FHFA Publishes Proposed Rule to Amend Federal Home Loan Bank Housing Goals
On November 2, 2018, the FHFA issued a proposed rule to amend the existing Federal Home Loan Bank Housing Goals regulation. The proposed rule would... Read More
Federal Regulatory Developments
FTC Announces Agenda for Hearing on Competition and Consumer Protection in the 21st Century
The Federal Trade Commission recently announced the agenda for the seventh session of its Hearings Initiative. The two-day hearing will be held on November 13... Read More
Federal Reserve Board, OCC and FDIC Issue RFI on Proposed Changes to Applicability Thresholds for Regulatory Capital and Liquidity Requirements
On October 31, 2018, the Federal Reserve Board, OCC and FDIC (collectively, the Agencies) issued a request for information (RFI) seeking comments on a proposal... Read More
FTC Announces Consent Order Over Alleged False Certification of EU-US Privacy Shield Compliance
The FTC entered into a consent order over allegations that a company falsely claimed it was in the process of certifying its compliance under the... Read More
BCFP Issues Update to HMDA Small Entity Compliance Guide
The BCFP has issued an updated version of the HMDA Small Entity Compliance Guide to reflect the partial exemptions to some of the HMDA Rule’s... Read More
FTC Settles with Online Student Loan Refinancer
An online student loan refinance company has agreed to a consent order with the FTC over claims that the company deceptively advertised the amount student... Read More
VA Issues VALERI Servicer Newsflash Regarding Reporting on Loans Impacted by Natural Disaster
In a recently published VALERI Servicer Newsflash, the VA indicated that Electronic Default Notification (EDN) events on current loans that are impacted by a natural... Read More
FTC Approves R-Value Final Rule
On October 29, 2018, the FTC issued its final rule regarding the labeling and advertising of home insulation. R-value represents an insulation product’s ability to... Read More
BCFP Enters Consent Order with Payday Lender for Deceptive and Abusive Debt Collection Practices
The Bureau of Consumer Financial Protection entered into a consent order with a payday lender over its debt collection practices related to collection of time-barred... Read More
OMB Publishes BCFP’s Fall 2018 Rulemaking Agenda
The OMB published the BCFP’s new rulemaking agenda which included proposed rules implementing the Economic Growth, Regulatory Relief, and Consumer Protection Act that was signed... Read More
FDIC Updates Cybersecurity Awareness Resources
The FDIC recently added two new vignettes to Cyber Challenge, the FDIC’s cybersecurity awareness resource for financial institutions, which consists of exercises that are intended... Read More
FinCEN Employee Arrested for Leaking SARs
On October 17, 2018, a FinCEN senior employee was arrested and charged with leaking and conspiring to leak Suspicious Activity Reports (SARs) to a digital... Read More
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