Browsing: ECOA

Compliance

The Consumer Financial Protection Bureau today issued a “Supervisory Highlights” report focusing on recent examiner observations of several bank products or business lines, including auto loan servicing, credit cards, debt collection, mortgage servicing, payday lending, and for the first time, small business lending.

Compliance

In a comment letter to the Consumer Financial Protection Bureau today — the ninth of 12 that the association will submit in response to the bureau’s ongoing feedback initiative — ABA encouraged the bureau to update the regulations and related commentaries it inherited from other federal agencies on a regular basis as issues and questions arise and markets evolve.

Mortgage

The Consumer Financial Protection Bureau today modified the Equal Credit Opportunity Act (Regulation B) to provide flexibility for lenders around the collection of applicants’ demographic data under the Home Mortgage Disclosure Act (Regulation C).

Compliance

ABA today expressed its support for the Consumer Financial Protection Bureau’s proposal to harmonize borrower application data reporting requirements of the Equal Credit Opportunity Act (Regulation B) with new requirements under the Home Mortgage Disclosure Act (Regulation C).

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