Lending
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Developing a Deposit Strategy? Do You Have an Industry-focused Approach?
Looking for deposits? Maybe this information will help.
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Community Bank Leverage Ratio Proposal Issued
The proposed Community Bank Leverage Ratio has been issued. Does the proposal provide the benefits and meet the intention of S.2155?
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BCFP to Define “Abusive”
The Bureau of Consumer Financial Protection (BCFP) announced at a recent conference that they are planning on issuing a rule defining what is considered “abusive”.
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FinCEN Makes Permanent Beneficial Ownership Limited Exception
On September 7, 2018, the Financial Crimes Enforcement Network (FinCEN) made permanent the limited exception to the Beneficial Ownership Rule for certain products and services that were established prior to May 11, 2018.
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BCFP Issues Rule Clarifying HMDA Amendments
On August 31, 2018, the Bureau of Consumer Financial Protection (BCFP) issued an interpretive and procedural rule implementing section 104(a) of the Economic Growth, Regulatory Relief and Consumer Protection Act (Act) which amended the Home Mortgage Disclosure Act (HMDA).
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CFPB Updates Regulation Z Annual Thresholds
On August 27, the Consumer Financial Protection Bureau (CFPB) issued a final rule amending Regulation Z dollar amount thresholds for credit cards, Home Ownership and Equity Protection Act (HOEPA) loans, and qualified mortgages.
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CFPB Issues HMDA Changes Statement
On July 5, 2018, the Consumer Financial Protection Bureau (CFPB) issued a statement regarding the recently announced changes to the Home Mortgage Disclosure Act (HMDA).
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Simplified 1040 “Postcard” May Cause Confusion for Lenders
The IRS last week released a draft of the new version of the Form 1040 tax return for individuals designed to fit on a postcard. The new form consolidates much of the detail lenders have grown accustomed to and completely reformats the first two pages of the return.
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CFPB Issues Credit Card APR Consent Order
On June 29, 2018 the Consumer Financial Protection Bureau (CFPB) issued a consent order against Citibank, N.A. (Citibank) for violating the Truth in Lending Act (Regulation Z) with respect to its credit card program.
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HMDA Changes
There is some confusion in the industry regarding the impact of the new law President Trump signed on May 24th, S.2155 Economic Growth, Regulatory Relief, and Consumer Protection Act.