Frank Keating asks the FDIC chairman’s views on the future of community banking, cybersecurity threats, regulatory burden, too-big-to-fail and more.
Browsing: Ability to Repay and Qualified Mortgage
Mortgage lenders need to watch out for repurchase risk, the future of Fannie and Freddie, disparate impact litigation and the non-Qualified Mortgage space.
In the first four months of the 114th Congress, 28 ABA-supported bills have been introduced, ABA bankers and staff have testified before Congress four times, the Federal Reserve finalized an ABA-advocated rule change helping smaller banks and ABA Chairman John Ikard participated in President Obama’s cybersecurity summit.
By a bipartisan 286-140 vote, the House today passed H.R. 685, a bill introduced by Rep. Bill Huizenga (R-Mich.) that would provide needed clarifications on the Qualified Mortgage rule’s points and fees test as part of ABA’s Agenda for America’s Hometown Banks.
ABA on Monday welcomed the Consumer Financial Protection Bureau’s proposed changes — many previously advocated by ABA — that will increase the number of banks able to benefit from the bureau’s small creditor and rural or underserved area exemptions in its mortgage rules.