The Consumer Financial Protection Bureau (CFPB) released guidance regarding junk fee practices that are unlikely unfair and unlawful under existing law. The junk fees that are the focus of the ...
The Fifth U.S. Circuit Court of Appeals ruled the Consumer Financial Protection Bureau’s funding mechanism is unconstitutional. The Court also vacated the CFPB’s 2017 Payday Lending Rule. The CFPB is ...
The IRS issued Notice 2022-55 announcing the 2023 cost-of-living adjustments (COLAs) applicable to dollar limitations for employer-sponsored retirement plans, including individual retirement arrangements (IRAs). The annual contribution limit was increased to ...
An exemption from certain appraisal requirements for higher-priced mortgage loans will apply to loans of $31,000 or less in 2023 under a rule change announced by the Federal Reserve Board, ...
The Federal Reserve Board and the Consumer Financial Protection Bureau (CFPB) announced the annual adjustments to the dollar thresholds used in determining whether certain consumer credit and lease transactions are ...
In February of 2022, the IRS released guidance that called for beneficiaries—under certain circumstances—to take annual required minimum distributions while also being subject to the new 10-Year Rule. The IRS ...
California passed a law that indefinitely extends the authority for institutions, and other self-service storage facility owners, to send notices and documentation by electronic mail. Under the existing California Self-Service ...
On September 16, 2022, the IRS posted a draft 2023 Form W-4R, Withholding Certificate for Nonperiodic Payments and Eligible Rollover Distributions. Effective January 1, 2023, payors are to provide Form W-4R, or ...
On September 16, 2022, the White House released its First-Ever Comprehensive Framework for Responsible Development of Digital Assets (“Framework”). The Framework takes into account several federal agency reports submitted to ...
On September 16, 2022, Nacha released a new rule that will define and standardize practices and formatting of Micro-Entries, which are used by some ACH Originators as a method of ...