Compliance Newshub
Federal Legislation

The CFPB updated the Debt Collection Small Entity Compliance Guide to include a discussion of the December 2020 Final Rule.

FDIC has updated the Risk Management Manual of Examination Policies (RMS Manual); specifically, updates to Section 20.1 include revised instructions to address management concurrence requirements for changes in examination scope.

The CFPB released its annual Fair Lending Report to Congress highlighting work in 2020 to promote the Bureau's fair lending mission of ensuring fair, equitable, and nondiscriminatory access to credit while also protecting consumers in the midst of the COVID-19 pandemic and resulting economic consequences.

The federal banking agencies, in consultation with the Financial Crimes Enforcement Network and the National Credit Union Administration, today issued a joint statement addressing how risk management principles described in the “Supervisory Guidance on Model Risk Management” relate to systems or models used by banks to assist in complying with the requirements of Bank Secrecy Act (BSA) laws and regulations.

The CFPB issued a Notice of Proposed Rulemaking (NPRM) to delay by 60 days the effective date of two final rules issued under the Fair Debt Collection Practices Act (FDCPA) that are scheduled to take effect on November 30, 2021.

The Consumer Financial Protection Bureau (CFPB) proposed a set of rule changes intended to help prevent avoidable foreclosures as the emergency federal foreclosure protections expire; comments be submitted before May 11, 2021.

The FFIEC has published the 2021 edition of A Guide To HMDA Reporting: Getting It Right!

The Consumer Financial Protection Bureau (CFPB) today warned mortgage servicers to take all necessary steps now to prevent a wave of avoidable foreclosures this fall.

The Financial Crimes Enforcement Network (FinCEN) issued an Advance Notice of Proposed Rulemaking (ANPRM) to solicit public comment on a wide range of questions related to the implementation of the beneficial ownership information reporting provisions of the Corporate Transparency Act (CTA); comments are due by May 5, 2021.

Effective April 1, the Consumer Financial Protection Bureau (CFPB) today announced it is rescinding seven policy statements issued last year that provided temporary flexibilities to financial institutions in consumer financial markets including mortgages, credit reporting, credit cards and prepaid cards.

The CDC is extending the eviction moratorium scheduled to expire on March 31, 2021 to June 30, 2021.

Consumer Financial Protection Bureau

The coronavirus pandemic resulted in a 54 percent increase in complaints to the Consumer Financial Protection Bureau (CFPB) in 2020, according to the agency’s annual consumer response report to Congress.