Links in “Agencies”
- CFPB Goes Final on Certain TILA Amendments
CFPB issues a definition under a final rule for certain alternative small servicing nonprofit entities. Exemption will not apply to credit union industry directly. Additionally, the CFPB's final rule also provides a cure mechanism for the points and fees limit that applies to qualified mortgages. [11/3/14]
- OCC on Matters Requiring Attention: No More Tricks
The OCC has published revised policy and procedures for handling Matters Requiring Attention (MRAs) resulting from examinations. Changes were made in an effort to improve tracking and correction or observed issues within institutions. [10/31/14]
- FDIC Spooks Banks with Enforcement Actions
The FDIC has released its September list of enforcement actions for banks and individuals. Twenty orders were issued, two of which were removal and prohibition orders. [10/31/14]
- What Will the CFPB’s “Mystery” Field Hearing Be About?
Speculation that the Nov. 13 field hearing, for which no topic has been announced, could be about the proposed rule for prepaid cards, which CFPB's director had previously said would be issued at the end of summer. [10/31/14]
- “In One or More”: CFPB’s Imprecision Detracts from its Promised Transparency
In recent reports highlighting issues relating to mortgage and student loan servicing, debt collection electronic fund transfers and more, the CFPB has taken to describing the problems as being found at "one or more servicers" or "in at least one examination." Such descriptions obscure the magnitude of such problems and detract from the transparency promised by the agency. [10/31/14]
- Implementing the Deluge of Flood Insurance Regulations
Five agencies (the OCC, FRB, FDIC, FCA, and NCUA) are proposing to amend their regulations regarding loans in areas with special flood hazards to implement certain provisions of the Homeowner Flood Insurance Affordability Act of 2014 (HFIAA). In particular, the agencies proposed six additional exemptions from the escrow requirement and the incorporation of the detached structures provision of the HFIAA. [10/30/14]
- Student Lenders: A New Protected Class?
The CFPB's fifth edition of Supervisory Highlights was released Tuesday, providing general insight into recent illegal actions pertaining to mortgage and student loan servicing practices. Director Cordray, consistent with recent remarks, indicated that servicers of student loan debt will be "[held] accountable for how they treat borrowers." Find out how to safeguard your institution from protections placed on student lenders. [10/29/14]
- Hot off the Press: FDIC Unbanked/Underbanked Household Survey
Has the proportion of our nation's unbanked and underbanked households increased or decreased in the past two years? Find out by taking a look at the nation's most extensive survey on the subject released by the FDIC today. [10/29/14]
- RESPA/TILA Rule Reminder
Don't forget, there are only 12 days left in the public comment period for proposed changes to the integrated RESPA/TILA mortgage disclosures. Make sure you're up-to-date on the most recent proposed changes. [10/29/14]
- Demystifying Regulatory Language
The Federal Register has proposed updates to selected policies and regulations in an effort to clarify and modernize the regulatory text. The public comment period for this proposal will end December 29, 2014. [10/28/14]
