I have the distinct privilege of representing Compliance Resource at this year’s ABA Regulatory Compliance Conference (RCC) in Nashville, TN. I thought it may be nice to provide you a series of blog articles written from the perspective of a first time attendee. I hope that you enjoy sharing in my simultaneous excitement and misery! I left Louisville, Ky at 7:00 AM Sunday morning. That is earlier than I am typically up and moving, but
ABA REGULATORY COMPLIANCE CONFERENCE
Category: ABA RCC
The ABA Regulatory Compliance Conference (RCC) got under way this weekend. A record-setting 2,035 compliance geeks are in attendance at the Music City Center in Nashville, TN through Wednesday. The RCC is always a great opportunity to make new friends and to reconnect with old ones. As is typical there are more training sessions that any one person can possibly cover. Attendees have to pick their shots. Interesting topic titles this year include: My Lines
EGRRCPA APPRAISAL RELIEF
Category: Appraisals, EGRRCPA
Section 103 of the Economic Growth, Regulatory Relief and Consumer Protection Act, which was signed on May 24, 2018, provides limited relief from appraisal requirements for certain loans. An appraisal in connection with a federally related transaction involving real property or an interest in real property is not required if: * the real property or interest in real property is located in a rural area; * not later than 3 days after the date on
Volcker Rule Reprieve
Category: Federal Reserve Board
On May 30 the Federal Reserve Board approved provisions to simplify the Volcker Rule. The revisions keep the core of the Volcker Rule intact and continue to prevent banks from trading with depositors’ money. The rule, which was enacted as part of the 2010 Dodd-Frank law, took five regulatory agencies more than three years to write. After five years of experience the agencies have proposed a three-tiered approach that places the heaviest burden on those
The House of Representatives has passed the Economic Growth, Regulatory Relief and Consumer Protection Act (EGRRCPA). The House version is an identical copy of the Senate bill (S 2155) which now goes to the President for signature. The bill covers a lot of territory. The compliance provisions of EGRRCPA: Provide partial relief from the new HMDA disclosures added by the Dodd-Frank Act for small volume originators (fewer than 500 closed end/500 open-end loans for each
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The ever-changing laws, regulations, proposals, deadlines, and guidance are a lot for anyone to manage and keep up with so let us do the work for you. Our blog is designed to help compliance professionals by releasing updates as soon as the news breaks. Our Compliance Resource team is researching, following, and monitoring government agencies and regulators to give you all the latest and greatest compliance news. Our goal is to work harder so you don’t have to.