Compliance Action, Volume 19, Number 14

RESPA and TILA: More on Servicing Rules (6 Action Steps)

By Lucy Griffin

The CFPB has published revisions to existing RESPA and TILA servicing rules to plug some loopholes and provide clarification.

Action Audit
Is Your Loan Servicing Program Working? (Checklist)

The proposed new mortgage servicing rules provides some early guidance on where problems lie. A federal register document discussing the proposal provides a checklist of issues to include in a compliance audit.

Compliance Notes

• FinCEN: Don't Dodge Risk
• OCC Chines In
• Updated BSA Manual
• Debt Brokers and Privacy
• FinCEN Goes After Credit Union
• FDIC's Video Training

Compliance Calendar

In the Editor's Opinion
Then and Now

By Lucy Griffin

Thanks to changing laws and the compliance managers who managed their implementation, we've come a long way since the crisis of 2008, even further when we consider where things were in the early 1970s. The distance we have come in four decades is much, much greater than the distance we still have to travel.

Compliance Q & A

• Denied Loss Mitigation Applications
• Disclosures Required for Modification Applications

Final Privacy Rule

The CFPB has issued a final rule on privacy disclosures that will relieve many institutions from the requirement of mailing annual privacy notices.