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Compliance Action, Volume 25, Number 7

November 30, 2020

Laboring Over LIBOR (8 Action Steps)

By Nancy Castiglione, CRCM

The banking regulatory agencies have issued a joint Statement on Reference Rates for Loans that advises they are not endorsing any specific replacement rate for LIBOR for loans.

Compliance Notes

Action Training
Thresholds and Exemption Levels

By Nancy Castiglione, CRCM

The CFPB has recently updated some more of the thresholds and exemption levels for 2021 that should be added to your procedures and training.

Qualified Mortgages: Current Status

By Nancy Castiglione, CRCM

Ending a year that seen a lot of activity in Qualified Mortgages regulation, the CFPB has issued three proposed amendments to Regulation Z that impacts Qualified Mortgages.

Compliance Calendar

In the Editor's Opinion
Can’t We Have It Both Ways?

By Nancy Castiglione, CRCM

A policy statement or guidance document can guide your practices but it can also lead to an enforcement action or violation for failure to follow that same policy statement or guidance document.

Bureau’s Advisory Opinions Policy (2 Action Steps)

By Nancy Castiglione, CRCM

The CFPB has issued a final Advisory Opinions Policy that outlines the Bureau’s process for accepting and issuing advisory opinions.

Federal Reserve
Supervisory Priorities for Fed-Supervised Institutions

By Nancy Castiglione, CRCM

The Federal Reserve’s Supervision and Regulation Report identifies the current supervisory priorities for large institutions under the Fed's supervision.

Compliance Online

Nancy Castiglione, CRCM
Editor Emeritus:
Lucy H. Griffin, Esq.
Board of Advisors:
John S. Byrne, Esq.
Cliff E. Cook
David Dickinson
Julie A. Gliha, MBA
Carl G. Pry
Susan Rich
Meg Sczyrba
Robert G. Rowe, III, Esq.
Andy Zavoina

Compliance Action

Bankers' Hotline

Compliance Action