Final Regulation Summaries

The National Credit Union Administration (NCUA) has issued its final rule, as proposed, with respect to regulations governing corporate credit unions (corporates) and the scope of their activities.

NCUA finalized changes to the Overhead Transfer Rate (OTR) methodology, which is used to calculate how much of the agency's operating budget is funded by the Share Insurance Fund.

The Consumer Financial Protection Bureau (CFPB) has issued its final rule amending the Equal Credit Opportunity Act (Regulation B) to facilitate compliance with the Home Mortgage Disclosure Act (Regulation C) 2015 final rule and transition to the redesigned Uniform Residential Loan Application (URLA).

The National Credit Union Administration (NCUA) Board has approved a final rule regarding the appeals process. The NCUA Board seeks to promote efficiency, consistency, and transparency in the appeals process to the Board by developing a uniform set of procedures to govern all rules in which an appeal to the Board is permitted.

The National Credit Union Administration (NCUA) Board has approved a final rule regarding the appeals process of material supervisory decisions (MSD) to the Supervisory Review Committee (SRC).

Final regulation summary of the CFPB's Payday, Vehicle Title, and Certain High-Cost Installment Loans rule.

On September 11, 2017, the Department of the Treasury, Bureau of the Fiscal Service (Fiscal Service) issued a final rule to address changes that NACHA – The Electronic Payments Association (NACHA) made to its operating rules since the publication of the 2013 NACHA Operating Rules & Guidelines book.

The Consumer Financial Protection Bureau (CFPB) is amending its 2015 Home Mortgage Disclosure (Regulation C) rule. The final rule incorporates changes introduced in the April 2017 HMDA proposal (technical clarifications) and the July 2017 HMDA proposal (transactional thresholds for reporting open-end lines of credit).

Final regulation summary for the CFPB's TRID "fix" final rule.

The Consumer Financial Protection Bureau (CFPB) has issued its final rule with respect to arbitration agreements in contracts for consumer financial products and services.

The National Credit Union Administration (NCUA) has issued its final rule with respect to the NCUA Board's treatment of financial assets transferred by a credit union in connection with a securitization or participation.

The Board of Governors of the Federal Reserve (the Board) issued a final rule that amends subparts A, C, and D of Regulation CC, Availability of Funds and Collection of Checks, which implements the Expedited Funds Availability Act of 1987 (EFA Act), the Check Clearing for the 21st Century Act of 2003 (Check 21 Act), and the official staff commentary to the regulation.

The Federal Financial Institutions Examination Council (FFIEC) has finalized an update to the Consumer Compliance Rating System (CC Rating System) for the first time since 1980.

The Federal Housing Finance Agency (FHFA) has issued a final rule requiring Fannie Mae and Freddie Mac (the Enterprises) to adopt plans to serve three specified underserved markets – manufactured housing, affordable housing preservation, and rural markets.

The Federal Housing Finance Agency (FHFA) has issued a final rule regarding the regulations governing the Federal Home Loan Banks’ (FHLBs) Acquired Member Asset (AMA) programs.

The National Credit Union Administration (NCUA) has issued a final rule regarding Federal Credit Union (FCU) ownership and use of fixed assets, eliminating the full occupancy requirement in the current rule.

The Consumer Financial Protection Bureau (CFPB) finalized amendments to the 2013, mortgage servicing rules under the Truth in Lending Act (Regulation Z) and the Real Estate Settlement Procedures Act (Regulation X).

The Consumer Financial Protection Bureau (CFPB) is proposing new federal consumer protections for the prepaid market under Regulations E and Z.

The National Credit Union Administration (NCUA) has finalized a rule that will modernize its chartering and field of membership regulations. The final rule makes substantive changes to all three charter types.

The Department of Labor (DOL) finalized overtime provisions of the Fair Labor Standards Act (FLSA) to allow any full-time salaried employees making less than $913 per week, or $47,476 annually, to be eligible for overtime protections.

FinCEN’s finalized customer due diligence (CDD) rule will require credit unions to identify and verify the beneficial owner(s) of legal entity accounts, subject to certain exceptions.