DAP – Regulatory Report

What's up

[ October 20, 2020 ] Bureau decides to extend ‘GSE patch’ until it finalizes a rule amending general QM loan definition CFPB
[ October 20, 2020 ] Board splits on final rules for NSFR levels, TLAC requirements; OKs interim rule on audit requirement relief FDIC
[ October 20, 2020 ] Brainard calls CRA modernization critical to addressing growing scarcity of affordable housing The Fed
[ October 20, 2020 ] Quarles: FSB report will identify policy goals to make nonbank sector more resilient COVID-19 actions
[ October 20, 2020 ] Fed C&D order cites bank employee for unsafe, unsound practices The Fed

Publication of withdrawal of guidance for ‘DAPs’ set

October 11, 2017 0

The withdrawal of guidance about “deposit advance products” (DAP) to national banks – possibly opening options for banks to offer payday and other short-term loans — is set to be published in the Federal Register […]

Acting Comptroller rescinds guidance in wake of final payday loan rule by CFPB

October 5, 2017 0

Guidance to national banks issued four years ago about “Deposit Advance Products” – including payday and other small-dollar, short-term loans – was rescinded Thursday by the Office of the Comptroller of the Currency (OCC), in […]

Bureau decides to extend ‘GSE patch’ until it finalizes a rule amending general QM loan definition

October 20, 2020 0

The so-called government-sponsored enterprise (GSE) patch – giving mortgages guaranteed by Freddie Mac and Fannie Mae “qualified mortgage” (QM) status – will be extended until a final rule is approved amending the general QM loan definition in Regulation Z, the [...]
Board splits on final rules for NSFR levels, TLAC requirements; OKs interim rule on audit requirement relief

October 20, 2020 0

The board of the federal insurer of bank deposits on split votes issued two final rules, and also issued an interim final rule Tuesday, including a regulation on bank liquidity that aims to ensure that large institutions don’t rely too [...]
Brainard calls CRA modernization critical to addressing growing scarcity of affordable housing

October 20, 2020 0

Challenges facing low- to moderate-income (LMI) and minority renters and would-be homeowners underscore the importance of getting modernization of anti-redlining laws right, the point person for the Federal Reserve’s efforts on the issue said Tuesday. In remarks to the National [...]
Quarles: FSB report will identify policy goals to make nonbank sector more resilient

October 20, 2020 0

A Financial Stability Board (FSB) report to the G20 Summit next month will give a diagnosis of the financial stability shock related to the coronavirus (COVID-19) pandemic and identify areas for possible policy action, including ways to address vulnerabilities in [...]
Fed C&D order cites bank employee for unsafe, unsound practices

October 20, 2020 0

A consent order to cease and desist has been executed with a bank employee of First Savings Bank, Jefferson, Ind., related to that individual’s supervision of the bank’s loan production office in Louisville, Ky., according to a Federal Reserve release [...]