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 ...
Earlier this year, new FDIC Guidelines were established allowing for the creation of a new Office. As of yesterday, December 6, 2021, the Federal Deposit Insurance Corporation (FDIC) has a ...
In Bulletin 2021-36 Freddie Mac clarified issues surrounding the use of cryptocurrency assets in the mortgage qualification and underwriting processes. Freddie Mac noted the “high level of uncertainty” surrounding cryptocurrencies ...
In October 2021, the National Credit Union Administration (NCUA) finalized a rule that will allow credit union service organizations (CUSOs) more flexibility to offer loan products. Effective November 26, 2021, ...
The Consumer Financial Protection Bureau (CFPB) announced it will be conducting a voluntary examination of the 2015 Home Mortgage Disclosure Act (HMDA) Rules to evaluate the effectiveness of HMDA in ...
A bill was introduced in Congress to extend the Military Lending Act’s 36% all-in rate cap to any consumer. As drafted, the bill would carry exemptions like the MLA; the ...
The Consumer Financial Protection Bureau (CFPB) recently published the annual threshold adjustments which become effective January 1, 2022. These threshold adjustments impact certain dollar amounts for several sections of Regulation ...
Five federal agencies, and the state bank and credit union regulators, issued a joint statement last week on managing the transition from LIBOR. The goal of the statement was to ...
The Consumer Financial Protection Bureau (“CFPB”) has revised its Supervision and Examination Manual with new focus on Information Technology (IT). The new IT focused section will identify examination procedures specific ...
The State of Maryland recently enacted legislation revising the way financial institutions determine consumer creditworthiness. Effective October 1, 2021, financial institutions must adhere to rules concerning evaluation of applications. Specifically, ...