Links in “Agencies”
- Threshold (Non-)Changes
It's time for the annual moving (or non-moving) of the threshold amounts for various types of rules. The threshold for exempting loans from special appraisal requirements for higher-price mortgage loans will remain at $25,500 for 2016. The thresholds for Regs. Z and M also stay the same at $54,600.
- FDIC’s October Boom List
FDIC issued a total of enforcement 15 orders in October. Here's the rundown. [11/30/15]
- Fed Puts in Place Emergency Lending Rules
Final rule sets for the procedures for emergency lending under the Federal Reserve Act. [11/30/15]
- Raising Cybersecurity Awareness
The FDIC has added to its cybersecurity awareness resources for financial institutions. These supplemental materials, located here, are designed to encourage discussions regarding operational risk on common banking functions. [11/25/15]
- CFPB Monthly Complaint Report
The CFPBâs Monthly Complaint Report for November is here, bringing with it details of the challenges currently being faced by consumers. This monthâs report illustrates how many consumers are experiencing issues with opening and managing their accounts, as well as handling accounts which have been closed without explanation. [11/25/15]
- CFPB Addresses Obtaining Consumer Authorization for Recurring Auto Debits
The CFPB published a bulletin alerting companies that they must obtain authorization before automatically debiting a consumer's account. The CFPB also reminds companies that they must provide notifications to consumers clearly describing the terms of preauthorized automatic debits. The bureau is also publishing action letters for consumers seeking to revoke a company's authorization to auto debit an account. [11/24/15]
- Get Out Your Calendars: CFPB Announces its Rulemaking Agenda
Look for further prerule activities for arbitration coming in December 2015. Payday and deposit advance loans are slated for proposed rulemaking in February 2016. Prepaid cards final rule is expected in March 2016. More overdraft prerule activities are on tap for January 2016. And that's just for starters. [11/24/15]
- Executive Orders May Increase Costs of Compliance
In 2016, banks may find their regulatory burdens increased by new executive orders that apply to federal contractors and which will be enforced by the Office of Federal Contract Compliance Programs. [11/24/15]
- OCC Enforcement Activity
U.S. Bank and two individuals were hit with OCC enforcement actions in October. [11/23/15]
- CFPB Releases its Fall Report
The CFPB's eighth semi-annual report to Congress and the President is here. Updates on its efforts on arbitration, certain types of lending in its crosshairs (such as payday and auto title loans), prepaid accounts, overdrafts, debt collection, business data collection, mortgage servicing, expanded HMDA and more are included. [11/23/15]
