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April 1st is Fast Approaching: Did You Update Your CRA Public File?
April brings many special events – baseball’s home opener, spring showers to bring May flowers, and let’s not forget the CRA Public File update. TCA – A Better Way!
NFIP Reauthorized through September 30, 2025
We received an email asking if the National Flood Insurance Program (NFIP) had been reauthorized. The NFIP is not authorized perpetually and can only be “reupped” by Congress. TCA – A Better Way!
Have you updated your Illinois Community Reinvestment Act Lobby and Website Notice?
If you are a federally chartered institution or a state-chartered institution in any state OTHER than Illinois, you can stop reading here unless you are interested. Like some other states, Illinois passed their own Community Reinvestment Act statute in March of 2021 which can be found at 205 ILCS 735. Part of that law requires […]
Updates to Updates to the FDIC Official Signage Rule and Q&A
The FDIC delayed the implementation date for the updates to 12 CFR 328.4 (Signs for automated teller machines and like devices) and 328.5 (Signs for digital deposit-taking channels) which were originally to go into effect as of January 1, 2025, and postponed to May 1, 2025. TCA – A Better Way!
New HMDA Filing Login Requirements
If you are a HMDA filer, CFPB has made the filing process more secure or more complicated depending on your viewpoint. According to this quick reference guide, effective January 1, 2025 a Login.gov login, which includes multifactor authentication (MFA), will be required to file your institution’s 2024 HMDA data. Users will no longer have the […]
Regulatory Updates – Fourth Quarter 2024
Below is a link to the Regulatory Updates as of the end of Q4 2024. TCA provides A Better Way for you to track Compliance updates and keep your organization on track. TCA – A Better Way!
Time to Make New Year’s AML/CFT Resolutions
While many of us will be making personal resolutions for the New Year for personal self-improvement goals, AML/CFT Officers should consider a few resolutions that are geared towards their AML/CFT Programs. TCA – A Better Way!
HMDA and HPML Thresholds Bumped Up for 2025
On December 27, 2024 the Consumer Financial Protection Bureau (CFPB) amended the Home Mortgage Disclosure Act (Regulation C) and on December 23, 2024 the Truth in Lending Act (Regulation Z), adjusting the asset-size exemption thresholds for banks, savings associations, and credit unions. TCA – A Better Way!
CRA Asset-size Thresholds Announced for 2025
The annual CRA asset-size thresholds for covered financial institutions were announced by the FDIC and Federal Reserve on December 19, 2024 and by the OCC on December 23, 2024 applicable for 2025. TCA – A Better Way!
HOEPA Calculation Worksheet for 2025 Loans
Tool to calculate whether your loan transaction is subject to HOEPA based on the points and fees and prepayment penalties paid by the borrower. Worksheets are updated annually to reflect changes loan amount thresholds. Select the worksheet based on the year the loan has been originated. Example: loan originated in December 2023 – select the HOEPA Calculation Worksheet 2023.01.
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