On January 19 2021, the Federal Deposit Insurance Corporation (“FDIC”) together with the Board of Governors of the Federal Reserve System, Financial Crimes Enforcement Network, National Credit Union Administration, and ...
The Consumer Financial Protection Bureau issued a final rule adding a new exemption from the escrow requirements for certain higher-priced mortgage loans (“HPMLs”). Specifically, this applies to loans made by ...
The Consumer Financial Protection Bureau “(CFPB”) announced the beta release of the HMDA platform for filing data collect in 2021. The beta platform is available for testing purposes only and ...
At the end of 2020, the Consumer Financial Protection Bureau (“CFPB”) issued an Approval Order under the Policy on the Compliance Assistance Sandbox. The Approval Order allows the applicant, Synchrony ...
The CFPB issued an advisory opinion on special purpose credit programs to address uncertainty related to Regulation B and its applicability to aspects of special purpose credit programs that are ...
On Sunday December 27, 2020, President Trump signed the COVID relief package into law containing countless provisions addressing both pandemic relief and general funding for the federal government. The legislation ...
Beginning January 1, 2021, National Automated Clearing House Association (NACHA) has a new rule on enforcing egregious violations. An “egregious violation” is a willful or reckless action by a Financial ...
The IRS has posted a preview of the final regulations (TD 9930) which sets forth final regulations providing guidance relating to the life expectancy and distribution period tables that are used to ...
On November 3, 2020, California voters as part of the general election approved an initiative statute, California Privacy Rights Act of 2020 (CPRA), to amend and expand upon existing consumer ...
The National Credit Union Administration (NCUA) has issued guidance to credit unions serving hemp-related businesses, which were made legal under the Agriculture Improvement Act of 2018 (2018 Farm Bill).[1] The ...