Compliance Action, Volume 26, Number 9
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).
- 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
Updated Penalties for 2022 (chart)
The federal regulatory agencies have announced adjusted updated penalty amounts for 2022.
Fair Lending Quiz
Test your staff's knowledge of fair lending practices with a Fair Lending Quiz at your next scheduled training session.
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.
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.
- Nancy Castiglione, CRCM
- Editor Emeritus:
- Lucy H. Griffin, Esq.
- Board of Advisors:
- John S. Byrne, Esq.
Cliff E. Cook
Julie A. Gliha, MBA
Carl G. Pry
Robert G. Rowe, III, Esq.