News & Analysis as of

Final Rules Home Mortgage Disclosure Act

Nutter McClennen & Fish LLP

Nutter Bank Report: June 2024

The CFPB, as part of its initiative to accelerate the shift to open banking in the United States, issued a final rule on June 5 that outlines the qualifications to become a recognized industry standard setting body, which can...more

Ballard Spahr LLP

Plaintiffs and intervenors file summary judgment motion in Texas lawsuit challenging CFPB small business data collection rule

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The plaintiffs and intervenors in the lawsuit filed in a Texas federal district court challenging the CFPB’s final small business lending rule implementing Section 1071 of Dodd-Frank (Rule) have filed a consolidated motion...more

Ballard Spahr LLP

CFPB Adjusts HMDA and HPML Asset Exemption Thresholds (UPDATED)

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The CFPB recently issued a final rule increasing the asset exemption threshold under the Home Mortgage Disclosure Act (HMDA) and a final rule increasing the asset exemption threshold for the Truth in Lending Act (TILA)...more

Davis Wright Tremaine LLP

Banking and Consumer Regulatory Digest - October 2023

The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically focusing on:...more

Nutter McClennen & Fish LLP

Nutter Bank Report: July 2023

The Federal Reserve has announced that its FedNowSM Service, a new interbank settlement service with clearing functionality to support instant payments, went live on July 20 with 35 early-adopting banks and credit unions. The...more

Goodwin

CFPB Finalizes Small Business Lending Data Rule

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On March 30, 2023, the Consumer Financial Protection Bureau (CFPB) released its small business lending data collection and reporting rule, required by Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection...more

Womble Bond Dickinson

Consumer Financial Protection Bureau Finalizes Rule for Small Business Data Collection and Expands List to Exempt Lending Products...

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The Consumer Financial Protection Bureau (CFPB) issued its final rule on March 30, 2023, under Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Section 1071 is an amendment to the Equal Credit...more

Bradley Arant Boult Cummings LLP

After (Another) Unusual Year, We’re Very Thankful and Wish You a Happy Thanksgiving

Now that the pandemic’s “social distancing” is lessening, we hope you are all able to gather with friends and family this Thanksgiving. As we do the same, we wanted to count our blessings as we review the year. This year, we...more

Hudson Cook, LLP

CFPB Bites of the Month - November Top 10

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Each month, we host a 30-minute webinar outlining the month's key announcements and takeaways from the CFPB to be considered by financial services providers. In this month's article, we share our top "bites" covered during...more

Bradley Arant Boult Cummings LLP

OCC Releases Final True Lender Rule

On October 27, 2020, the OCC released its final True Lender Rule. As discussed earlier on this blog, the OCC’s rule is designed to clarify the “true lender” doctrine, a legal test utilized by courts and regulators to...more

Orrick - Finance 20/20

FHFA Publishes Final Rule on the FHLBanks’ Housing Goals

Orrick - Finance 20/20 on

On June 3, the Federal Housing Finance Agency (FHFA) sent for publication a final rule on the Federal Home Loan Banks’ Housing Goals, which eliminates the retrospective evaluation using HMDA data and set a single prospective...more

Buchalter

Buchalter Client Alert COVID-19: New HMDA Final Rule Raises Loan Origination Reporting Threshold; Particular Significance for...

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On April 16, the CFPB issued a HMDA final rule increasing the number of closed-end mortgage loans and/or open-end mortgage loans an institution must originate before it meets HMDA’s coverage thresholds. Effective July 1,...more

Goodwin

Financial Services Weekly Roundup: April (Liquidity) Showers Bring May Borrower Protection

Goodwin on

In this Issue: Senate Votes to Expand Paycheck Protection Program; FHFA (Finally) Addresses Liquidity Concerns for Mortgage Servicers. Yesterday, the U.S. Senate unanimously passed legislation providing $484 billion in...more

Ballard Spahr LLP

CFPB Updates HMDA Guide

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As previously reported, in October 2019 the CFPB issued a final rule under the Home Mortgage Disclosure Act (HMDA) to...more

Smith Debnam Narron Drake Saintsing & Myers,...

CFPB’s Rulemaking Agenda Provides Glimpse into 2020

The CFPB’s 2020 Rulemaking Agenda provides a preview of the Bureau’s intended rulemaking activities for 2020. Here are the highlights of what we can look forward to in 2020: Business Lending Data (Pre-rule Stage): Under...more

Ballard Spahr LLP

CFPB Issues Final HMDA Rule (2019 Update)

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The CFPB recently issued in final form two elements of a May 2019 Home Mortgage Disclosure Act (HMDA) proposed rule. As previously reported, the May 2019 proposal would...more

Nutter McClennen & Fish LLP

Nutter Bank Report: May 2019 

OCC Adopts Final Rule to Allow Federal Thrifts to Exercise National Bank Powers The OCC has issued a final rule that will allow federal savings associations with total consolidated assets of $20 billion or less as of...more

Nutter McClennen & Fish LLP

Nutter Bank Report, July 2017

CFPB Arbitration Rule Will Prevent Firms From Blocking Class Action Lawsuits - The CFPB has approved a new rule that will prohibit banks and other covered providers of certain consumer financial products and services from...more

Poyner Spruill LLP

HMDA Changes - The Final Rule and Fair Lending

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The Home Mortgage Disclosure Act (HMDA), passed by Congress in 1975, requires the collection, recording, reporting and public disclosure of residential mortgage lending activity. The traditional focus of HMDA compliance has...more

Ballard Spahr LLP

Final HMDA rule makes significant changes

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As we previously reported, the CFPB has issued a final rule amending Regulation C, which implements the Home Mortgage Disclosure Act. The final rule makes many significant changes, including changes to the rule’s coverage and...more

Manatt, Phelps & Phillips, LLP

Reporting for Duty: HMDA Regs Finalized

Why it matters Reporting requirements for financial institutions under the Home Mortgage Disclosure Act (HMDA) regulations were finalized by the Consumer Financial Protection Bureau (CFPB), with most provisions of the...more

Orrick - Finance 20/20

CFPB Finalizes Rule to Improve Information About Access to Credit in the Mortgage Market

Orrick - Finance 20/20 on

On October 15, 2015, the Consumer Financial Protection Bureau issued a final rule that revised the reporting requirements under the Home Mortgage Disclosure Act. Most of these changes take effect on January 1, 2018....more

Ballard Spahr LLP

Final HMDA rule makes significant changes

Ballard Spahr LLP on

As we previously reported, the CFPB has issued a final rule amending Regulation C, which implements the Home Mortgage Disclosure Act. The final rule makes many significant changes, including changes to the rule’s coverage and...more

WilmerHale

CFPB Issues Final Rule to Improve Information About Access to Credit in the Mortgage Market

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On October 15, 2015, the Consumer Financial Protection Bureau (CFPB) issued a final rule to implement amendments to the Home Mortgage Disclosure Act (HMDA) made by the Dodd-Frank Wall Street Reform and Consumer Protection...more

Goodwin

CFPB Issues New Mortgage Disclosure Rule

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On October 15, 2015, the Consumer Financial Protection Bureau (CFPB) issued a final rule amending Regulation C, which implements the Home Mortgage Disclosure Act (HMDA). At nearly 800 pages, the new HMDA rule changes (i) the...more

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