On May 13, 2020, the Consumer Financial Protection Bureau (CFPB) issued a Statement on Supervisory and Enforcement Practices Regarding Regulation Z Billing Error Resolution Timeframes in Light of the COVID-19 Pandemic...more
On May 13, 2020, the Consumer Financial Protection Bureau (CFPB) issued two sets of FAQs. The first set of FAQs is directed to providers of checking, savings, and prepaid accounts. The second set of FAQs is directed to...more
On May 6, 2020, the Consumer Financial Protection Bureau (CFPB) issued FAQs clarifying Regulation B's application to the Small Business Administration's (SBA) Paycheck Protection Program (PPP)....more
On April 29, 2020, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule clarifying Regulation Z's bona fide personal financial emergency provisions in the context of the COVID-19 pandemic. The CFPB...more
5/7/2020
/ Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
ECOA ,
Emergency Waivers ,
Loans ,
Mortgages ,
Personal Finances ,
Regulation Z ,
Rescission ,
RESPA ,
TILA-RESPA Integrated Disclosure Rule (TRID) ,
Truth in Lending Act (TILA)
Updated on April 28, 2020 -
On April 3, the Federal Reserve, OCC, FDIC, CFPB, NCUA, and the Conference of State Bank Supervisors (Agencies) issued a joint statement intended to provide flexibility to mortgage servicers who...more
(New information added on April 17, 2020) -
As the coronavirus crisis unfolds, federal and state financial services regulatory agencies have taken multiple actions impacting banks, non-bank financial service providers, and...more
4/19/2020
/ Appraisal ,
Borrowers ,
CARES Act ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
CSBS ,
FDIC ,
FHFA ,
Loan Modifications ,
Mortgage Loan Originators ,
Mortgages ,
NCUA ,
OCC ,
Popular ,
Relief Measures
On April 13, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule regarding the application of Regulation E and the Electronic Fund Transfer Act (EFTA)'s compulsory use prohibition to CARES Act and...more
On April 1, the Consumer Financial Protection Bureau (CFPB) issued a policy statement addressing credit reporting issues faced by consumers and credit furnishers in light of the COVID-19 pandemic....more
As the coronavirus crisis unfolds, federal and state financial services regulatory agencies have taken multiple actions impacting banks, non-bank financial service providers, and their customers. Below is a summary of those...more
3/19/2020
/ Banks ,
Business Continuity Plans ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
FDIC ,
Federal Reserve ,
Lenders ,
Mortgage Loan Originators ,
NCUA ,
OCC ,
State Regulators ,
Telecommuting