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When Is Reg CC Going to Change?

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Question: 
When is Reg CC going to change? I went to a seminar and the instructor stated June 1st. I have not heard anything else about this.
Answer: 

Believe me when I say "I wish I knew." I cannot imagine where that instructor got that information. It's already past June 1, and we would have seen final regulations a long time before that date! We've seen indications from the Federal Reserve Board and the Consumer Financial Protection Bureau that there may be something out by the end of 2014 (Federal Reserve's calendar) or mid-2015 (CFPB's reports). It could conceivably arrive in separate pieces, since the Fed can change parts of the regulation without Bureau's involvement.

All I know for certain is that we'll have a prominent story in BOL's Top Stories as soon as we hear anything.

First published on 06/23/2014

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