The Consumer Financial Protection Bureau (CFPB) amended the Home Mortgage Disclosure Act (Regulation C) and the Truth in Lending Act (Regulation Z), adjusting the asset-size exemption thresholds for banks, savings associations, and credit unions. Like the CRA thresholds, the adjustments are pegged to the annual percentage increase in the Consumer Price Index for Urban Wage […]
HMDA and HPML Thresholds Bumped Up for 2022 Read More »
The annual CRA asset-size thresholds for covered financial institutions were announced December 16, 2021 applicable for 2022. The cutoff adjustments are based on the change in the CPI (Consumer Price Index) for each 12-month period ending in November, rounded to the nearest million. As a result of the 4.73% increase in the CPI, the levels
CRA Asset-Size Thresholds Announced for 2022 Read More »
The OCC issued News Release 2021-133 on December 14, 2021, announcing the final rescinding of their June 2020 Community Reinvestment Act (CRA) Rule. The Final Rule will become effective as of January 1, 2022 and will apply to all national banks as well as to both federal and state savings associations. Financial institutions regulated by
Everything Old is New Again- OCC Rescinds CRA Rules Read More »
On November 30, 2021 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. Loans or leases at or below the thresholds are subject to the protections of the regulations. The regulators
HPML Appraisal & Regulation Z and Regulation M Exemption Dollar Thresholds for 2022 Read More »
Effective October 1, 2021, FEMA updated its Special Flood Insurance Policy forms to bring them in conformance with the requirements stipulated in the final rule FEMA published in July 2020, “Conforming Changes To Reflect the Biggert-Waters Flood Insurance Reform Act of 2012 (BW-12) and the Homeowners Flood Insurance Affordability Act of 2014 (HFIAA), and Additional
FEMA Changes Declaration Pages Read More »
Based on the 4.7% increase in the Consumer Price Index (CPI-W) in effect on June 1, 2021, the Consumer Financial Protection Bureau (CFPB) released a number of new thresholds which go into effect on January 1, 2022. They include: The minimum interest charge disclosure threshold of $1.00 under the CARD Act will remain unchanged. (1026.6(b)(2)(iii)
New Threshold Amounts for 2022 under Regulation Z CARD Act, HOEPA and QM Sections Read More »
It’s that time again. The NMLS 2021 Annual Renewal Period began on November 1 and will end December 31. Companies and individuals can prepare by making sure the information on their NMLS record is up to date. During this time, companies can complete their annual attestation that their record is up to date, pay their
If you are not regulated by the OCC, then you can skip to the end of this Special Release. If you are regulated by the OCC, then you need to know the OCC issued Bulletin 2021-35 on August 5, 2021 updating addresses used for the Equal Housing Lender lobby posters, CRA lobby notices for the
OCC Updated Addresses for Equal Housing, CRA and Adverse Actions Read More »
The CFPB has released the public disclosures for HMDA data submitted for calendar year 2020. HMDA reporting institutions can go to the FFIEC HMDA Data Publication section of the CFPB website and download their disclosure tables. As a reminder, the tables are no longer required to be made a part of your CRA Public File.
CFPB Releases HMDA Public Data Tables Read More »
Throughout this pandemic, TCA Compliance has looked to the Centers for Disease Control and Prevention (CDC) for guidance on how best to manage the effects of COVID-19 on our business. As many states, including Illinois, are entering into Phase 5 of their COVID strategies (i.e. are re-opening), we have continued to look to the CDC
Covid-19 and Compliance Engagements – Update Read More »
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