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 ...
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 Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (the “Agencies”) adopted as final the interim rule ...
In letters dating back to 2016 and 2017, several financial institutions submitted requests for an exemption or interpretation regarding application of the customer identification program (“CIP”) to insurance premium finance ...
Yesterday, the Consumer Financial Protection Bureau (“CFPB”) made Issue 22 of its Supervisory Highlights available. This Issue covers examination topics identified between September 2019 and December 2019. One of the ...
The CFPB’s Consumer Credit Panel (CCP) published a report on “consumer credit outcomes stemming from the immediate and dramatic shocks to consumer and household income” resulting from the COVID-19 pandemic. ...
On August 18, 2020 the Consumer Financial Protection Bureau (“CFPB”) issued a notice of proposed rulemaking to amend the Ability to Repay/Qualified Mortgage (“ATR/QM”) rule in Regulation Z. This proposal ...