Compliance Action, Volume 26, Number 9

HUD
Special Purpose Credit Programs

By Nancy Castiglione, CRCM

A recent HUD opinion and an Advisory Opinion issued by the CFPB indicates that regulators are encouraging greater use and acceptance of Special Purpose Credit Programs (SPCPs).

Compliance Notes

• SAFE Act Education Requirements for Loan Originators
• FDIC Simplification of Trust Account Insurance Coverage and Mortgage Servicing Accounts
• QM Definition for Credit Risk Retention Regulation
• FinCEN Adjusts Civil Money Penalty Amounts for 2022
• Proposed SAR Sharing Pilot Program for Foreign Branches, Subsidiaries and Affiliates
• FRB Extension of Consumer Protection in Sales of Insurance Regulation
• CFPB Semiannual Regulatory Agenda

Regulation
Updated Penalties for 2022 (chart)

By Nancy Castiglione, CRCM

The federal regulatory agencies have announced adjusted updated penalty amounts for 2022.

Action Training
Fair Lending Quiz

By Nancy Castiglione, CRCM

Test your staff's knowledge of fair lending practices with a Fair Lending Quiz at your next scheduled training session.

Compliance Calendar

Editorial
What’s in Store for 2022? Is it More of the Same?

By Nancy Castiglione, CRCM

While the beginning of the year is traditionally the time to look ahead at what the new year may bring in terms new developments, changes, and new goals, after a review of news and reports from the major Federal regulators, 2022 may not be much different than 2021.

NDAA
National Defense Authorization Act for 2022 (3 Action Steps)

By Nancy Castiglione, CRCM

The National Defense Authorization Act (NDAA) for Fiscal Year 2022 that was passed by Presidential signature on December 27, 2021 is more than just a military spending bill. It also contains amendments to or ammendments that impact several bank compliance regulations.

Compliance Online
Climate Change