News & Analysis as of

Truth in Lending Act (TILA) Consumer Financial Protection Bureau (CFPB) TILA-RESPA Integrated Disclosure Rule (TRID)

Ballard Spahr LLP

CFPB Issues RFI on Mortgage Closing Costs

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The Consumer Financial Protection Bureau (CFPB), recently issued a Request for Information (RFI) related to fees charged by providers of mortgages and related settlement services. In his statement, Director Chopra discussed...more

Sheppard Mullin Richter & Hampton LLP

CFPB Opens Public Probe on Closing Fees

On May 30, the CFPB announced that it was probing mortgage closing costs as part of its continued focus on so-called junk fees. The Bureau’s request for information seeks input from the public on “the impact closing costs...more

Ballard Spahr LLP

CFPB Approves Trial Disclosure Program Waiver Template Application for Construction-to-Permanent Loans

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The CFPB recently approved an application (Application) from the Independent Community Bankers Association (ICBA) for alternative disclosures under the Truth in Lending Act (TILA)/Real Estate Settlement Procedures Act (RESPA)...more

Ballard Spahr LLP

CFPB seeks input on construction and construction-to-permanent loan trial disclosure sandbox application

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The CFPB recently announced that it is seeking input on a trial disclosure sandbox application from the Independent Community Bankers Association (ICBA) for alternative disclosures under the Truth in Lending Act (TILA)/Real...more

Alston & Bird

Second Juneteenth Holiday Raises Tricky Compliance Issues

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A&B Abstract - The second observance of the Juneteenth National Independence Day (Juneteenth) holiday is Monday, June 20, 2022. ...more

Troutman Pepper

CFPB Issues Interpretive Rule on Juneteenth and Mortgage Disclosure Requirements

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On June 17, the president signed legislation designating “Juneteenth National Independence Day, June 19” as a federal holiday. Because the legislation took effect immediately, it raised compliance questions for residential...more

Ballard Spahr LLP

CFPB Issues TILA Guidance on Juneteenth Federal Holiday

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As previously reported, the creation on June 17, 2021 of the Juneteenth National Independence Day resulted in an important change under the Truth in Lending Act (TILA) and Regulation Z. The CFPB recently issued an...more

Hudson Cook, LLP

CFPB Bites of the Month - July Top 10

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So what happened at the CFPB in the past month? Bite #10 - The CFPB released its Spring 2021 rulemaking Agenda. The CFPB published its Spring 2021 rulemaking Agenda, which outlines the current plans for the CFPB...more

Goodwin

CFPB Comments On Juneteenth National Holiday Impact on Mortgage Deadlines

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On June 17, 2021, President Joe Biden signed into law Juneteenth National Independence Day Act. The enactment of the new Federal holiday was an historic and welcome national event. ...more

Goodwin

Supreme Court Decision Empowers President Biden to Replace Director of FHFA

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In This Issue. In a move that gives him the opportunity to put his stamp on housing policy and the potential overhaul of Fannie Mae and Freddie Mac, President Biden replaced the Director of the Federal Housing Finance Agency...more

Ballard Spahr LLP

CFPB issues statement on Juneteenth bill Truth in Lending Act issue

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As previously reported, the bill signed into law by President Biden on June 17, 2021 to create the Juneteenth National Independence Day actually results in an important change under the Truth in Lending Act (TILA) and...more

Hudson Cook, LLP

CFPB Bites of the Month - October 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 first article in the series, we share our top "bites"...more

Goodwin

OCC Finalizes “True Lender” Rule

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In the News. The Office of the Comptroller of the Currency (OCC) finalized its “true lender” rule, which establishes that a national bank or federal savings association (bank) is the “true lender” of a loan if, as of the...more

Goodwin

CFPB Issues Assessment of Rule Requiring Consolidation of Mortgage Disclosures

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On October 1, 2020, the Consumer Financial Protection Bureau (CFPB) released its rule assessment for a final Rule relating to mortgage disclosures. Known as the TRID Rule, the Bureau’s final Rule implemented requirements...more

Goodwin

SEC Charges Trust Company With Operating Unregistered Investment Companies

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SEC Charges Trust Company with Operating Unregistered Investment Companies and Failing to Register Securities Offerings. On September 30, the Securities and Exchange Commission (SEC) announced it had settled charges with...more

Ballard Spahr LLP

CFPB Issues Updated CHARM Booklet

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The CFPB recently announced the availability of an updated Consumer Handbook on Adjustable Rate Mortgages, often referred to as the “CHARM booklet.” ...more

Akerman LLP

Regulation Z, COVID-19, and Bona Fide Personal Financial Emergency Waivers

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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

Burr & Forman

CFPB Allows Waiting Periods under TILA and RESPA to be Modified or Waived Due to COVID-19

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On April 29, 2020, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule allowing certain consumers to modify to waive certain waiting periods required under the Truth in Lending Act (TILA) and the Real...more

Troutman Pepper

Five Things You Need To Know - CFPB Issues Interpretive Rule Addressing COVID-19 Impact on TRID and Reg Z Waiver Requirements

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Earlier last week, the Consumer Financial Protection Bureau issued an interpretive rule intended to “make it easier for consumers with urgent financial needs to obtain access to mortgage credit more quickly in the middle of...more

Ballard Spahr LLP

You Can Still Comment on the TRID Rule Assessment

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As we previously reported, the CFPB is conducting an assessment of the TILA/RESPA Integrated Disclosure (TRID) Rule. Although the comment period associated with the Federal Register notice regarding the assessment ended on...more

Ballard Spahr LLP

CFPB Issues Guidance On Applicability Of TRID Rule To Assumptions

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The CFPB recently issued a factsheet addressing whether a Loan Estimate and Closing Disclosure are required in connection with the assumption of a residential mortgage loan....more

White & Case LLP

Consumer financial services: The road ahead: Mortgage origination and servicing

White & Case LLP on

In 2018, the CFPB issued multiple rules, and Congress passed legislation, to clarify, revise and update the regulatory framework applicable to the home mortgage origination and servicing market....more

Morrison & Foerster LLP

CFPB Issues FAQs for the TRID Rule

The Consumer Financial Protection Bureau (CFPB) has posted a new compliance tool on its website - answers to frequently asked questions (FAQs) about the TILA-RESPA Integrated Disclosure Rule (“TRID Rule”). Apparently in...more

Ballard Spahr LLP

CFPB Revises Loan Originator Rule and HOEPA Rule Guides

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The Consumer Financial Protection Bureau (CFPB) recently issued revised versions of the small entity compliance guides for the Loan Originator Rule and the Home Ownership and Equity Protection Act (HOEPA) Rule....more

Goodwin

Financial Services Weekly News - May 2018 #4

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Regulatory Developments - FinCEN Provides 90-Day Exceptive Relief From Beneficial Ownership Requirements for Certain Products and Services With Automatic Rollovers or Renewals - On May 16, the Financial Crimes...more

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