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Final Rules Regulation Z Truth in Lending Act (TILA)

Ballard Spahr LLP

NCLC Asks CFPB to Consider Residential Leases as Credit for Specific Purposes

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The National Consumer Law Center is asking the CFPB, by way of a petition, for rulemaking that is long on policy arguments but woefully short on legal support, as we note below, to define residential leases as “credit” under...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - July 2024 # 4

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Latham & Watkins LLP

Texas Judge Halts CFPB Rule Limiting Credit Card Late Fees

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The preliminary injunction was granted pursuant to Fifth Circuit precedent that the CFPB’s independent funding structure is unconstitutional. On May 10, 2024, the US District Court for the Northern District of Texas...more

Goodwin

The CFPB’s Final Rule Imposes Significant Restrictions on Credit Card Late Fees

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On Tuesday, March 5, 2024, the Consumer Financial Protection Bureau (CFPB) issued a final rule (Final Rule) which amends provisions of Regulation Z, which implements the Truth in Lending Act (TILA). ...more

Davis Wright Tremaine LLP

CFPB Proposes Rule to Treat Overdraft as Credit Under TILA

The Consumer Financial Protection Bureau released its proposed rule to treat overdraft features for deposit accounts as credit, subject to the Truth in Lending Act (TILA) and its implementing rules, Regulation Z. The proposal...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

Moore & Van Allen PLLC

CFPB Announces LIBOR Transition’s Final Rule, Amending Provisions of Regulation Z

On December 7, 2021, the Consumer Financial Protection Bureau (“CFPB”) published its final rule (“Rule”) facilitating the transition away from LIBOR for open-end and closed-end consumer financial products. The Rule amends...more

Nutter McClennen & Fish LLP

Nutter Bank Report: December 2021

FDIC Board Governance Dispute on Review of Bank Mergers Aired Publicly - CFPB Director Rohit Chopra on December 9 published on the CFPB’s website a blog post captioned “How Should Regulators Review Bank Mergers?” in...more

Holland & Knight LLP

CFPB Issues Final Libor Transition Rules

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The Consumer Financial Protection Bureau (the Bureau) has issued final regulations (Final Regulations) to facilitate the transition away from Libor (the London Interbank Offered Rate) in the consumer credit market and to...more

Nutter McClennen & Fish LLP

Nutter Bank Report: November 2020

Federal Banking Agencies Issue New Guidance on Managing the LIBOR Transition - The member agencies of the Federal Financial Institutions Examination Council (“FFIEC”) have issued joint guidance for banking organizations...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

Nutter McClennen & Fish LLP

Bank Report: November 2019

OCC and FDIC Propose Interest Rate Fix for Loans Transferred to Non-Banks - The FDIC and OCC have separately proposed rules that would codify the “valid-when-made” doctrine and clarify that when a bank sells, assigns, or...more

Ballard Spahr LLP

CFPB publishes annual CARD Act, HOEPA, QM adjustments

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The CFPB has published a final rule regarding various annual adjustments it is required to make under provisions of Regulation Z (TILA) that implement the CARD Act, HOEPA, and the ability to repay/qualified mortgage...more

A&O Shearman

US Consumer Financial Protection Bureau Issues Final Rule Regarding Prepaid Accounts

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The US Consumer Financial Protection Bureau published a final rule that amends the regulations implementing the Electronic Funds Transfer Act (Regulation E), and the Truth in Lending Act (Regulation Z), and corresponding...more

Orrick - Finance 20/20

CFPB Finalizes Effective Date Extension for Prepaid Accounts Rule

On April 20, 2017, the Bureau of Consumer Financial Protection (CFPB) issued a final rule to delay the October 1, 2017 effective date of the rule governing Prepaid Accounts Under the Electronic Fund Transfer Act (Regulation...more

Bradley Arant Boult Cummings LLP

The Prepaid Rule is Finally Here

Last week, the CFPB issued its long-awaited final rule amending Regulation E (Electronic Funds Transfer Act) and Regulation Z (Truth in Lending Act) to create regulations for prepaid financial products (Prepaid Rule). The...more

Ballard Spahr LLP

CFPB Issues Second Rule to Implement the HELP Act, Expanding Qualified Mortgage Coverage for Lenders in Rural and Underserved...

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As we have addressed, Congress passed the Helping Expand Lending Practices in Rural Communities Act of 2015 (HELP Act) on December 4, 2015, in efforts to expand the designation of additional areas as being "rural" under...more

Locke Lord LLP

CFPB Final Rule - Amendments Relating to Small Creditors and Rural or Underserved Areas under the Truth in Lending Act

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On September 21, 2015, the Consumer Financial Protection Bureau (CFPB) issued a final rule, Amendments Relating to Small Creditors and Rural or Underserved Areas under the Truth in Lending Act (Rule) which goes into effect...more

MoFo Reenforcement

Amendments Relating to Small Creditors and Rural or Underserved Areas Under the Truth in Lending Act (Regulation Z)

MoFo Reenforcement on

The CFPB is amending certain mortgage rules issued by the Bureau in 2013. This final rule revises the Bureau’s regulatory definitions of small creditor, and rural and underserved areas, for purposes of certain special...more

Ballard Spahr LLP

CFPB issues final rule expanding definition of “small creditor” and “rural areas” under TILA

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The CFPB has issued a final rule that revises the definitions of “small creditor” and “rural areas” under Regulation Z of the Truth in Lending Act (TILA). The final rule is effective January 1, 2016. We previously reported on...more

Ballard Spahr LLP

CFPB publishes annual CARD Act, HOEPA and QM adjustments

Ballard Spahr LLP on

The CFPB has published a final rule regarding various annual adjustments it is required to make under provisions of Regulation Z (TILA) that implement the CARD Act, HOEPA, and the ability to repay/qualified mortgage...more

Morrison & Foerster LLP

CFPB Finalizes Rule Suspending Quarterly Submission of Credit Card Agreements

On April 15, 2015, the Consumer Financial Protection Bureau (“CFPB”) announced a final rule (“Final Rule”) that suspends for one year the requirement under the Truth in Lending Act and implemented by Regulation Z that credit...more

Ballard Spahr LLP

CFPB finalizes temporary suspension of TILA requirement for quarterly submission of credit card agreements

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The CFPB has issued a final rule adopting its proposal to suspend for one year the Truth in Lending Act/Regulation Z requirement for issuers of open-end credit cards to send their credit card agreements to the CFPB quarterly...more

K&L Gates LLP

A Cure for What Ails You – Or At Least One Thing That Does: CFPB’s Cure for “Points and Fees” Mistakes

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In a recent amendment to Regulation Z, the CFPB offers a tonic to mortgage lenders and their assignees that have struggled with the “points and fees” calculation for Qualified Mortgages (QMs). The CFPB’s cure allows lenders...more

Ballard Spahr LLP

CFPB publishes annual CARD Act, HOEPA and QM adjustments

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The CFPB has published a final rule regarding various annual adjustments it is required to make under provisions of Regulation Z (TILA) that implement the CARD Act, HOEPA, and the ability to repay/qualified mortgage...more

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