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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

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

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

On January 13, 2017 the Department of Justice (DOJ) filed a lawsuit against KleinBank alleging that the bank engaged in unlawful “redlining” of majority-minority neighborhoods in the Minneapolis-St. Paul metropolitan area.  The lawsuit, filed in the U.S. District Court for the District of Minnesota, alleges that KleinBank violated the Fair Housing Act and Equal Credit Opportunity Act, which prohibit financial institutions from discriminating on the basis of race and color in their mortgage lending practices.  The complaint