As the days and months pass, compliance officers often reflect on the bank’s compliance program, its accomplishments, and what is yet to come. In the case of customer account servicing, the message is clear. Quality and fairness in servicing continues to be in the spotlight.
The Consumer Financial Protection Bureau recapped its efforts in 2018 to fulfill its statutory mandate to ensure consumers are protected from discrimination in its seventh Fair Lending Report issued recently.
From HMDA to CRA and from fair lending to anti-money laundering, 2019 promises to be a busy year in the world of compliance.
The rule affects compliance, operations, IT, investors, and anyone else involved in the mortgage loan environment.
The rapid pace of change will continue in 2019, ABA policy staff project.
In a year that saw passage of a major regulatory reform law, U.S. financial institutions’ anxiety levels over compliance obligations eased significantly, according to a survey released this morning by Wolters Kluwer.
In promulgating its rule implementing the Fair Housing Act’s discriminatory effects standard, the Department of Housing and Urban Development erred in ignoring Supreme Court precedent on determining disparate impact, ABA and 52 state bankers associations wrote in a comment letter to HUD today.
In a move long sought by ABA, the Department of Housing and Urban Development is formally seeking public comment on whether its rule implementing the Fair Housing Act’s discriminatory effects standard is consistent with the Supreme Court decision in Texas Department of Housing and Community Affairs v. Inclusive Communities Project.
Opponents of S. 2155 are spreading “misinformation” about what S. 2155 — the bipartisan regulatory reform bill set for a vote tomorrow — does to the Home Mortgage Disclosure Act, a California banker wrote in a Sacramento Bee op-ed today.
As President Trump today signed a Congressional Review Act resolution invalidating the Consumer Financial Protection Bureau’s 2013 guidance on indirect auto lending, CFPB Acting Director Mick Mulvaney said the bureau would revisit its Equal Credit Opportunity Act regulations.