Must the Bank Update the Loan Estimate if It Becomes Aware of Increases to Fees Unrelated to Extension of Rate Lock Agreement?
Questions and answers from the July/August 2021 ABA Regulatory Policy and Compliance Inbox.
Compliance and Risk
FSB Outlines Next Steps on Climate Risk Disclosures, Tackles Climate ‘Data Gaps’
As the annual summit of G20 finance ministers and central bank governors kicks off in Italy today, the Financial Stability...
Mystery Shopping: Taking the Mystery out of Fair Lending
Mystery shopping is a form of internal self-testing—and a technique that banks may be subjected to by external organizations. Raise...
CFPB Flags COVID-Related Consumer Complaints in Latest Bulletin
The Consumer Financial Protection Bureau today issued a consumer complaint bulletin that focused on complaints related to certain COVID-19 relief...
FHFA Issues Fair Lending Policy Statement
The Federal Housing Finance Agency issued a policy statement today stating its position on fair lending laws with respect to...
CFPB Issues Compliance Bulletin on Consumer Reporting of Rental Information
With pandemic-related rental protections set to expire over the coming months, the Consumer Financial Protection Bureau today issued a compliance...
ABA: New Regulations Not Needed to Address Banks’ Use of AI
As banks move to responsibly integrate artificial intelligence and machine learning capabilities into their business processes, the American Bankers Association...
How Banks Can Navigate the Minefield of Cloud Migrations
Adopting multiple solutions, or “cloud bandwagoning,” is bound to create friction within a bank’s systems—resulting in unpredictable consequences.
FinCEN Signals It Will Move ahead With No-Action Letter Rulemaking
The Financial Crimes Enforcement Network today signaled that it intends to move ahead with a rulemaking to establish a no-action...
FFIEC Issues New Booklet on IT Architecture, Infrastructure, Operations
The Federal Financial Institutions Examination Council today issued a new booklet providing guidance to help examiners assess the risk profile...
