Links in “Agencies”

While the CFPB has been promising the completion of its arbitration study by the end of 2014, with the year's final hours upon us, it appears that sometime in 2015 is far more likely. [12/30/14]

The CFPB has amended both the TILA and HMDA asset size threshold exemptions, increasing TILA from $2.060 billion to $2.028 billion, and increasing HMDA from $43 million to $44 million. [12/29/14]

Is one of your New Year’s resolutions to learn more about NACHA’s operating rules? If so, make sure you sign up for the NACHA webinar on January 7^th. [12/29/14]

Insightful white paper focuses on 62 publicly available enforcement actions taken by the CFPB which reveal trends and patterns. Some of the insights include the Bureau's targeting of a variety of industry sectors, focusing on a half dozen of its many laws, using enforcement forums that depend on size of defendant, etc. The Bureau continues to be Director Cordray's "cop on the beat." [12/24/14]

The FRB announced the annual adjustment of the dollar amount used to determine whether a small loan is exempt from the special appraisal requirements that apply to higher-priced mortgage loans. The exemption threshold is being adjusted from $25,000 to $25,500 and will, for covered loans, require creditors to obtain a written appraisal based on a physical visit to the home's interior. [12/24/14]

In a series of releases, two agencies are promoting financial check-ups and guidance. The FDIC's focuses on a checklist of questions and suggestions that can help individuals better meet their financial goals. The CFPB directed their guidance to parents to help children understand the value of money. Suggestions include "think[ing] out loud as you pay your bills." [12/24/14]

The NCUA has released its latest video regarding the economic outlook for 2015. The video notes the consensus of economic forecasters for 2015, projects that the economy will continue to grow, and projects that labor markets will continue to improve—all of which translates to continued solid loan growth, good loan quality, and moderate increases in deposits for credit unions. The video focuses on interest rate risk as a key concern for 2015. [12/24/14]

CFPB is proposing to amend Regulation E, Regulation Z, and the official interpretations to create comprehensive consumer protections for prepaid financial products. The proposal would cover prepaid accounts such as cards, codes, or other devices capable of being loaded with funds and usable at unaffiliated merchants or for person-to-person transfers and are not gift cards. See proposed rule here. [12/23/14]

The NCUA released an accounting of its regulatory modernization initiative results. This document covers the improved rules, streamlined processes, and clarified legal opinions made from 2011 through 2014. These actions were intended to modernize and improve the agency. [12/23/14]

The CFPB published its half-year 2015 regulatory agenda in the Federal Register. The more significant regulatory efforts listed include implementing the Dodd-Frank Act's mortgage protections including anticipated revisions and streamlining of key mortgage regulations including HMDA, RESPA, and TILA. The agenda further anticipates revisions to Regulation CC, the Expedited Funds Availability Act, and business lending rules under ECOA. [12/22/14]