regarding satisfaction of the required holding period under its Rule 144 safe harbor for certain resales of “restricted securities” without registration under the Securities Act of 1933 (the “Securities Act”), in the context of sales of common stock of a public real estate investment trust (REIT) acquired in exchange for the same REIT’s operating partnership (OP) units.

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Citing Operational Challenges, CFPB May ReWrite TRID

By | Bank Law Monitor | April 28, 2016

Today, the CFPB issued a letter to various industry trade groups, including the Mortgage Bankers Association, the American Bankers Association, and the Independent Community Bankers of America,  acknowledging that the implementation of the “Know Before You Owe” rule  (otherwise known as “TRID”) poses many “operational challenges.”

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Industry Trade Groups’ Renewed Challenge to HUD Disparate Impact Rule Could Yield Helpful Precedent for ECOA Cases

By | CFPB Monitor | April 28, 2016
Industry Trade Groups’ Renewed Challenge to HUD Disparate Impact Rule Could Yield Helpful Precedent for ECOA Cases

The D.C. district court recently granted two industry trade associations whose members sell homeowners insurance leave to file an amended complaint in their lawsuit challenging the Fair Housing Act (FHA) disparate impact rule (Rule) adopted by the U.S. Department of Housing and Urban Development (HUD). 

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