Truth in Lending Act (TILA) Regulation Z

News & Analysis as of

CFPB Announces Dollar Threshold Adjustments to the Truth in Lending Act

The Consumer Financial Protection Bureau (CFPB) recently released a final rule amending the dollar thresholds in Regulation Z, which implements the Truth in Lending Act (TILA). The CFPB’s final rule has two primary effects....more

CFPB publishes annual CARD Act, HOEPA and QM adjustments, corrects 2016 error

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

Tax Lien on Me: Fifth Circuit Holds the Transfer of a Tax Lien is not Subject to the Truth in Lending Act

On April 29, 2016, the United States Court of Appeals for the Fifth Circuit held that the transfer of a tax lien does not constitute an extension of “credit” subject to the protections of the Truth in Lending Act (“TILA”). ...more

CFPB to host June 22 eRegulations webinar

On June 22, 2016, the CFPB will host a webinar on recent updates to its eRegulations tool.  Acting Deputy Director David Silberman will be a webinar speaker. eRegulations is a tool available on the CFPB’s website that can be...more

FTC Provides 2015 Enforcement Report to CFPB

The Federal Trade Commission (FTC) has provided its annual report to the Consumer Financial Protection Bureau (CFPB) covering the FTC’s enforcement activities in 2015 related to compliance with Regulation Z (Truth in...more

CFPB adds to eRegulations platform

The CFPB announced that it has added Regulations C, X, and DD to its eRegulations platform and has updated Regulation Z on the platform so that it includes all of the amendments made to the regulation through March 2016....more

FTC provides 2015 enforcement report to CFPB

The Federal Trade Commission has provided its annual report to the CFPB covering the FTC’s enforcement activities in 2015 related to compliance with Regulation Z (Truth in Lending), Regulation M (Consumer Leasing), and...more

CFPB Publishes New Annotated Loan Disclosures

In emails sent to CFPB email subscription holders, the CFPB announced the publication of new annotated versions of the Loan Estimate and Closing Disclosure that include citations to sections in Chapter 2 of the Truth in...more

CFPB publishes two resources for small creditors

The CFPB recently published a fact sheet for small creditors operating in rural or underserved areas. As we have reported, the CFPB issued a final rule, which became effective on January 1, 2016, revising the definitions of...more

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

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

CFPB issues guidance on resumption of quarterly credit card agreement submissions

The CFPB has issued guidance to credit card issuers regarding the resumption of the requirement to submit card agreements to the CFPB on a quarterly basis. The next submission is due on or before May 2, 2016. In April 2015,...more

CFPB issues second rule to implement the HELP Act, expanding Qualified Mortgage coverage for lenders lending in rural and...

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

Overview of Financial Protections for Military Service Members, Including the New Military Lending Act

The U.S. Department of Defense (“DOD”) has put into effect the newly amended Military Lending Act (“MLA”) rule, which applies the protections of the MLA’s strict lending restrictions to consumer credit card issuers and...more

Illinois Supreme Court Expands Who Can Seek TILA Rescission

A recent Illinois Supreme Court opinion may expose banks to a flood of TILA rescission claims by anyone who claims an ownership interest in mortgaged property. The state supreme court ruled that the right to rescind includes...more

Owner of Payday Lenders, Attorney Hit with Federal Criminal Indictment

A man alleged to be the owner and operator of a group of payday-lending companies and an attorney alleged to have submitted false affidavits and structured sham arrangements have been indicted by a federal grand jury in New...more

Dodd-Frank News: January 2016: Dodd-Frank Wall Street Reform and Consumer Protection Act Update

The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as a measure to promote financial stability and protection for consumers through increased regulation of nearly every aspect of the consumer finance...more

CFPB announces adjustments to HMDA/TILA asset-size exemption thresholds

The CFPB has announced annual adjustments to two asset-size exemption thresholds. First, the CFPB is making no change to the asset-size exemption threshold under HMDA/Regulation C which is currently set at $44 million. Banks,...more

House Passes Bills to Circumscribe CFPB Authority

Why it matters - Congress pushed back against multiple Consumer Financial Protection Bureau (CFPB) initiatives recently, passing legislation that would override the Bureau's policies with regard to auto lending and...more

House Passes Bill to Curb QM requirements

The U.S. House of Representatives passed a bill that would provide a safe harbor exception for depository institutions from certain provisions of the Truth in Lending Act and Regulation Z, and for mortgage originators from...more

House passes bill to curb QM requirements

On November 18, 2015, the U.S. House of Representatives passed a bill that would provide a safe harbor exception for depository institutions from certain provisions of the Truth in Lending Act and Regulation Z, and for...more

Dodd-Frank News: November 2015: Dodd-Frank Wall Street Reform and Consumer Protection Act Update

The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as a measure to promote financial stability and protection for consumers through increased regulation of nearly every aspect of the consumer finance...more

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

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

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

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

The New TILA-RESPA Integrated Disclosure Requirements

Farewell, HUD-1, we hardly knew ye. As of October 3rd, 2015, lenders will provide two integrated forms at specified intervals surrounding the closing date to comply with the provisions of both the Truth in Lending Act...more

Countdown to TRID Implementation: Blog: Consumer Financial Protection Bureau

The effective date for implementation of the “TILA-RESPA Integrated Disclosure” rule, or “TRID” for short, is just around the corner – October 3rd. Originally the effective date was August 1st but that date was extended by...more

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