We are living in the time of the most overwhelming change to lending compliance rules and to the structure of the regulatory agencies that enforce the rules since civil rights and consumer protection rules were first written in the late 1960s. We hope the picture will soon develop enough so we can discern the future of compliance. While the Fed has already begun to wind down it’s regulation writing activities, as evidenced by shelving the […]
Category: Mortgage Reform and Anti-Predatory Lending Act
Dodd-Frank Wall Street Reform and Consumer Protection Act
Congress has completed the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Next, the 2,300 page bill moves to the White House for the President’s signature, which is expected by July 21st. Then the real action begins: • An entire bureaucracy must be built for the new Bureau of Financial Protection and the new Financial Stability Oversight Counsel; and • Thousands of pages of regulations will be written. An area of particular concern […]