Links in “CFPB”
- Final List of Rural and Underserved Counties Issued
CFPB issues final list of rural and underserved counties that credit unions and other lenders can use beginning in 2014; several of the new mortgage rules have provisions that provide for exceptions or different treatment for creditors that primarily operate in these counties. Here's a link to find out whether this may apply to you. [7/3]
- Clarifying Amendments Proposed for Regs. B, X, and Z
CFPB's proposed amendments to Reg. B, Reg. X and Reg. Z address mortgage loan servicing, loan originator compensation, fee thresholds for high rate/high fee mortgages and qualified mortgages, exemptions for certain creditors, prohibition on creditor-financed credit insurance, and effective dates for certain provisions. [7/2]
- Bill Introduced to Provide Regulatory Relief for CUs
Among the bills 5 points are provisions that would allow NCUA to grant federal credit unions a waiver to follow a state rule instead of a federal one; authorize NCUA to step in to modify a CFPB rule affecting credit unions; and require that NCUA and CFPB revisit cost/benefit analyses of rules after three years so they have a true sense of the compliance costs for credit unions. [7/1]
- CFPB’s Guide to Avoiding Enforcement
Want to avoid the Regulatory Sting: Self-Policing, Self-Reporting, Remediation and Cooperation. CFPB lays out clear strategies for every FI. [6/28]
- Catch-22: Comply with CFPB or HUD?
Quality mortgages safe harbor provisions of CFPB may collide with HUD's disparate impact test. [6/28]
- Bankers’ Top Concern: Regulatory Reform
What keeps bankers up at night? 46% said regulatory reform stemming from the Dodd-Frank Act and the CFPB. [6/28]
- CFPB: We’ve Got our Eye on Them Too
Just so you don't think its just you, CFPB issues rules on supervising nonbanks. Size is not a factor.
Take home for FIs: affiliate/subsidiary risk just went up! [6/27]
- Ready, Go, Set: CFPB Issues Proposals to Revise Final Mortgage Rules
Issues 171-page proposal intended to ease implementation of the final mortgage rules, but is yet another proposal to a series of final rules that already have been through the proposal process and already have an effective compliance date. [6/26]
- CFPB Seeks to Pave Way for Clear Way
Proposal touches broad range of implementation issues regarding Clear Way as CFPB attempts promotion of smooth transition on Mortgage Rules. [6/26]
- Still Confused about the New Mortgage Rules?
Not sure if it helps, but the CFPB has issued proposed clarifications to the new mortgage rules that address issues related to: 1)Â Mortgage servicing and loss mitigation applications; 2)Â Short-term forbearance plans; 3)Â Lending in rural and underserved areas; 4)Â Financing of credit insurance premiums; 5)Â Definition of loan originator; and 6)Â Manufactured housing employees. [6/25]
