CFPB Adds To Senior Leadership and Executive Teams
On May 13, 2019, the CFPB announced additions to its senior leadership and executive teams. Senior Leadership Team Additions Kate Fulton will serve as the Chief... Read More
Federal Regulatory Developments
HUD Announces New Debenture Interest Rates
On May 13, 2019, HUD published a notice in the Federal Register announcing changes to the interest rates to be paid on debentures issued on... Read More
CFPB Seeks Comments on Proposed Amendments to HMDA Regulation
The CFPB issued two requests for comments relating to Regulation C, which implements HMDA: an advance notice of proposed rulemaking (ANPR) and a proposed rule.... Read More
CFPB Proposes New FDCPA Regulations
On May 7, 2019, the CFPB issued a Notice of Proposed Rulemaking (NPRM) announcing proposed new regulations that would implement various existing provisions of the... Read More
FDIC Announces March Enforcement Actions
The FDIC recently announced a list of thirteen administrative enforcement decisions and orders taken against banks and individuals in March 2019, including “three consent orders;... Read More
CFPB Releases Factsheet Regarding Applicability of Loan Estimates and Closing Disclosures for Assumption Transactions
On May 1, 2019, the CFPB released a factsheet addressing whether a Loan Estimate and Closing Disclosure are required under the TRID Rule for certain... Read More
FHA Publishes Advance Notice of Proposed Rulemaking for the Single Family Loan Sale Program
On May 6, 2019, FHA published in the Federal Register an Advance Notice of Proposed Rulemaking and Request for Public Comment regarding its Single-Family Loan... Read More
Treasury Department’s Office of Foreign Assets Control Issues Framework for Developing Sanctions Compliance Programs
On May 2, 2019, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) published A Framework for OFAC Compliance Commitments to provide organizations... Read More
CFPB Requests Information on Remittance Transfer Rule
The CFPB has published a request for information regarding the temporary exception to the EFTA’s remittance transfer rule, with comments due June 28, 2019. The... Read More
FHA Formally Announces Extension of Effective Date on DPA Restrictions
On April 25, 2019, FHA issued Mortgagee Letter 2019-07, formally announcing the previously-reported extension of the effective date of Mortgagee Letter 19-06, regarding documentation requirements... Read More
FTC Advises Companies to Safeguard Networks and Customer Credentials
On April 24, 2019, the FTC published an article advising companies to: (1) deliver on any security pledges the companies make; (2) monitor company networks... Read More
CFPB Updates Prepaid Rule Small Entity Compliance Guide to Include Technical Specifications for Submissions to the Prepaid Account Agreements Database
The CFPB updated its Prepaid Rule Small Entity Compliance Guide to incorporate recent guidance issued by the Bureau addressing technical specifications for prepaid account issuers... Read More
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