Comments due on Fed proposal to repeal its S.A.F.E. Act regulations

The Federal Reserve Board has requested public comment on a proposal to amend Regulation H and Regulation K to repeal provisions that incorporate the Secure and Fair Enforcement for Mortgage Licensing Act (S.A.F.E. Act). The proposal reflects the transfer of the Board's rulemaking authority for the S.A.F.E. Act to the Bureau of Consumer Financial Protection. Entities that were subject to the Board's rules are now subject to the Bureau's rules. Comments on the proposal will be accepted for 60 days following publication in the Federal Register.

UPDATE: The proposal was published at 83 FR 48402 on 9/25/2018. Comments are due by 11/26/18.