News & Analysis as of

Military Service Members Office of the Comptroller of the Currency

Hudson Cook, LLP

CFPB Bites of the Month - 2023 Annual Review - Payments

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In this article, we share a timeline of our monthly "bites" for 2023 applicable to payments, along with some additional related information....more

Goodwin

FDIC Refines Supervisory Strategy Concerning Multiple Re-Presentment NSF Fees Guidance

Goodwin on

Regulatory Developments - FDIC Refines Supervisory Strategy Concerning Multiple Re-Presentment NSF Fees Guidance - On June 16, the FDIC revised its Supervisory Guidance on Multiple Re-Presentment Non-Sufficient Funds...more

Goodwin

Federal Reserve Invites Public Comment on Proposed Principles for Large Banking Organizations to Manage Climate-Related Financial...

Goodwin on

Regulatory Developments - Federal Reserve Invites Public Comment on Proposed Principles for Large Banking Organizations to Manage Climate-Related Financial Risks - On December 2, the Federal Reserve announced that it...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter - July 2022

Troutman Pepper on

Like most industries today, Consumer Finance Services businesses continue to be significantly impacted by COVID-19. To help you keep abreast of relevant activities, below find a breakdown of some of the biggest legislative...more

Goodwin

OCC Finalizes “True Lender” Rule

Goodwin on

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

Orrick - Finance 20/20

New Comptroller’s Handbook Booklet and Rescissions

Orrick - Finance 20/20 on

On May 11, 2018, the Office of the Comptroller of the Currency (“OCC“) issued the “Military Lending Act” (“MLA“) booklet of the Comptroller’s Handbook. ...more

McGuireWoods LLP

The U.S. Department of Justice is Ramping Up its Enforcement of the Servicemembers Civil Relief Act

McGuireWoods LLP on

Think you are in compliance with the Servicemembers Civil Relief Act? Now would be a good time to make sure since the federal government is increasing its enforcement efforts as part of its Servicemembers and Veterans...more

Ballard Spahr LLP

CFPB to participate in interagency MLA webinar

Ballard Spahr LLP on

On December 1, 2016, the  FDIC will co-host an interagency webinar that will focus on Military Lending Act regulations and the Department of Defense’s recently-released interpretive rule. In addition to a CFPB...more

Goodwin

DOJ & OCC Enter Consent Order with National Bank Over Debt Collection from Servicemembers

Goodwin on

On September 29, the U.S. Department of Justice (DOJ) announced that it had entered into a consent order with a national bank over allegations that the bank had engaged in unlawful debt collection practices, in violation of...more

Ballard Spahr LLP

DoD issues MLA interpretive rule

Ballard Spahr LLP on

The Department of Defense (DoD) has issued an interpretive rule to assist the industry in complying with its July 2015 final rule amending the Military Lending Act’s implementing regulation. The much-anticipated guidance was...more

Ballard Spahr LLP

Trade groups seek extension of compliance date for Military Lending Act final rule

Ballard Spahr LLP on

The American Bankers Association, joined by six other prominent industry trade groups, is seeking a six-month extension of the date by which depository institutions must comply with the Military Lending Act (MLA) final rule...more

Bradley Arant Boult Cummings LLP

SCRA Will Continue to Receive Regulatory Scrutiny

On March 22, 2016, the U.S. House of Representatives passed the Foreclosure Relief and Extension for Servicemembers Act of 2015. This bill was signed into law by President Obama on March 31, 2016. This follows the...more

Locke Lord LLP

Locke Lord QuickStudy: April Fools Prank or Legitimate OCC Guidance on SCRA?

Locke Lord LLP on

Why would the Office of the Comptroller of the Currency (the OCC) issue a Bulletin on April Fools’ Day? In the OCC Bulletin 2015-21, issued April 1st 2015, the OCC advised that certain protections of the Servicemembers...more

Bilzin Sumberg

Taking The Easy Way Out Again: Recent OCC/Big Banks Settlement

Bilzin Sumberg on

Any follower of this blog or the mortgage crisis at large will — sadly — not be surprised by the seemingly never-ending news of foreclosure misdeeds by the nation’s biggest banks. Recent news reveals a particularly...more

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