The Consumer Financial Protection Bureau (CFPB) will publish the long-anticipated amendments to Regulation Z to implement the ability to repay rules today. The rule will be effective next year. CFPB Director Richard Cordray will officially announce the new rule in an event scheduled for later today in Baltimore. The is the first of several final rules scheduled to be published by the end of next week. The rule imposes a range of obligations and restrictions […]
Month: January 2013
CFPB PUBLISHES SEMI-ANNUAL AGENDA
Today the Consumer Financial Protection Bureau (CFPB) published it’s semiannual agenda as part of the Fall 2013 Unified Agenda of Federal Regulatory and Deregulatory Actions. The Agenda reflects antipathy actions during the period from October 1, 2012 to October 1, 2013. The next agenda will be published in spring 2013 and will update the agenda through October 1, 2013. According to the agenda the following final rules are expected in January 2013: Regulation X and […]
CORRECTION: COMPLIANCE MASTERS GROUP
We mentioned yesterday in our Compliance Masters Group article that we’re expecting over 10,000 pages of regulations in the next few weeks. We are expecting a lot, but just not that much. We had a typo, and it should have said “we’re expecting over 1,000 pages of regulations”.
Compliance Masters Group- Act Now to Save!
About a year and a half ago I started a Compliance Masters Group after hearing many of my seminar attendees say, “I wish I could take you back to the bank with me.” My goal was to develop a more hands on approach to help walk people through what’s going on in the crazy compliance world, and to develop tools to help them prepare and comply with all the laws and regulations. Our Compliance Masters […]
HUD LGBT AGREEMENT WITH BANK OF AMERICA
Recently the U.S. Department of Housing and Urban Development (HUD) announced an agreement with Bank of America (BOA) to settle a claim that the mortgage lender refused to provide financing to a lesbian couple. The agreement is the first enforcement action taken against a lender involving HUD’s recent rule ensuring that the Department’s core housing programs be open to all eligible persons, regardless of sexual orientation, gender identity, or marital status. HUD’s rule, Equal Access to Housing […]