Compliance NewsHub
Federal Legislation

The HMDA modified loan/application registers are available for each institution that filed HMDA data collected in 2022, providing each financial institution's loan-level HMDA data, as modified to protect applicant and borrower privacy in accordance with the Consumer Financial Protection Bureau’s final policy guidance on the disclosure of HMDA data.

The CFPB has released the 2023 HMDA Transactional and Institutional Coverage Charts updating the closed-end threshold pursuant to the United States District Court for the District of Columbia September 23, 2022, order in NCRC et al. v. CFPB.

The CFPB is conducting a review of Regulation Z’s Loan Originator Rules pursuant to section 610 of the Regulatory Flexibility Act. Regulation Z, which implements TILA, among other things, imposes certain requirements on: loan originator compensation; qualification of, and registration or licensing of, loan originators; compliance procedures for depository institutions; mandatory arbitration; and the financing of single premium credit insurance.

Today the CFPB released a special edition of the Supervisory Highlights report covering examination findings in deposits, auto servicing, mortgage servicing, and student loan servicing, as well as payday and small-dollar lending.

The Consumer Financial Protection Bureau (CFPB) is seeking in-market testing pilot program applicants as well as information from the public, consumers, lenders, and others with construction loan experience to assist in a proposal to adjust existing disclosures to better fit construction-to-permanent loan scenarios.

MBA Newslink--Bill Killmer

The House passed H.R. 1059, the SECURE Notarization Act, establishing minimum standards for electronic notarizations and remote notarizations that occur nationwide and requiring any federal court to recognize notarizations performed by a notarial officer of any state while also requiring any state to recognize notarizations performed by a notarial officer of any other state when the notarization was performed under or relates to a public act, record, or judicial proceeding of the notarial officer’s state or when the notarization occurs in or affects interstate commerce.

The Consumer Financial Protection Bureau (CFPB) has ordered nine large auto lenders to provide information about their auto lending portfolios as part of an effort to ensure that the auto lending market is fair, transparent, and competitive.

The CFPB has issued an advisory opinion “to address the applicability of the Real Estate Settlement Procedures Act (RESPA) section 8 to operators of certain digital technology platforms that enable consumers to comparison shop for mortgages and other real estate settlement services, including platforms that generate potential leads for the platform participants through consumers’ interaction with the platform (Digital Mortgage Comparison-Shopping Platforms).”

The CFPB has published the Regulatory and Reporting Overview Reference Chart for HMDA Data Collected in 2023.

The Consumer Financial Protection Bureau (CFPB) has issued an Advisory Opinion clarifying how digital mortgage comparison-shopping platforms may violate the Real Estate Settlement Procedures Act (RESPA) by steering consumers to lenders or service providers in violation of Section 8.

The Consumer Financial Protection Bureau has proposed a rule that would impose limits on the amounts of late fees charged on credit card payments.

The Financial Crimes Enforcement Network (FinCEN) issued a final rule to reflect inflation adjustments to its civil monetary penalties effective January 19, 2023.