Lending

  • Couple meeting with a banker

    CFPB Issues HMDA Proposal

    On April 13th the Consumer Financial Protection Bureau (CFPB) issued a 150 page proposal to help financial institutions comply with the 2015 Home Mortgage Disclosure Act (HMDA) amendments.

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  • Family Home For Sale Sign

    Regulation B Proposal on Collecting Ethnicity and Race Information

    On March 24th the Consumer Financial Protection Bureau (CFPB) issued a proposal to amend Regulation B with respect to collecting and retaining government monitoring information for mortgage applications.

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  • CFPB Issues Penalty for HMDA Violations

    The Consumer Financial Protection Bureau (CFPB) issued a $1.75 million civil money penalty against Nationstar Mortgage LLC (Nationstar) for Home Mortgage Disclosure Act (HMDA) violations.

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  • Two business people walking and discussing outside the office

    CFPB Proposes to Delay Prepaid Accounts Rule

    On March 9th the Consumer Financial Protection Bureau (CFPB) issued a proposed rule to delay the effective date of the prepaid accounts rule.

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  • Regulatory Agencies Issue FAQs on CECL

    An inter-agency statement was jointly issued by the FDIC, OCC, FRB, and NCUA answering many of the frequently asked questions surrounding the new credit loss model, commonly referred to as CECL.

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  • Two-Businesspeople-Standing-in-Front-of-Capitol-Building

    Fair Lending a CFPB Priority

    On December 16th, the Consumer Financial Protection Bureau (CFPB) released a blog posting announcing that fair lending will be a priority to the agency in 2017.

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  • CFPB Issues Bulletin on Sales and Production Incentives

    On November 28th the Consumer Financial Protection Bureau (CFPB) issued a bulletin warning financial companies, including banks and credit unions, of the pitfalls associated with employee and service provider incentives programs.

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  • Business woman Presenting Letter Clients

    NCUA Examining for MLA Compliance

    On October 4th the National Credit Union Administration (NCUA) issued Letter to Credit Unions 16-CU-07 on its examination approach to the new Military Lending Act (MLA). NCUA states “examiners are instructed to accept a credit union’s reasonable and good faith efforts to comply with the new rule during the first examination following the implementation date. NCUA recognizes that some credit unions may need time to implement changes and work with their technology vendors to resolve problems that may arise from extensive testing and use, once their new MLA systems become fully operational”

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  • Two men shaking hands

    Interpretive Rule Issued for Military Lending Act

    The Department of Defense (DOD) has issued an Interpretive Rule on the Military Lending Act (MLA), which limits the military annual percentage rate that a creditor may charge to a maximum of 36 percent and requires specific disclosures.

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  • CFPB Proposes Amendments to TRID Rules

    The Consumer Financial Protection Bureau (CFPB) has issued a 293 page proposal to amend the Truth in Lending and Real Estate Settlement Procedures Act integrated disclosures rules (TRID).

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