On October 29, 2019 the Department of Agriculture announced that it is publishing interim final rules to implement a domestic hemp production program, as mandated by the 2018 farm bill. The new program allows farmers to grow hemp in every state and on reservation land. Products that contain CBD (cannabidiol) oil, a side product of hemp, will also be more readily available. The rule outlines provisions for the Department of Agriculture (USDA) to approve plans […]
Month: October 2019
FTC REPORT ON FINANCIAL EXPLOITATION
On October 23, 2019 the Federal Trade Commission (FTC) published a press release regarding their report to Congress entitled Protecting Older Consumers 2018-2019: A Report of the Federal Trade Commission. The 40-page report outlines the FTC’s research, law enforcement, and education efforts aimed at protecting older consumers. The report includes analysis of FTC consumer complaint data. In 2018, as in 2017, adults aged 60 and older were less likely than younger adults (aged 20 to […]
NMLS REGISTRATION RENEWAL BEGINS NOVEMBER 1
It’s that time of year again…the National Multistate Licensing System and Registry’s (NMLS) 2019 renewal period begins November 1 and continues through December 31. All Mortgage Loan Originators (MLO), as defined in Regulation G, 12 C.F.R. 1007, who are registered with the Registry are required to complete the annual registration renewal. One exception to the renewal requirement is for MLOs who completed their initial registration with the Registry less than 6 months prior to the end […]
FINAL HMDA REVISIONS PUBLISHED
On October 10 the Consumer Financial Protection Bureau (CFPB) published a rule that completes portions of the proposed rule, issued last May, to revise the Regulation C coverage thresholds and complete partial Economic Growth, Regulatory Relief and Consumer Protection Act (EGRRCPA) exemptions.. The good news is the final rule: Extends for another two years, until January 1, 2022, the current temporary coverage threshold of 500 open-end lines of credit. For data collection years 2020 and […]
EFFECTIVE DATE FOR $400,000 RESIDENTIAL APPRAISAL THRESHOLD
The previously announced $400,000 residential appraisal threshold is effective today (October 9, 2019) following publication of the final rule in yesterday’s Federal Register.