Compliance Newshub
Federal Legislation

The Federal Reserve and Bureau of Consumer Financial Protection issued a final rule amending the official interpretations and commentary under the Truth in Lending Act increasing the exemption threshold to $58,300 effective January 1, 2020.

The FDIC proposes to rescind and remove part 390, subpart S, as well as make technical changes to other parts of the FDIC's regulations so that they may be applicable on their terms to State savings associations.

The NCUA Board is amending the NCUA's public unit and nonmember share rule to allow federal credit unions to receive public unit and nonmember shares up to 50 percent of the credit union's net amount of paid-in and unimpaired capital and surplus less any public unit and nonmember shares.

The Board and the Bureau are published final rules increasing the exemption threshold for consumer credit transactions from $57,200 to $58,300 effective January 1, 2020.

The Board and the Bureau finalized amendments to increase the exemption threshold from $57,200 to $58,300 effective January 1, 2020.

The OCC, the Board, and the Bureau are finalizing amendments to increase the exemption threshold from $26,700 to $27,200, effective January 1, 2020.

Federal bank regulatory agencies have issued a final rule to simplify capital requirements for community banks to allow them to adopt a simple leverage ratio to measure capital adequacy. 

The Federal Reserve Board and the Federal Deposit Insurance Corporation have finalized a rule that modifies their resolution plan requirements for large firms, retaining resolution plan elements in place for the largest firms, while reducing requirements for smaller firms that pose less risk to the financial system.

The FDIC, along with the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve, the Farm Credit Administration, and the Federal Housing Finance Agency issued a proposal to change the swap margin rules to facilitate the implementation of prudent risk management strategies at certain banks and swap entities.

HUD is notifying FHA-approved lenders that the final annual certification will be effective beginning with lenders that have a Fiscal Year End date of December 31, 2019.

The U.S. Housing and Urban Development Secretary Ben Carson and U.S. Attorney General William Barr signed a Memorandum of Understanding (MOU) between the two agencies that sets prudential guidance on the appropriate use of the False Claims Act (FCA) for violations by Federal Housing Administration (FHA) lenders.

The U.S. Departments of the Treasury and State announced a new humanitarian mechanism to ensure unprecedented transparency into humanitarian trade with Iran, helping the international community perform enhanced due diligence on humanitarian trade to ensure that funds associated with permissible trade in support of the Iranian people are not diverted by the Iranian regime to develop ballistic missiles, support terrorism, or finance other malign activities.