The Financial Crimes Enforcement Network (FinCEN), has issued responses to three FAQs regarding customer due diligence (CDD) requirements for covered financial institutions. The topics discussed include whether covered financial institutions ...
The Consumer Financial Protection Bureau (“CFPB”) published two additional Home Mortgage Disclosure Act (“HMDA”) FAQs this week. The new FAQs relate to multiple data points and reporting requirements when information ...
The Consumer Financial Protection Bureau issued a Final Rule updating the Regulation Z threshold amounts for the Minimum Interest charge, Credit Card penalty fee amounts, HOEPA loans, and Qualified Mortgages ...
The Department of Treasury and IRS announced in IR-2020-134 that the tax filing and payment deadline of July 15, 2020 will not be postponed. The original tax filing deadline had ...
On June 29, 2020, the Supreme Court ruled that the Consumer Financial Protection Bureau (CFPB), a governmental agency run by a single director, was unconstitutional because it violated the Constitution's ...
On June 24, 2020, the California Secretary of State announced that the California Privacy Rights Act (CPRA or CCPA 2.0) has received enough signatures, and those signatures were verified, to ...
The IRS announced relief for victims of the tornadoes, severe storms, and flooding that took place in parts of Mississippi, Tennessee, and South Carolina in IR-2020-126. Affected individuals and businesses ...
The IRS released Notice 2020-51 which provides significant relief for IRA owners and beneficiaries as well as retirement plan participants who wish to return their 2020 distributions due the RMD rule ...
The IRS released Notice 2020-50 regarding section 2202 of the CARES Act which provides for favorable tax treatment of coronavirus-related distributions for qualified individuals with respect to distributions from eligible ...
In December 2018, Fannie Mae and Freddie Mac (the GSEs) published a revised Uniform Underwriting and Transmittal Summary (Form 1008). This optional form is used to summarize key data from the ...