FDIC Issues Request for Information on Bank Mergers
Recently the FDIC issued a Request for Information regarding the regulatory framework applicable to merger transactions involving one or more insured depository institutions. The FDIC... Read More
Federal Regulatory Developments
CFPB Report Summarizes Payday Loan Extended Payment Plan Usage
The CFPB recently published a report describing State payday loan extended payment plans and their use. Extended payment plans, often considered an “off ramp” for... Read More
HUD Publishes Proposed Rule Increasing the Maximum Term for Loan Modifications to 40 Years
HUD recently published a proposed rule in the Federal Register that would amend 24 CFR § 203.616 to increase the maximum loan modification term limit... Read More
FDIC Releases Spring 2022 Consumer Compliance Supervisory Highlights
The FDIC released the Spring 2022 edition of the Consumer Compliance Supervisory Highlights (Highlights), which provided transparency into the FDIC’s consumer compliance supervisory activities. The... Read More
OCC Issues Final Rule Allowing for SAR Exemptions
The OCC recently issued a final rule which amends the OCC’s suspicious activity report (SAR) regulations and allows the agency to exempt certain financial institutions... Read More
FFIEC Releases 2022 Edition of A Guide to HMDA Reporting: Getting It Right
The FFIEC recently issued the 2022 edition of A Guide to HMDA Reporting: Getting It Right. The guide provides a summary of key HMDA requirements... Read More
CFPB Issues Policy Guidance on Potentially Illegal Practices Related to Consumer Reviews
The CFPB recently issued policy guidance regarding unfair and deceptive acts related to consumer reviews. The guidance acts as a reminder to regulated entities of... Read More
CFPB Focuses on Credit Card Late Fees
A recent CFPB report asserts that most credit card companies charge the maximum late fee allowed under provisions set by the Federal Reserve Board of... Read More
CFPB Extends Deadline to Submit Comments on “Junk Fees”
The CFPB recently extended the deadline to submit comments to its Request for Information (RFI) regarding junk fees—described by the Bureau as exploitative, back-end, hidden,... Read More
VA Updates Lender Guidance for Borrowers Affected Financially by COVID-19
The VA has issued an update to Circular 26-20-10 which provides guidance to lenders regarding borrowers affected financially by the COVID-19 national emergency. The update extends the rescission... Read More
PAVE Task Force Issues Action Plan to Advance Equity in Appraisals
The Property Appraisal and Valuation Equity (PAVE) Task Force recently released an Action Plan that outlines the historical role of racism in the valuation of... Read More
CFPB Encourages Servicers to Use HAF Programs
The CFPB recently reiterated to mortgage servicers its strong encouragement for them to participate in Homeowner Assistance Fund (HAF) programs – meant to help homeowners... Read More
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