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 ...
November 5, 2021, the House passed the Infrastructure Investment and Jobs Act (H.R.3684). Section 80603 specifically clarifies reporting requirements as it relates to crypto currencies by modifying U.S. Code, Title ...
The IRS issued Notice 2021-61 announcing the 2022 cost-of-living adjustments (COLAs) applicable to dollar limitations for employer-sponsored retirement plans, including individual retirement arrangements (IRAs). The annual contribution limit remains at $6,000 ...
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, ...
New York passed a law that requires banking institutions to pay checks in the order they are received or pay checks from the smallest to largest dollar amount for each ...
After 40 hours of debate, over a four-day period, the House Ways and Means Committee has approved a proposal to be submitted to the House Budget Committee for mark-up. This proposal which ...