Proposed Regulations

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.

The proposed rule and Interpretive Ruling and Policy Statement (IRPS) would increase the asset threshold in the definition of “small entity” for purposes of providing regulatory relief under the Regulatory Flexibility Act (RFA) from $10 million to $30 million.

The proposal would implement several provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act) regarding mortgage loan originator compensation.

The NCUA, the CFPB, along with several other federal agencies, have proposed a rule that would require credit unions to comply with certain appraisal requirements.

The proposal would require creditors to provide to borrowers free copies of all written appraisals and valuations associated with a first mortgage loan.

The Consumer Financial Protection Bureau's Office of Financial Education seeks innovative and effective financial education methods to assist consumers in making better financial decisions.

The Consumer Financial Protection Bureau proposed changes to the Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA) that would alter requirements for mortgage servicers.