Links in “Truth in Lending Act (TILA/Regulation Z)”
- Trade Groups Request Delay of CFPB’s “Know Before You Owe”
Several trade groups have written the CFPB to request a deferral of the "Know Before You Owe" effort until after the RESPA-TILA integrated disclosure rules is implemented. [2/20]
- OCC Updates Mortgage Handbook
The OCCâs updated booklet, âMortgage Banking,â provides new guidance on risk by assessing mortgage banking, key aspects of risk associated with mortgage banking, and amendments to Regulation X and Regulation Z issued by the CFPB. [2/10]
- Reading Between the CFPB’s Lines on Handling Extra Payments on Student Loans
The CFPB's findings of its survey of private student loan servicers on how extra payments from borrowers in excess of the minimum payment are applied suggests that it may raise Truth-in-Lending issues if excess amounts aren't applied to loans with the highest interest rates. [2/5]
- NCUA Issues Regulatory Alerts on New Mortgage Servicing Rules
NCUA releases two regulatory alerts providing an overview of new mortgage servicing rules under Reg. X (RESPA) and Reg. Z (TILA). [1/15]
- FTC Delivers Strong What-Not-to-Do in Marketing
Ongoing regulatory battle against deceptive marketing includes latest FTC efforts against 10 dealerships for deceptive marketing practices. Review of complaints will provide marketing personnel insights into what not to do. [1/10]
- Get Your Threshold Adjustments Here!!
Agencies announce thresholds for various regulations: (1) CRA: Intermediate Small Bank: $1.202 billion for prior two calendar year-ends; (2) FCRA: Maximum charge of $11.50 remains for 2014; (3) TILA: higher-priced mortgage escrow requirement exemption increased to $2.028 billion for banks as of 12/31/2013; and (4) HMDA reporting asset size exemption of $43 million as of 12/31/2013. [12/30]
- New 2014 HOEPA Threshold and Fee Safeharbor Established
As required under TILA, new thresholds for coverage under HOEPA rise to $632 or 8% of total loan amount (whichever is greater) and penalty fee safe harbor of $26 for §1026.52(b)(1)(ii)(A) and $37 for §1026.52(b)(1)(ii)(B). [12/16]
- Key Differences Between Proposed and Final TILA-RESPA Rule
CFPB breaks down the key differences between the proposal and the 1,888 final rule. [11/25]
- No ZZZs Here: Exemption Rises to $53,500 for 2014
For applicable consumer credit transactions (student and housing don't affect), the requirements for Truth in Lending and Consumer Leasing acts will apply amounts of $53,500 or less in 2014, an increase of $500 from 2013. [11/21]
- Zip-pitydoodah: CFPB Goes Final on Homeownership Counseling Selection Methods
High-Cost Mortgage and Homeownership Counseling Amendments for TILA and RESPA go final with homeownership counseling list provided using data made available by the HUD or CFPB based on applicant Zip Code. [11/14]
