Proposed Regulations

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.

Currently, only a state supervisory authority (SSA) may declare a federally insured, state charted credit union (FISCU) to be in “troubled condition.”

The proposed rule would impose new requirements on federally-insured credit unions (FICUs) regarding access to emergency liquidity. The proposal is being issued in advance of the winding down and closing of U.S. Central Bridge Corporate Credit Union, which will redeem the Central Liquidity Facility (CLF) stock it current holds on behalf of a vast majority of FICUs.

The proposal will expand HOEPA coverage to most types of mortgages secured by a consumer's principal dwelling, including purchase money mortgage loans (or seller financing), refinances, closed-end home equity loans and open-end credit plans. Reverse mortgages are not covered by the proposed rule.

CFPB has issued a proposed rule that would combine the mortgage disclosures that credit unions currently provide under the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act of 1974 (RESPA).

The CFPB has issued a proposed rule that would combine the mortgage disclosures that credit unions currently provide under the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act of 1974 (RESPA).

The Bureau of Consumer Financial Protection (CFPB) has issued a Request for Information on financial exploitation of individuals aged 62 or older (seniors).

The Consumer Financial Protection Bureau (CFPB) recently established a database, available to the public, which provides certain information that the Bureau receives regarding credit card complaints.

The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) directs the CFPB to promulgate rules that require lenders to determine a consumer's ability to repay a mortgage before making a loan. Loans that satisfy the rule would be termed “qualified mortgages” and lenders would receive some special protections for loans that fall within that definition.

The Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act) provides the Consumer Financial Protection Bureau (CFBP) authority to supervise nonbank entities that provide financial services if the Bureau determines, by order, after notice and an opportunity to respond, that the entity is engaging in conduct that poses risks to consumers with regard to the provision of financial services.

The NCUA conducts a review of one-third of its existing regulations on an annual basis, and has published the list of regulation it is reviewing for 2012.

NACHA has issued a Request for Comment (RFC) that builds on a Request for Information it issued in 2011 on ACH Security Framework.

The Consumer Financial Protection Bureau (CFPB) is conducting a study on the use of arbitration agreements in connection with financial services and products.

FinCEN is considering expanding the reach of its regulations that require a customer due diligence (CDD) program.

The proposal would clarify that an entity that submits information to the CFPB in the course of its supervisory or regulatory processes does not waive any privilege the entity may claim with respect to that information.