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Study: TRID Rules Have Increased Costs, Decreased Product Offerings

What kind of impact have the Truth in Lending Act/Real Estate Settlement Procedures Act Integrated Disclosure (TRID) requirements had on banks? According to a new study conducted by the American Bankers Association (ABA), the...more

Regulators Demand “Good Faith Efforts” for TRID Implementation

Why it matters - Federal regulators said they don’t expect perfection from banks trying to comply with the new mortgage disclosure requirements but will not turn a blind eye with regard to enforcement. In letters to...more

Lenders Get TRID Reprieve Thanks to CFPB Admin Error

Why it matters - An “administrative error” on the part of the Consumer Financial Protection Bureau (CFPB) may have been the best news lenders received in a long time. On August 1, the new TRID (TILA-RESPA Integrated...more

CFPB Proposes Eased Mortgage Restrictions on Smaller Financial Institutions

Why it matters - Seeking to reassure smaller financial institutions struggling to cope with regulatory changes in the mortgage industry, the Consumer Financial Protection Bureau (CFPB) proposed changes intended to...more

CFPB Proposes Expanded Auto Lenders Regulation

The Consumer Financial Protection Bureau’s (CFPB) recent proposal to exercise its authority under the Dodd-Frank Act to supervise large nonbank automobile lenders may have finance companies working to enforce...more

Bank Regulator Eyes Insurer Capital

The Federal Reserve Board (FRB) has begun a process that will lead to the imposition of new capital requirements on some large insurance companies. Pursuant to Section 171 of the Dodd-Frank Act, the FRB gained authority to...more

SEC Issues Final Regulations on Asset-Backed Securities

In the last week of August, the SEC issued in final form the new and wholly revised Regulation AB, which relates to the issuance of asset-backed securities. ...more

New IRA Rollover Interpretation Has Implications For Banks

In a new interpretation with implications for banks, the Internal Revenue Service (IRS) announced its intent to change course and limit rollovers from an Individual Retirement Account (IRA) to one rollover per year per...more

Financial Services Law - Feb 28, 2014

Light ’em Up: FinCEN’s Cautionary Guidance About Banks Working With Marijuana Companies - The Financial Crimes Enforcement Network’s new guidance on how to work with marijuana-related businesses is unlikely to make it...more

Financial Services Law - Feb 14, 2014

Bit by Bit(coin), Virtual Currency Inches Toward Regulation - Has the time come to regulate virtual currency? At a recent hearing held by the New York Department of Financial Services, the answer appeared to be “yes.”...more

Financial Services Law -- Jan 17, 2014

Community Banks and the Volcker Rule: What’s Next? - For now, banks that have investments in CDO securities that are issued by funds that are invested in trust preferred securities (TruPS CDOs) have dodged a bullet. On...more

Volcker Rule Is Final

As widely anticipated in the press, federal regulators have issued final rules implementing Section 619 of the Dodd-Frank Act, commonly called the Volcker Rule. This is the portion of the Dodd-Frank Act that limits...more

12/11/2013  /  CFTC , Dodd-Frank , FDIC , OCC , SEC , U.S. Treasury , Volcker Rule
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