Compliance Action, Volume 26, Number 3

RESPA
RESPA Amendments Addressing COVID Hardships (3 Action Steps)

By Nancy Castiglione, CRCM

To provide increased protections for borrowers experiencing hardships caused by the pandemic, the CFPB has ammended some of RESPA's mortgage servicing provisions.

Compliance Notes

• NCUA Rule on Capitalization of Interest
• FHFA Fair Lending Policy Statement
• OFAC Directive - Russian Harmful Foreign Activities
• OFAC Removes International Criminal Court-Related Sanctions
• HUD Re-Issues Previous Affirmatively Furthering Fair Housing Certifications
• OMB Decides Not to Change Definition of MSA
• Regulation D Rates Paid on Reserve Balances
• Joint Action on CRA Regulations

HUD
HUD’s Disparate Impact Rule 2.0 (2 Action Steps)

By Nancy Castiglione, CRCM

For the second time in less than year, HUD is changing its disparate impact rule to replace the last rule – which never actually took effect.

Action Training
Bank Secrecy Act/AML Training:
Fill-in the Blank

By Nancy Castiglione, CRCM

We've provided a downloadable, printable training tool to include in your next BSA/AML training session.

Compliance Calendar

Editorial
Fair Housing and YOU

By Nancy Castiglione, CRCM

With regulators (and the public) showing increased interest in fair lending – particularly residential mortgage lending – fair housing should be a high priority risk focus for you and your institution.

Regulation
Presidential Executive Order Promoting Competition Through Increased
Regulation (3 Action Steps)

By Nancy Castiglione, CRCM

Recent Presidential orders direct financial sector regulators is to apply fair and competitive marketplace policies to their respective regulations.

Compliance Online
National Fair Housing Alliance