SAFE Act MLO Registration Renewal Period Starts November 1 – Check Current Registrant’s Names
It’s that time again. The NMLS 2024 Annual Renewal Period began on November 1 and will end December 31. TCA – A Better Way!
Special Release
Updates to OFAC’s Compliance Hotline Impact to Financial Institution’s Policies and Procedures
On August 2, 2024, OFAC announced changes to its Compliance Hotline. TCA recommends that financial institutions review their policies and procedures related to OFAC to remove references to OFAC’s retired contact methods. TCA – A Better Way!
Updates to the FDIC Official Signage Rule and Q&A
The Board of the FDIC met on October 17, 2024, and delayed the implementation date for the updates to 12 CFR 328 Subpart A (FDIC Official Signs and Advertisement of Membership) which were to go into effect on January 1, 2025. The new mandatory compliance date is May 1, 2025. TCA – A Better Way!
Updates to the FDIC Official Signage Rule and Q&A Read More »
HPML Appraisal & Regulation Z and Regulation M Exemption Dollar Thresholds for 2025
On October 4, 2024, the Federal Reserve Board and the Consumer Financial Protection Bureau jointly issued an increase in the exemption thresholds for Regulation Z and Regulation M exemptions, which are tied to the Consumer Price Index (CPI-W) as of June 1. Loans or leases at or below the thresholds are subject to the protections
HPML Appraisal & Regulation Z and Regulation M Exemption Dollar Thresholds for 2025 Read More »
FDIC Issues Questions and Answers on New Signage Rule
On July 16, 2024, the FDIC published a Questions and Answers Related to the FDIC’s Part 328 Final Rule page on their website. The rule is effective as of April 1, 2024 with a mandatory compliance date of January 1, 2025. The FDIC expects to continually update the Q&A as needed. Like most Q&As, some
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A New Federal Holiday and an Old Federal Holiday – Alleviate The Confusion
So, if this article looks familiar, that’s because we sent out a similar version in the past three years and there can still be some confusion as some institutions are open and some are closed. On June 17, 2021, the US got its first national holiday in 38 years. June 19 has been designated as
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CFPB Funding Mechanism Determined Valid
The Supreme Court released their decision in the Consumer Financial Protection Bureau v. Community Financial Services Assn. of America, Ltd. case, which was brought to challenge the funding of the CFPB as inconsistent with the Appropriations Clause. The challengers argued that this funding mechanism violated the appropriations clause, which provides that “no money shall be
CFPB Funding Mechanism Determined Valid Read More »
Regulation CC Updates Coming in 2025
When Regulation CC was updated back in 2019, one of the changes attached the dollar amounts to be made available to adjust every five years based on changes to the Consumer Price Index (CPI-W) similar to annual changes in Regulations M and Z, rounded to the nearest $25. Well, that far-off five-year timeframe has arrived.
Regulation CC Updates Coming in 2025 Read More »
Mitigate Risk: Understand Your Lending Patterns
Examiners are more carefully scrutinizing banks’ lending penetration in low- and moderate-income census tracts for CRA and in substantially minority census tracts for Fair Lending in banks’ designated assessment areas. Examiners also expect banks to demonstrate a thorough understanding of their lending patterns. For example, they analyze HMDA loan data and Small Business/Small Farm loan
Mitigate Risk: Understand Your Lending Patterns Read More »
2024 RCM Hotline Helpful Tips
As we continue to move forward into 2024, we wanted to take the time to share some tips regarding our Regulatory Compliance Manager (RCM) hotline and article accessibility. We want to ensure that all of our RCM clients have the best experience possible regarding these services. TCA – A Better Way!
2024 RCM Hotline Helpful Tips Read More »
