The Consumer Financial Protection Bureau (CFPB) released proposed amendments to the ability-to-repay rule. Also in today’s Anthem: Legal Briefs, and the Question of the Week: “When advertising a loan product, if I want to disclose the APR, what else am I required to disclose?”
Is your credit union in compliance with the Affordable Care Act’s final requirements for a 90-day waiting period, which were released Feb. 20? Brown & Brown of Washington, which manages The Trust, explains the regulations.
The NCUA approved the Final Rule on Loan Participations during its board meeting Thursday. The NWCUA compliance team breaks down new details on the rule.
The weekly Regulatory Advocacy Update outlines the NWCUA’s efforts to reduce the regulatory burden on credit unions and protect the larger movement. Included here are updates on the CFPB’s overdraft input initiative and proposal to revise Reg Z.
The NCUA proposed rules on loan participations and the restructuring of RegFlex, and it issued an Advanced Notice of Proposed Rulemaking on emergency liquidity at its board meeting last week.
The FHFA announced that the maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2012 will remain at 2011 levels in all but one U.S. county.
NCUA Board Chairman Debbie Matz launched a â€œRegulatory Modernization Initiativeâ€ to keep credit unions safe and sound while relieving regulatory burdens. The initiative will introduce new rules, revise existing rules and establish several regulatory relief efforts.
The Federal Housing Administration (FHA) announced this week that the insurance limit in the highest-cost areas of the country will be reduced starting on Oct. 1. Loan limits in most other parts of the nation will remain unchanged.
Your update on the regulatory landscape.
The clarifications relate to the Fed’s final rule and are intended to help card issuers understand their compliance obligations under changes to Regulation Z.
Legislation is moving in Olympia to close down an important bank tax exemption, while a citizen initiative that would end all Washington State tax exemption is looking for signatures.
Late Tuesday morning, June 15, the Federal Reserve Board published the final rules implementing the third (and last) phase of the Credit CARD Act. The rules are effective on August 22, 2010.