CFPB – Page 2 – Regulatory Report

What's up

[ November 20, 2019 ] Future of overdraft rule may be inching toward resolution, bureau regulatory agenda suggests CFPB
[ November 19, 2019 ] Agencies OK SunTrust/BB&T merger – but at cost of consent order for ‘unfair, deceptive practices,’ shedding branches, deposits The Fed
[ November 20, 2019 ] NCUA general counsel McKenna retires, board appoints Kressman acting GC NCUA
[ November 20, 2019 ] NCUA budget briefing over, but comments will be taken until Dec. 2 NCUA
[ November 20, 2019 ] OCC delays OREO rule effective date to January to comply with 1994 reg improvements law OCC

TILA appraisal exemption for higher-priced mortgages increasing to $27,200 in January

October 29, 2019 0

The appraisal exemption threshold under Regulation Z (Truth in Lending Act) for higher-priced mortgage loans (HPMLs) is rising from $26,700 to $27,200 as of Jan. 1, 2020, according to a filing with the Federal Register. […]

Final rule extending HMDA reporting threshold ready for publication

October 28, 2019 0

After nearly three weeks, a final rule extending the threshold for reporting information under the Home Mortgage Disclosure Act (HMDA) to January 2022 for lenders making 500 open-end lines of credit or fewer is ready […]

Bureau’s next symposium looks at ECOA reporting, issues

October 24, 2019 0

Information collected, reported, and made public through credit applications made by women-owned, minority-owned and small businesses will be the subject of the federal consumer financial protection agency’s next symposium, set for Nov. 6. The Consumer […]

High court decision to take up CFBP challenge spurs praise by industry, calls for commission

October 21, 2019 0

The Supreme Court’s announcement Friday that it will consider a case challenging the constitutionality of the federal consumer financial protection agency was greeted with praise from financial industry trade groups, who called for a commission, […]

Transition away from LIBOR (to SOFR) addressed in ‘what you need to know’ from CFPB

October 18, 2019 0

The impact of the transition from one commonly used index for setting interest rates on adjustable-rate consumer loan and other products – primarily residential mortgages – to another, new index is addressed in a “what […]

‘Preventing harm to consumers’ top aim of bureau, director says; House Dem report says agency fails to seek consumer relief

October 16, 2019 0

Preventing harm to consumers is the top priority of the federal consumer financial protection agency, its director told a House committee Wednesday – which the agency does through education, providing “clear rules of the road” […]

Total student loan complaints handled by bureau down by about half over past 2 years, new ombudsman’s report shows

October 15, 2019 0

The agency charged with consumer financial protection handled approximately 20,600 complaints related to private or federal student loans from Sept. 1, 2017, through Aug. 31, 2019, according to the first student loan ombudsman annual report […]

Based on 50-plus year model, Bureau to set up task force to ‘strengthen, improve’ consumer protection law, rules

October 11, 2019 0

A taskforce to examine ways to harmonize and modernize federal consumer financial laws is being established by the federal consumer financial protection agency, with the intent, the agency said Friday, of strengthening and improving consumer […]

Bureau extends suspension on HMDA data reporting by some for two more years

October 10, 2019 0

A two-year extension of a current, temporary threshold suspending the collection and reporting of data about open-end lines of credit for certain mortgage lenders is provided under a rule issued Thursday by the federal consumer […]

CFPB report: Symposium next month on small-biz loan data collection; action ahead on escrows, remittances

October 9, 2019 0

Ongoing and future regulatory activities planned regarding small-business loan data collection, the exemption for higher-priced mortgage loan escrows, remittance transfer rules and more at the Consumer Financial Protection Bureau (CFPB) are summarized in a semiannual […]

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Future of overdraft rule may be inching toward resolution, bureau regulatory agenda suggests

November 20, 2019 0

Overdraft protection may be coming up again soon at the federal consumer financial protection agency – but it’s not clear precisely when, according to the fall 2019 rulemaking agenda posted by the agency Wednesday. The Consumer Financial Protection Bureau (CFPB) [...]
Agencies OK SunTrust/BB&T merger – but at cost of consent order for ‘unfair, deceptive practices,’ shedding branches, deposits

November 19, 2019 0

The merger between two banking giants from North Carolina and Georgia was approved by two federal banking agencies Tuesday – but it came at the cost of divestiture of branches and north of $2.4 billion in deposits, and a consent [...]
NCUA general counsel McKenna retires, board appoints Kressman acting GC

November 20, 2019 0

Mike McKenna, general counsel for the National Credit Union Administration since 2011, has retired from the agency and will be replaced in “acting” capacity by Frank Kressman while a search for a replacement proceeds, the agency said Wednesday. McKenna joined [...]
NCUA budget briefing over, but comments will be taken until Dec. 2

November 20, 2019 0

A Dec. 2 comment deadline is the next item in the timeline toward eventual approval of the 2020-2021 budget for the National Credit Union Administration (NCUA). The agency held a public briefing on the proposed budget – $347.7 million in [...]
OCC delays OREO rule effective date to January to comply with 1994 reg improvements law

November 20, 2019 0

A final rule issued in October on other real estate owned (OREO) by national banks and federal savings associations (FSAs) will take effect Jan. 1, 2020, instead of Dec. 1, 2019, the Office of the Comptroller of the Currency (OCC) [...]
Bureau wants to hear about effectiveness of integrated disclosures required under TRID rule

November 20, 2019 0

Addressing the effectiveness of integrated disclosures required under federal regulations for real estate transactions is the subject of an assessment to be conducted by the federal consumer financial protection agency, the agency said Wednesday. In a release, the Consumer Financial [...]
Fed raises Reg D reserve exemption amount to $16.9 million, ups low reserve tranche, for 2020

November 20, 2019 0

The reserve requirement exemption and low reserve tranche established under the Federal Reserve’s Regulation D and applied to banks, savings associations, and credit unions are being adjusted upward by about 4.3% and 3.4%, respectively, for the coming year, the central [...]