The Consumer Financial Protection Bureau yesterday issued a “Supervisory Highlights” report that outlined several areas of concern its examiners have found related to mortgage origination and servicing, fair lending and debt collection, among other topics.
The federal financial agencies today finalized a rule implementing the mandatory escrow and detached structure requirements in last year’s Homeowner Flood Insurance Affordability Act, which addressed affordability problems in the 2012 Biggert-Waters flood insurance reform law.
ABA’s compliance hotline team addresses adverse action notices, first liens under Reg O, linking on real estate agents’ websites and other hot compliance topics.
Consumer Financial Protection Bureau Director Richard Cordray announced today that the bureau is proposing to push back the effective date of the TILA-RESPA integrated disclosures by two months, from Aug. 1 to Oct. 1, in an effort to avoid closing headaches as the busy fall homebuying season kicks off.
Change management and vendor risk management are key overarching compliance concerns, according to senior regulatory officials at ABA’s Regulatory Compliance Conference today.
Regulators see fair lending risk in small-dollar loan products that allow significant discretion in pricing and underwriting, according to a panel discussion today at ABA’s Regulatory Compliance Conference.
Mid-sized banks have begun reporting the public results of their Dodd-Frank Act-mandated stress tests and disclosures will continue through the end of the month.
The OCC today updated its Comptroller’s Handbook guidance on residential mortgages, replacing previous guidance and exam procedures issued in 1990, 1998 and 2011.
Nearly 1,750 bankers and compliance experts — setting a new attendance record — convened in Washington, D.C., yesterday for the 29th annual ABA Regulatory Compliance Conference.
Approximately $300 million is laundered annually through the United States, most of it connected to fraud and drug trafficking, the Treasury Department said on Friday in its 2015 National Money Laundering Risk Assessment.