CFPB clarifies Escrows Final Rule
The Bureau has issued aFinal Rule clarifying and making amendments to its previously issued 2013 Escrows Final Rule. The new final rule will be final unless a later final rule is issued. The new final rule establishes a temporary provision to ensure existing protections remain in place for higher-priced mortgage loans until the expanded provisions take effect in January 2014 and clarifies how to determine whether or not a county is considered "rural" or "underserved" for purposes of applying an exemption.

The Rise of Organized Financial Crime: The New Mafia Join Verafin for a co-hosted ACAMS webinar rebroadcast with retired FBI Executive, Chris Swecker. This session provides a revealing 'walk-through' of the inner workings of today's organized financial crime enterprise. It illustrates how these virtual, viral and technologically-savvy organizations mimic the sophistication and best practices of the most progressive 21st century business models. This rebroadcast qualifies for 1 CAMS credit. Register now.

2013 Final List of rural and underserved counties
The CFPB has issued a final list determining both rural and underserved county status regarding the Escrows Rule based on the proposed rule posted by the Bureau on March 12, 2013. Because the methods for determining rural and underserved status have not changed from the proposed rule, this final list is identical to the preliminary list posted on March 12. Some counties' status as rural or non-rural may change from the 2013 list to the 2014 list because of updated information from the 2010 Census.

Latest Trends in BSA/AML Thursday, May 30 at 2:00–2:30 p.m. Eastern Join us for a free 30-minute webinar to examine what we are hearing from our clients regarding the latest trends in BSA/AML. Topics that will be discussed include issues related to banking third party payment processors and what we are hearing from the regulators! Register here.

June 2013 HOEPA rates established
The Federal Reserve has posted the new reference rates that lenders must use to determine if loans for certain applications received in June 2013 will be subject to HOEPA under the APR trigger test. Use the FRB H.15 of selected interest rates to find the applicable release that lists the Treasury security with the same maturity term as your loan. To make the calculation, use the yield in effect on the 15th of the month that precedes the month you received the application.

Take 15 Minutes for Fair Lending Fair Lending Risk has increased since the November election. Regulators, DOJ and CFPB have made Fair Lending, CRA, and HMDA a Top Priority for 2013. Your best defense is Fair Lending Loan Analysis, CRA Analysis, and Risk Assessment. Request a FREE Denial Disparity Report and let TRUPOINT show you how to address Fair Lending in no time.

More OFAC SDN Designations
Treasury has announced the designation of four senior officials of the Syrian government; one airline responsible for transporting weaponry to the Assad regime; and one privately owned television station for providing services to the Syrian government. To date, the United States has imposed sanctions on the Government of Syria, including its Central Bank and oil companies, and more than 100 individuals and entities under a number of our authorities. Information concerning the designations has been posted on the BOL OFAC Update Page.

In mid-March, a major bank announced a settlement requiring them to make their mobile applications ADA Compliant. A single user complaint resulted in a major legal incident. Has your bank had its mobile applications evaluated? Don't be at risk -- get information from the experts in mobile compliance, Deque Systems.

NCUA Board Action Bulletin
A Bulletin has been issued by NCUA regarding the actions of its Board at the May 16, 2013 meeting. The Board approved a rule giving well-managed federally insured credit unions with more than $250 million in assets limited authority to purchase specified derivatives to manage interest-rate risk upon agency approval and a series of technical amendments, including the transfer of authority under the Dodd-Frank for rulemaking for certain consumer protection laws to the CFPB.

How will Flood Insurance Reform impact you? The 2012 Flood Insurance Reform law will result in significant NFIP changes in 2013 as well as impact certain federal flood insurance regulations and fines for non-compliance. Don't wait for an audit to know if your loan portfolio is compliant—contact info@torrentcorp.com or call us at 406-756-2763 to learn how FloodAssure™ can help mitigate risk and avoid costly fines.

RATA's New ZOOM™ Internet Geocoder— The future of Geocoding today! RATA's new ZOOM Internet Geocoder offers visual confirmations from multiple sources from your web browser! No longer do you have to assume a geocode is correct, now you can ZOOM to the street or property to verify you are in the right Census Tract! It's great for Geocoding and Auditing. Click here to try ZOOM free for a month.

A $78 Tool Enables ID Verification During the Transaction? Yes. In fact, Bank of America, Wells Fargo, Chase, Citizens Bank, Regions Bank, and 1000's of other FI's already know. FraudFighter™ provides simple-to-use UV counterfeit detection products that Prevent Fraud, Save Money and Verify Identities. Easy to incorporate into your CIP/AML process. Volume Discounts!