Comments Requested on Proposed Changes to the Mortgage Call Report
As part of efforts to modernize the NMLS, both the State Regulatory Registry LLC (SRR) and the regulators of the Mortgage Call Report Working Group... Read More
Federal Regulatory Developments
FTC Announces Settlement on Privacy Protection Violations
The FTC recently reached a settlement with an online talent search company regarding alleged violations of the Children’s Online Privacy Protection Act (COPPA), which is... Read More
The Federal Reserve Imposes Limits on a National Bank’s Growth
On February 2, 2018, the Federal Reserve (the “Fed”) announced a consent order with one of the country’s largest banks, that orders the bank to... Read More
CFPB Acting Director Mulvaney Relocates and Removes Supervisory and Enforcement Functions from the Fair Lending Office
CFPB Acting Director Mick Mulvaney recently indicated in an e-mail to CFPB staff that the Office of Fair Lending and Equal Opportunity will be transferred... Read More
CFPB Launches LAR Formatting Tool
The CFPB recently launched its 2018 LAR Formatting Tool, which aims to help financial institutions prepare and convert HMDA data into electronic files so that... Read More
CFPB Issues a Request for Information Regarding Administrative Adjudications
The CFPB has issued a Request for Information, seeking comments from the public regarding how it might better improve its administrative adjudication processes, including the... Read More
HUD Awards $37 Million to Fair Housing Organizations to Fight Housing Discrimination
The U.S. Department of Housing and Urban Development (HUD) announced that it is awarding $37 million to more than 150 national and local fair housing... Read More
New VA Policy Guidance for Interest Rate Reduction Refinance Loans
On February 1, 2018, the Department of Veterans Affairs issued Circular 26-18-1, in which it announced a new policy regarding certain disclosures for the VA... Read More
New Chief of Staff at CFPB
Acting Director Mick Mulvaney has named Kirsten Sutton Mork as the Chief of Staff for the CFPB. Ms. Mork was serving as the Staff Director... Read More
OCC Seeks Comments on SAFE Act’s MLO Information Collection Requirements
The Office of the Comptroller of the Currency (OCC) recently published a notice and request for comment regarding the Secure and Fair Enforcement for Mortgage... Read More
CFPB Finalizes Changes to Prepaid Accounts Rule and Extends Effective Date to April 2019
The CFPB recently finalized changes to the Rules Concerning Prepaid Accounts (“Prepaid Accounts Rule”) under the Electronic Fund Transfer Act, implemented by Regulation E, and... Read More
FDIC, Federal Reserve Board, and OCC Issue Interagency Statement on CRA Consideration for the U.S. Virgin Islands and Puerto Rico Due to Hurricane Maria
The interagency statement recently issued by the Federal Deposit Insurance Corporation (FDIC), Federal Reserve Board of Governors (FRB), and the Office of the Comptroller of... Read More
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