The Consumer Financial Protection Bureau today released lists of rural counties and rural or underserved counties to use in 2016 in conjunction with the bureau’s Ability-to-Repay, escrow, HOEPA and appraisal rules. Rural counties were generally defined by using a U.S. Department of Agriculture classification system and underserved counties were defined by data collected under the Home Mortgage Disclosure Act, the CFPB said.
OCC removes reputational risk from bank exams, guidance
The OCC announced it will no longer examine banks for reputational risk and will remove references to such risk from its Comptroller’s Handbook booklets and guidance.