Compliance

CFPB Releases Spanish Version of TILA-RESPA Form Guide

The Consumer Financial Protection Bureau yesterday released the Spanish version of “Your Home Loan Toolkit,” intended to help consumers understand the new Loan Estimate and Closing Disclosure forms that lenders are required to begin providing in October.

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Pentagon Tightens Loan Rules for Service Members

The Defense Department today issued a final rule tightening restrictions on lending to service members. The rule expands the restrictions in the Military Lending Act -- which principally targeted tax refund anticipation loans, payday loans and car title loans -- to cover credit cards, lines of credit, installment loans and deposit advances offered to service members.

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Volcker Rule Takes Effect Today

Today is the effective date of the Volcker Rule. Banks must have their compliance programs in place, and examiners will be reviewing banks’ compliance with the Volcker restrictions on proprietary trading and covered fund investments.

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