Recently the Consumer Financial Protection Bureau (CFPB) published its Fall 2019 rulemaking agenda. The agenda identifies the regulatory matters that the CFPB reasonably anticipates having under consideration during the period from October 1, 2019 to September 30, 2020. The following summaries a few key topics: Proposed Fair Debt Collection Rule (Regulation F) – The CFPB proposed Regulation F in May 2019. Now the CFPB is testing consumer disclosures related to time-barred debt and, after testing,
Apparently another last minute approval by Congress and signature by the President has provided continued appropriations for the National Flood Insurance Program through December 20, 2019. In 30 days we play this silly game again.
On September 26, 2019 H.R 4378 provided continuation of funding for the National Flood Insurance Program (NFIP) through November 21, 2019. Now H.R. 3055, which among others items provides continuation of funding for NFIP, has passed in both the House and Senate. The House and Senate versions differed slightly and the differences are being resolved. Next the bill moves on for Presidential signature. The day is not over so Congress and the President have hours
CFPB COMMENCES TRID ASSESSMENT
Category: CFPB, Integrated Disclosures, Regulation X, Regulation Z, RESPA, TRID, Truth in Lending
On November 20 the Consumer Financial Protection Bureau (CFPB) announced that it commencing an assessment of its TRID (Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosure) rules. The CFPB intends to address the TRID Rule’s effectiveness in meeting the purposes and objectives of Title X of the Dodd-Frank Act, the specific goals of the rule, and other relevant factors. The public is invited to comment on the feasibility and effectiveness of
CFPB FEELING PRESSURE FROM NINE-YEAR DELAY IN ISSUING REGULATIONS
Category: CFPB, Dodd-Frank Act, Fair Lending
Section 1071 of the Dodd-Frank Act required the Consumer Financial Protection Bureau (CFPB) to issue rules, by July 21, 2011, to implement requirements for HMDA-like data collection and reporting for small businesses and for women-owned and minority-owned businesses. Recently the California Reinvestment Coalition, the National Association for Latino Community Asset Builders, and two individual small business owners filed suit seeking a declaration that the CFPB’s failure to issue regulations implementing Section 1071 violates the Administrative
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.