March, 2016
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New Rule Broadens Qualified Mortgage Coverage for Small Creditors
The CFPB has issued a rule that allows more small creditors to take advantage of provisions for operating in rural or underserved communities.
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Agencies Issue Guidance on CIP for Prepaid Cards
The federal financial institution agencies issued guidance that clarifies that certain prepaid cards issued by a financial institution should be subject to Customer Identification Program (CIP) requirements.
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FASB Releases Guidance on Lease Accounting
FASB has issued a standard that will substantially eliminate operating lease accounting for leases with terms longer than one year.