When the new CRA regulation was published, the term "performance context" sounded like a fact - scientific and solid. In practice, it has not been clear.
HUD's latest rulemaking on RESPA is beginning to send shock waves through the banking industry as they design compliance procedures for the new rules.
by Richard Insley
Regulatory compliance is brought to us by Congress.
A lot of banks are biding their time and watching FinCEN instead of plunging in and exempting customers using the interim procedures. Banks offer a variety of excuses for their delay.