Links in “Agencies”

The Board of Governors of the Federal Reserve System is proposing to repeal its Regulation AA. Among other provisions, this would remove their authority to write rules, but they would continue to have authority for enforcement against unfair or deceptive acts or practices. [8/27/14]

The CFPB released a report on how to improve financial wellness in the workplace in our current times of financial strain and recession.  The report is a resource for employers, non-profits, and others interested in promoting financial wellness programs among their employees. [8/27/14]

Adjustable rate mortgage (ARM) regulations have been revised. The final rule requires a 45-day look-back period for interest rate adjustments which result in a change to the mortgagor’s monthly payment for an ARM as well as compliance with disclosure and notification requirements of the 2013 TILA Servicing Rule. [8/26/14]

A proposed rule regarding parental verification is seeking public comment. This rule would require that parents give permission before online sites and services are able to collect personal information from their child. [8/26/14]

Mark McWatters is scheduled to be sworn in today for a seat on the NCUA Board. Outgoing board member Michael Fryzel will be delivering the oath of office. [8/26/14]

Mortgagees are no longer able to charge interest through the end of the month in which the mortgage was paid and must instead charge interest only through the date the mortgage was paid. [8/26/14]

HUD, VA, and USICH's new estimate shows that veteran homelessness has dropped by 33% since 2010. Does this shed any light on the effectiveness of these organizations' programs? [8/26/14]

Regulation AA is under review as the Federal Reserve Board requested comment to repeal the regulation. While this regulation would no longer fall under the Federal Reserve Board, unfair and deceptive practices would still be prohibited under the FTC and Dodd-Frank. [8/25/14]

The CFPB finalized its remittance rule which is targeted at protecting consumers who send money internationally. New changes include error resolution, canceling rights, and the required disclosure of fees by remittance transfer providers. [8/25/14]

NAFCU is holding a webcast on Wednesday which will outline what to expect from your upcoming examinations, focusing on the new mortgage rules. [8/25/14]