In the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) of 2010, Congress directed the Consumer Financial Protection Bureau (CFPB) to adopt regulations that will govern data collection for small business and agricultural lending.
On June 27, 2022, the Office of Management and Budget published the Spring 2022 Unified Agenda of Federal Regulatory and Deregulatory Actions. The Agenda breaks down rules from over 60 federal departments, agencies, and commissions.
On November 17, 2021, the Office of the Comptroller of the Currency (OCC), Treasury; the Board of Governors of the Federal Reserve System (Board); and the Federal Deposit Insurance Corporation (FDIC) released a final rule that requires a banking organization to notify its primary federal regulator of any “computer-security incident” that rises to the level of a “notification incident,” as soon as possible and no later than 36 hours after the banking organization determines that a notification incident has occurred.
On October 5, 2020, the Navy Federal Credit Union agreed to settle a class action suit for $16 million that will reimburse an estimated 700,000 current and former...
Apparently another last minute approval by Congress and signature by the President has provided continued appropriations for the National Flood Insurance Program through...
The Federal Trade Commission (FTC) announced that Google LLC and its subsidiary YouTube, LLC have settled with the FTC and New York Attorney General over allegations that YouTube illegally collected personal information from children without their parents’ consent in violation of the Children’s Online Privacy Protection Act (COPPA). The complaint alleges the personal information collected was from viewers of child-directed channels in the form of persistent identifiers used to track internet usage, commonly known as cookies. According to the complaint, use of these cookies to deliver targeted ads to viewers of these channels resulted in YouTube earning millions of dollars.
Per the settlement Google and YouTube:
The Protecting Tenants at Foreclosure Act of 2009 (PTFA) was enacted on May 20, 2009. The major provision of the PTFA was to ensure protection from eviction for tenants...
Recently we polled our Compliance Master Group members on the Ability-to-Repay/Qualified Mortgages rules. There were no huge surprises, but we got a lot of confirmation of what we expected to see:
The appraisal rules contained in Regulation B were revised on January 18, 2013. The revisions are effective on January 18, 2014. Among other requirements, the revised regulation requires that:
Fannie Mae has developed a new Uniform Residential Loan Application form (Fannie Mae Form 1003 – revised 6/09). Use of the new form is required for applications taken on...