Tag Archives: regulatory burden

Bankers Call for Revisions to TRID for Single-Family Construction Loans

In a recent letter to the Consumer Financial Protection Bureau, more than 100 bankers from across the country called on the bureau to revise the TILA-RESPA Integrated Disclosure rule to exempt single-family residential construction loans from onerous disclosure requirements that have created confusion for consumers and caused many banks to exit the market.

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ABA Urges CFPB to Use Guidance Appropriately, Effectively

In the latest in its series of comment letters to the Consumer Financial Protection Bureau responding to the bureau’s 12 requests for information, ABA emphasized the important role of clear and agency-binding guidance in facilitating compliance with regulations and added that guidance should not be used as a basis for enforcement actions.

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OCC Announces Policy Shift on Small-Dollar Lending

Signaling a significant shift in the OCC’s approach to small-dollar lending, the agency today issued a bulletin encouraging banks to make “responsible short-term, small-dollar installment loans, typically two to 12 months in duration with equal amortizing payments” to help meet the credit needs of their customers. 

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