Compliance Newshub
Federal Legislation

The Agenda lists the regulatory matters that the CFPB plans to pursue during the period from November 1, 2021 to October 31, 2022

The Office of the Comptroller of the Currency (OCC) announced that the performance of first-lien mortgages in the federal banking system improved during the third quarter of 2021.

The CFPB has finalized a rule facilitating the transition away from the LIBOR interest rate index for consumer financial products.

The FDIC has published its December Consumer News article regarding overdraft and account fees.

The OCC has issued revised licensing booklets which reflect recent updates to 12 CFR 5 and other regulations, as applicable; remove references to outdated guidance and provide current references; and make other minor modifications and corrections throughout.

Office of the Comptroller of the Currency

Michael J. Hsu, the acting Comptroller of the Currency, issued a statement that encouraged national banks and federal savings associations to explore the opportunities available through special-purpose credit programs.

The CFPB finalized a rule facilitating the transition away from the LIBOR interest rate index for consumer financial products, establishing requirements for how creditors must select replacement indices for existing LIBOR-linked consumer loans after April 1, 2022.

The fourth annual Money Mule Initiative, which targets networks of individuals through which international fraudsters obtain proceeds of fraud schemes was announced today by the Department of Justice, FBI, U.S. Postal Inspection Service and five other federal law enforcement agencies, including the CFPB.

The Office of the Comptroller of the Currency (OCC) has released an OnPoint economic paper examining mortgage data reported under the Home Mortgage Disclosure Act (HMDA) for evidence supporting the claim of movement away from large metropolitan statistical areas in 2020.

The U.S. Treasury has announced measures it will use in support of the national action plan to combat human trafficking.

Office of the Comptroller of the Currency

The Consumer Financial Protection Bureau, the Federal Reserve Board, and the Office of the Comptroller of the Currency announced that the threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans will increase in 2022.

This bulletin informs all national banks, federal savings associations, and federal branches and agencies of foreign banks of fees and assessments charged by the Office of the Comptroller of the Currency (OCC) for calendar year 2022 and becomes effective January 1, 2022.