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Summary: Joint Statement on Additional Loan Accommodations Related to COVID-19
Joint Statement Summary Joint Statement on Additional Loan Accommodations Related to COVID-19 August 2020 The Federal Financial Institutions Examination Council (FFIEC) has issued a Joint Statement to provide prudent risk...
Summary: Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by Hurricane Laura and California Wildfires
Joint Statement Summary Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by Hurricane Laura and California Wildfires September 2020 NCUA, the Federal...
Summary: Anti-Money Laundering Program Effectiveness
FinCEN Advance Notice of Proposed Rulemaking (ANPR) Anti-Money Laundering Program Effectiveness Summary Prepared by NASCUS Legislative & Regulatory Affairs Department September 2020 The Financial Crimes Enforcement Network (FinCEN) has issued...
Summary: CFPB Proposed Rule re: TILA Definition for Seasoned Qualified Mortgage Loan Definition
Summary: CFPB Proposed Rule re: TILA Definition for Seasoned Qualified Mortgage Loan Definition 12 CFR Part 1026 The Consumer Financial Protection Bureau Prepared by the Legislative & Regulatory Affairs Department...
Summary: CFPB Proposed Rule re: Qualified Mortgage Definition Under the Truth in Lending Act (Regulation Z): General QM Loan Definition 12 CFR Part 1026
Summary: CFPB Proposed Rule re: Qualified Mortgage Definition Under the Truth in Lending Act (Regulation Z): General QM Loan Definition 12 CFR Part 1026 The Consumer Financial Protection Bureau Prepared...
Summary: NCUA Risk Alert: 20-Risk-02 COVID-19 Fraud Schemes
NCUA Risk Alert: 20-Risk-02 COVID-19 Fraud Schemes August 2020 NCUA issued Risk Alert 20-RA-02 to inform credit unions about fraud risks associated with the COVID-19 pandemic. The economic dislocation resulting...
Summary: Regulatory Alert 20-RA-07 CFPB Issues Amendments to Payday, Vehicle Title, and Certain High-Cost Installment Loans Rule
Regulatory Alert 20-RA-07 CFPB Issues Amendments to Payday, Vehicle Title, and Certain High-Cost Installment Loans Rule August 2020 In July, the CFPB issued a final rule amending parts of the...
Summary: Legal Opinion Automated Loan Underwriting System – Segregation of Duties for Loan Officers
Legal Opinion Automated Loan Underwriting System – Segregation of Duties for Loan Officers June 16, 2020 NCUA’s legal opinion reinterprets existing NCUA interpretations of the permissibility of loan disbursements resulting...
Summary: Legal Opinion Reasonable Proximity Analysis
Legal Opinion Reasonable Proximity Analysis June 10, 2020 NCUA’s Legal Opinion addresses FCU field of membership and the term “reasonable proximity,” as used in the Federal Credit Union Act (“FCUA”)...
Summary: FinCEN Guidance FIN-2020-G002
FinCEN Guidance FIN-2020-G002 Frequently Asked Questions Regarding Customer Due Diligence (CDD) Requirements for Covered Financial Institutions August 3, 2020 FinCEN has issued updated responses to 3 FAQs regarding CDD requirements...
Summary: Proposed Rule re: Higher Priced Mortgage Loan Escrow Exemption (Regulation Z)
Summary: Proposed Rule re: Higher Priced Mortgage Loan Escrow Exemption (Regulation Z) 12 CFR Part 1026 The Consumer Financial Protection Bureau Prepared by the Legislative and Regulatory Affairs Department July...
Summary: CFPB Request for Information on the Equal Credit Opportunity Act and Regulation B
Summary: CFPB Request for Information on the Equal Credit Opportunity Act and Regulation B The Consumer Financial Protection Bureau Prepared by the Legislative and Regulatory Affairs Department August 2020 The...