Proposed Regulations

The CFPB has issued a proposed rule to amend two of the mortgage-related rules it issued in January 2013 – ability-to-repay/qualified mortgages and mortgage servicing.

The proposed rule would identify a market for student loan servicing and define “larger participants” of this market that would be subject to the CFPB's supervisory authority for nonbank covered persons.

The proposed rule would clarify the definitions of “rural” and “underserved” for purposes of the exemption provided in the CFPB's January 2013 rule on escrow accounts.

The Financial Standards Accounting Board has issued an Exposure Draft as a part of its major undertaking to simplify and improve reporting for financial instruments.

The NCUA is proposing to amend the rules on fixed assets to provide clarity and improve the organizational structure of the rules.

The proposal would replace the incurred loss model with a forward-looking expected loss model for recognizing and measuring credit losses.

NACHA has issued a proposed rule that addresses compliance and operational topics, with the aim of simplifying, updating and clarifying its rules on three issue areas: (1) prenotification entries; (2) notification of change codes; and (3) reclamation entries.

The proposal would require secured borrowing treatment for certain repurchase agreements and securities lending transactions where the transferor maintains effective control of the financial asset transferred.

The U.S. Small Business Administration (SBA) has issued a proposed rule aimed at increasing the pool of borrowers eligible for two key SBA programs – 7(a) and 504.

The Consumer Financial Protection Bureau (CFPB) issued a request for information (RFI) to help determine options that would increase the availability of affordable payment plans for borrowers with existing private student loans.

The CFPB is seeking information on how current and future partnerships or other arrangements between institutions of higher education (including their affiliated entities) and financial institutions could be structured to promote positive financial decision-making among young consumers.

The NCUA conducts a review of one-third of its existing regulations on an annual basis, and has published the list of regulations it is reviewing for 2013.

The Consumer Financial Protection Bureau proposed amendments to its Ability-to-Repay final rule that would provide exemptions and exceptions for certain extensions of credit.

Project Catalyst is an initiative undertaken by the CFPB pursuant to the agency's authority to encourage consumer-friendly innovation in markets for consumer financial products and services.

The Consumer Financial Protection Bureau (CFPB) is conducting a review of the consumer credit card market as required by the Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act).

Credit unions would be permitted to disclose an estimate of a foreign tax in situations where the foreign tax could be imposed based on an unknown circumstance, such as where a recipient institution is grandfathered under existing law or where the recipient has reached a transaction threshold where taxes are assessed. In such cases, the highest possible tax would be disclosed.

The Consumer Financial Protection Bureau (CFPB) is amending its regulations on credit card restrictions for spouses, partners, and persons who are twenty-one years old or older.

The NCUA has issued a proposed rule that would extend the time that credit unions have to accept a low-income designation.

The NCUA has issued an Advance Notice of Proposed Rulemaking (ANPR) seeking comments on its regulations governing payday alternative loans (PAL), also known as short-term, small amount loans.

Treasury Inflation Protected Securities (TIPS) are securities issued by the U.S. Department of Treasury of which principal increases with inflation and decreases with deflation, and upon maturity, the holder is paid the greater of the adjusted principal or original principal.

The proposed rule would amend the definition of “rural district” as the term is used in the NCUA's Chartering and Field of Membership Manual.