Responding to multiple letters and aggressive advocacy by ABA, top regulators yesterday clarified their approach to assessing compliance with the TILA-RESPA integrated disclosures.
Browsing: Compliance and Risk
Federal Reserve Governor Lael Brainard joined Janet Yellen at the Community Banking Research and Policy Conference with a speech on community bank lending to small businesses and the rise of online nonbank alternatives.
The House Financial Services Committee yesterday passed three ABA-supported bills addressing the Consumer Financial Protection Bureau and proposed limitations on retirement advice.
ABA and four other trade groups representing banks and credit unions today called on the Consumer Financial Protection Bureau to release and accept comments on a draft survey as part of its proposed study of overdraft protection services.
The Federal Reserve today approved the acquisition of Hudson City Bancorp, Paramus, N.J., by the Buffalo, N.Y.-based M&T Bank Corporation.
Testifying before the House Financial Services Committee today, Consumer Financial Protection Bureau Director Richard Cordray signaled that the bureau and other financial regulators are working on guidance for a formal ‘hold-harmless’ period to facilitate compliance after the TILA-RESPA integrated disclosures take effect on Saturday.
The entire New Hampshire congressional delegation — two Democrats and two Republicans — on Thursday wrote to Consumer Financial Protection Bureau Director Richard Cordray to request a “grace period” for good-faith efforts to comply following the Oct. 3 effective date for the TILA-RESPA integrated disclosures.
On September 30, 2015, the Federal Reserve Board of Governors approved Hudson City’s $3.7 billion merger with M&T Bank. The merger is expected to close on November 1, 2015, pending approval by the New York State Department of Financial Services.
The Eleventh Circuit’s ruling creates a circuit split with the Third, Seventh, and Sixth Circuits through which these circuits held that a company that acquires debt in default, and then tries to collect on that debt, qualifies as a debt collector.