FLOOD INSURANCE UPDATE
Category: Flood Insurance
Earlier today the President signed House Joint Resolution 143 that extends the National Flood Insurance Program through December 21, 2018. We will continue to watch Congress. We expect Congress to continue to “kick the can down the road.” rather than take meaning action to fix the problems in the Program.
The following was originally drafted on December 4, 2018. As we reported last summer, Flood Insurance – Congress Continues to Play Games, the National Flood Insurance Program Extension Act extended the National Flood Insurance Program (NFIP) until November 30, 2018. This was the sixth short-term extension of the NFIP. The NFIP was originally set to expire on September 30, 2017. On September 8, 2017, Congress passed a short-term extension set to expire on December 8,
WHERE IS THE CFPB HEADED NOW?
Category: CFPB
On December 6, 2018 the Senate voted 50-49 to confirm Kathy Kraninger as the new Director of the Consumer Financial Protection Bureau (CFPB). She has no experience leading a government agency, no experience in financial institution regulatory matters, and no experience in consumer protection. So, there is no track record upon which to speculate about the direction of the agency with her holding the reins. Let’s enjoy the Holiday season, watch Director Kraninger’s first steps
Regulations Z, M and HPML Appraisal Thresholds Adjusted for 2019
Category: Regulation M, Regulation Z
On November 23, 2018 federal banking agencies released two threshold adjustments for 2019, the Regulation Z and M exemption thresholds and the HPML appraisal threshold. Regulation Z and M Exemption Threshold: The Board of Governors of the Federal Reserve System (the Board) and the Bureau of Consumer Financial Protection (the Bureau) published final rules amending commentary and interpretations of their regulations which implement the Truth in Lending Act and Consumer Leasing Act, including the Bureau’s
AGENCIES PROPOSE AMENDMENTS TO REGULATIONS CC AND DD
Category: Dodd-Frank Act, EGRRCPA, Regulation CC, Regulation DD
On November 21, 2018 the Bureau of Consumer Financial Protection (the Bureau) and the Federal Reserve Board (FRB), collectively the Agencies, proposed amendments to Regulation CC, the implementing regulation for the Expedited Funds Availability (EFA) Act, that would allow for adjustments in amount of funds depository institutions must make available to customers. The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) amended the EFA Act giving joint rulemaking authority to the Bureau and
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.