Blog

HMDA FIG UPDATED

Posted by jholzknecht on  September 13, 2021
Comments Off on HMDA FIG UPDATED
Category: CFPB, HMDA, Regulation C
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.

EFFECTIVE DATE FOR THE PAYDAY LENDING RULES SET BY COURT

Posted by jholzknecht on  September 3, 2021
Comments Off on EFFECTIVE DATE FOR THE PAYDAY LENDING RULES SET BY COURT
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

CFPB PUBLISHES PROPOSAL FOR SMALL BUSINESS LOAN DATA COLLECTION AND REPORTING

Posted by jholzknecht on  September 1, 2021
Comments Off on CFPB PUBLISHES PROPOSAL FOR SMALL BUSINESS LOAN DATA COLLECTION AND REPORTING
Category: CFPB, ECOA, Regulation B
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

COMMUNITY BANK GUIDE – FINTECH DUE DILIGENCE

Posted by jholzknecht on  August 30, 2021
Comments Off on COMMUNITY BANK GUIDE – FINTECH DUE DILIGENCE
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

SCOTUS KILLS CDC EVICTION MORATORIUM

Posted by jholzknecht on  August 27, 2021
Comments Off on SCOTUS KILLS CDC EVICTION MORATORIUM
Category: SCOTUS
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

Why we blog . . .

The ever-changing laws, regulations, proposals, deadlines, and guidance are a lot for anyone to manage and keep up with so let us do the work for you. Our blog is designed to help compliance professionals by releasing updates as soon as the news breaks. Our Compliance Resource team is researching, following, and monitoring government agencies and regulators to give you all the latest and greatest compliance news. Our goal is to work harder so you don’t have to.