Browsing: ECOA

Mortgage

The Consumer Financial Protection Bureau issued an interpretive rule yesterday clarifying that, due to the COVID-19 emergency, consumers have a greater ability to exercise their rights to modify or waive certain required waiting periods under the TILA-RESPA integrated disclosures and Regulation Z rescission rules.

Compliance and Risk

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).