Compliance Newshub
Federal Legislation

The website published version of the Department of Housing and Urban Development's (HUD) Servicemembers Civil Relief Act (SCRA) Notice, which is required to be sent to all homeowners within 45 days of becoming delinquent on a mortgage loan, has been updated with a new expiration date of 11/30/2024.

The CFPB published an advisory opinion affirming that ECOA prohibits lender discrimination against customers after receiving a loan and not just during the application process.

The Consumer Financial Protection Bureau (CFPB) is issuing this advisory opinion to affirm that the Equal Credit Opportunity Act and Regulation B protect not only those actively seeking credit but also those who sought and have received credit.

Today, five federal regulatory agencies jointly issued revised questions and answers (Q&As) regarding federal flood insurance law and the agencies' implementing regulations.

Allyson Brown

This blog post discusses errors that may occur when add-on products such as guaranteed asset protection (GAP) coverage are charged on auto loans.

The Consumer Financial Protection Bureau (CFPB) has issued its Supervisory Highlights report of legal violations identified in the second half of 2021, detailing findings from examinations of practices in the auto servicing, consumer reporting, credit cards, debt collection, deposits, mortgage origination, prepaid accounts, and remittances markets.

The Financial Crimes Enforcement Network (FinCEN) today announced the renewal and expansion of its Geographic Targeting Orders (GTOs) that require U.S. title insurance companies to identify the natural persons behind shell companies used in all-cash purchases of residential real estate.

The CFPB has released Spanish translations for certain adverse action model and sample notices included in Regulation B.

The CFPB has released Spanish translated Prepaid Rule forms for certain models included in the Prepaid Rule in Regulation E.

DS News - Demetria Lester

The Federal Housing Finance Agency (FHFA) unveils the 2022-2024 Underserved Markets Plans for GSEs under the Duty to Serve (DTS) Program.

The CFPB plans to utilize a dormant authority using a legal provision to examine nonbank financial companies that pose risks to consumers to help level the playing field between banks and nonbanks and is seeking public comments on a procedural rule to make this process more transparent.

The OCC took this action based on the bank’s failure to adopt and implement a compliance program that adequately covers the required Bank Secrecy Act/anti-money laundering (BSA/AML) program elements.