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THE CFPB INHERITS REGULATIONS J, K, & L

Posted by jholzknecht on  January 11, 2012
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The Interstate Land Sales Full Disclosure Act (ILSA) protects consumers by requiring certain land developers to register their plans and to provide prescribed disclosures to prospective purchasers. Developers of subdivisions with one hundred or more nonexempt lots, and developers of condominiums with one hundred or more nonexempt units, must register development plans with the Federal regulator designated by ILSA. These developers must also provide purchasers with a comprehensive disclosure statement known as a property report

THE CFPB INHERITS REGULATION I

Posted by jholzknecht on  January 10, 2012
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Category: CFPB, Dodd-Frank Act
The Federal Deposit Insurance Act (FDIA) established the Federal Deposit Insurance Corporation which must insure the deposits of banks and savings associations entitled to the benefits of insurance under the FDIA. Not all depository institutions are required to maintain Federal deposit insurance. The FDIA requires that depository institutions lacking Federal deposit insurance make certain insurance-related disclosures in periodic statements, account records, locations where deposits are normally received, and advertising.  The FDIA also requires such depository institutions
The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act) provides for the licensing and/or registration of mortgage loan originators. The SAFE Act requires mortgage loan originators to register with the Nationwide Mortgage Licensing System and Registry, obtain a unique identifier, and maintain this registration. The SAFE Act further requires states to adopt minimum standards for licensing residential mortgage loan originators. The Federal registration requirements of the SAFE Act have been implemented

THANK YOU

Posted by jholzknecht on  January 7, 2012
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Category: Uncategorized
I just finished viewing the annual statistics for my blog. The major statistic I monitor is average views per day. For 2011 this number was almost three times greater than for 2010. I enjoy writing the articles. The effort benefits all aspects of my work at Pegasus Educational Services and at Compliance Resource. But it is very gratifying to see that more and more of you have discovered the benefits of this blog. I hope
The Fair Debt Collection Practices Act (FDCPA) was enacted to eliminate abusive debt collection practices by debt collectors, to insure that those debt collectors who refrain from using abusive debt collection practices are not competitively disadvantaged, and to promote consistent state action to protect consumers against debt collection abuses. Prior to July 21, 2011, the FDCPA provided that the Federal Trade Commission (Commission) must by regulation exempt from the FDCPA requirements any class of debt
Why we blog . . .

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.