On September 10, 2021. The Consumer Financial Protection Bureau (CFPB) published its 2022 Filing Instructions Guide (FIG). The FIG is a compendium of resources to help HMDA covered financial institutions file annual HMDA data collected in 2022 with the CFPB in 2023.
On August 31, 2021, the U.S. District Court for the Western District of Texas, granted the Consumer Financial Protections Bureau’s (CFPB) motion for summary judgment in Community Financial Services Association of America, Ltd., Consumer Service Alliance of Texas v. Consumer Financial Protection Bureau [and its Director], and ordered that the August 19, 2019, compliance date of the “Payday, Vehicle Title, and Certain High-Cost Installment Loans” Rule (12 CFR Part 1041 – Regulation OO) be stayed until
On August 31, 2021, the Consumer Financial Protection Bureau (CFPB) published a 918-page notice of proposed rulemaking (NPRM) to implement Section 1071 of the Dodd-Frank Act. That section amends the Equal Credit Opportunity Act (ECOA) to require financial institutions to collect and report certain data in connection with credit applications made by women- or minority-owned businesses and small businesses. Comments on the NPRM will be due no later than 90 days after the date it
On August 27, 2021, the Federal Reserve, FDIC, and OCC released a 20-page guide intended to help community banks assess risks when considering relationships with financial technology (fintech) companies. Community banks are entering into business arrangements with fintech companies to offer enhanced products and services to their customers, increase efficiency, and reduce internal costs. The guide is intended to serve as a resource for community banks when performing due diligence on prospective relationships with fintech
On August 26, 2021, the Supreme Court of the United States (SCOTUS), in a 6 – 3 decision, rejected the Biden administration’s latest moratorium on evictions. Alabama Association of Realtors et al, v. Department of Health and Human Services, et al. The decision puts hundreds of thousands of tenants at risk of losing shelter. As discussed in our recent blog article, on August 3, 2021, the Centers for Disease Control and Prevention (CDC) issued a
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