Daylight Saving Time (DST) begins on Sunday March 13, 2022 at 2:00 a.m. It ends on November 6, 2022 at 2:00 a.m. What does DT have to do with TRID? The TRID rules under Regulation Z require creditors to disclose the time zone applicable to its location when disclosing the date and time the interest rate lock and estimate of closing costs will expire on the loan estimate. As a result, financial institutions located in
On February 17, 2022, the Senate approved a stopgap bill to avert a shutdown at the end of the week ahead of a looming Friday deadline when government funding has been set to expire. The House of Representatives voted last week on a bipartisan basis to approve the measure, known as a continuing resolution, to extend funding through March 11. Now that the Senate has passed the measure it can be sent to President Joe Biden’s desk
Recently, the Federal Reserve board introduced a Synthetic Identity Fraud Mitigation Toolkits. The free toolkit consists of four modulus that provide a quick introduction to the topic. Synthetic Identity Fraud: The Basics– explains what synthetic identity fraud is, why you should care, and why fraudsters commit this type of fraud. How Synthetic Identities are Used– describes what is hiding in your portfolio and how fraudsters use synthetics to commit fraud and increase their payouts. When
CFPB 2022 HMDA REPORTABLE DATA CHART
Category: CFPB, HMDA, Regulation C
The CFPB recently posted the Reportable HMDA Data: A Regulatory and Reporting Overview Reference Chart for HMDA Data Collected in 2022, a 38-page reference chart covering each of the data points required to be collected, recorded, and reported under Regulation C. The chart is a reference tool for data points required to be collected, recorded, and reported under Regulation C. Relevant regulation and commentary sections are provided for ease of reference. The chart also incorporates the
On February 7, 2022, FDIC Acting Chairman Martin J. Gruenberg released a statement of the FDIC’s priorities for the coming year. Among other items, the list includes: Strengthen Community Reinvestment Act (CRA): The federal banking agencies – the Federal Reserve, the Comptroller of the Currency, and the FDIC – have been working on a major revision of the rule implementing CRA. CRA requires banks to meet the credit needs of all the communities they serve, including
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