Upcoming Events
Live Membership Demo 08-04-2020
August 04, 2020
Join us for a live demonstration of the benefits of membership with Compliance Alliance. This interactive virtual tour will provide an in-depth look at each of our tool types and resource categories, as well as an overview of all of C/A's additional services. This meeting is presented by our Membership team, and will last about an…
Live Membership Demo 08-11-2020
August 11, 2020
Join us for a live demonstration of the benefits of membership with Compliance Alliance. This interactive virtual tour will provide an in-depth look at each of our tool types and resource categories, as well as an overview of all of C/A's additional services. This meeting is presented by our Membership team, and will last about an…
Live Membership Demo 08-18-2020
August 18, 2020
Join us for a live demonstration of the benefits of membership with Compliance Alliance. This interactive virtual tour will provide an in-depth look at each of our tool types and resource categories, as well as an overview of all of C/A's additional services. This meeting is presented by our Membership team, and will last about an…
Live Membership Demo 08-25-2020
August 25, 2020
Join us for a live demonstration of the benefits of membership with Compliance Alliance. This interactive virtual tour will provide an in-depth look at each of our tool types and resource categories, as well as an overview of all of C/A's additional services. This meeting is presented by our Membership team, and will last about an…
Live Membership Demo 08-06-2020
August 06, 2020
Join us for a live demonstration of the benefits of membership with Compliance Alliance. This interactive virtual tour will provide an in-depth look at each of our tool types and resource categories, as well as an overview of all of C/A's additional services. This meeting is presented by our Membership team, and will last about an…
Live Membership Demo 08-13-2020
August 13, 2020
Join us for a live demonstration of the benefits of membership with Compliance Alliance. This interactive virtual tour will provide an in-depth look at each of our tool types and resource categories, as well as an overview of all of C/A's additional services. This meeting is presented by our Membership team, and will last about an…
Live Membership Demo 08-20-2020
August 20, 2020
Join us for a live demonstration of the benefits of membership with Compliance Alliance. This interactive virtual tour will provide an in-depth look at each of our tool types and resource categories, as well as an overview of all of C/A's additional services. This meeting is presented by our Membership team, and will last about an…
Live Membership Demo 08-27-2020
August 27, 2020
Join us for a live demonstration of the benefits of membership with Compliance Alliance. This interactive virtual tour will provide an in-depth look at each of our tool types and resource categories, as well as an overview of all of C/A's additional services. This meeting is presented by our Membership team, and will last about an…
Effective Date: Payday, Vehicle Title, and Certain High-Cost Installment Loans
October 20, 2020
The Bureau of Consumer Financial Protection (Bureau) is issuing this final rule to amend its regulations governing payday, vehicle title, and certain high-cost installment loans. Specifically, the Bureau is revoking provisions of those regulations that: Provide that it is an unfair and abusive practice for a lender to make a covered short-term or longer-term balloon-payment…
Effective Date: Federal Interest Rate Authority
August 21, 2020
The Federal Deposit Insurance Corporation (FDIC) is issuing regulations clarifying the law that governs the interest rates State-chartered banks and insured branches of foreign banks (collectively, State banks) may charge. These regulations provide that State banks are authorized to charge interest at the rate permitted by the State in which the State bank is located,…
Comment Period: OCC Notice of Proposed Rule Making Regarding the “True Lender” Rule
September 03, 2020
The Office of the Comptroller of the Currency (OCC) is proposing a regulation to determine when a national bank or Federal savings association (bank) makes a loan and is the “true lender” in the context of a partnership between a bank and a third party, such as a marketplace lender. Under this proposal, a bank…
Effective Date: Truth in Lending (Reg. Z) Annual Threshold Adjustments
January 01, 2021
The Bureau of Consumer Financial Protection (Bureau) is issuing this final rule amending the regulation text and official interpretations for Regulation Z, which implements the Truth in Lending Act (TILA). The Bureau is required to calculate annually the dollar amounts for several provisions in Regulation Z; this final rule revises, as applicable, the dollar amounts…
Effective Date: Reg. E Remittance Transfer Rule 2020 Amendments
July 21, 2020
The CFPB issued a Final Rule amending the Remittance Transfer Rule in Regulation E. The changes would mitigate the effects of the expiration of insured institutions disclosing estimated amounts to consumers (which expire July 21, 2020). The CFPB has also increased the safe harbor threshold in Reg. E related to whether a person makes remittance transfers…
Effective Date: Reg. O Interim Final Rule to extend PPP exception to August 8, 2020
July 16, 2020
On April 17, 2020, the Board issued an interim final rule to except certain loans made by June 30, 2020, that are guaranteed under the Small Business Administration's Paycheck Protection Program from the requirements of the Federal Reserve Act and the corresponding provisions of the Board's Regulation O. The Board is issuing this interim final…
Comment Period: Reg. O Interim Final Rule to extend PPP exception to August 8, 2020
August 31, 2020
On April 17, 2020, the Board issued an interim final rule to except certain loans made by June 30, 2020, that are guaranteed under the Small Business Administration's Paycheck Protection Program from the requirements of the Federal Reserve Act and the corresponding provisions of the Board's Regulation O. The Board is issuing this interim final…
Due Date: First PPP SBA 1502 Report
July 15, 2020
…After a Lender reports a loan as fully disbursed, the Lender must submit monthly PPP 1502 reports on or before the 15th of each month, or if the 15th is not a business day, on the next business day after the 15th. The first monthly PPP 1502 report is due on or before July 15,…
Comment Period: General QM Loan Definition
September 08, 2020
With certain exceptions, Regulation Z requires creditors to make a reasonable, good faith determination of a consumer's ability to repay any residential mortgage loan, and loans that meet Regulation Z's requirements for “qualified mortgages” (QMs) obtain certain protections from liability. One category of QMs is the General QM loan category. For General QM loans, the…
Comment Period: QM Definition Extension of Sunset Date
August 10, 2020
With certain exceptions, Regulation Z requires creditors to make a reasonable, good faith determination of a consumer's ability to repay any residential mortgage loan, and loans that meet Regulation Z's requirements for “qualified mortgages” (QMs) obtain certain protections from liability. One category of QMs consists of loans that are eligible for purchase or guarantee by…
Comment Period: Activities and Operations of National Banks and Federal Savings Associations
August 03, 2020
The Office of the Comptroller of the Currency is issuing a notice of proposed rulemaking to revise and reorganize its regulations relating to the activities and operations of national banks and Federal savings associations. This proposal would clarify and codify recent OCC interpretations, integrate certain regulations for national banks and Federal savings associations, and update…
Comment Period: Proposed Flood Insurance FAQs
September 04, 2020
The OCC, Board, FDIC, FCA, and NCUA (collectively, the Agencies) propose to reorganize, revise, and expand the Interagency Questions and Answers Regarding Flood Insurance and solicit comment on all aspects of the amendments. To help lenders meet their responsibilities under Federal flood insurance law and to increase public understanding of their flood insurance regulations, the…
Paycheck Protection Program Final Day
August 08, 2020
S.4116 extended the PPP to August 8, 2020: Public Law No: 116-147 (07/04/2020) This bill extends through August 8, 2020, the application period for the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019). Read more here.
Effective Date: S.4116 Extending the PPP to August 8, 2020
July 04, 2020
Public Law No: 116-147 (07/04/2020) This bill extends through August 8, 2020, the application period for the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019). Read more here.
Comment Period: CFPB Proposed Rule and Request for Comment Regarding HPML Escrow Exemptions
September 21, 2020
The Bureau of Consumer Financial Protection (Bureau) is proposing to amend Regulation Z, which implements the Truth in Lending Act, as mandated by section 108 of the Economic Growth, Regulatory Relief, and Consumer Protection Act. The amendments would exempt certain insured depository institutions and insured credit unions from the requirement to establish escrow accounts for…
Extended: IRA Contribution Deadline for 2019
July 15, 2020
Q. Does this relief provide me more time to contribute money to my IRA for 2019? A. Yes. Contributions may be made to your IRA, for a particular year, at any time during the year or by the due date for filing your return for that year. Because the due date for filing Federal income tax returns has…
Effective Date: Treatment of Certain COVID-19 Related Loss Mitigation Options Under RESPA
July 01, 2020
The Bureau of Consumer Financial Protection (Bureau) is issuing this interim final rule to amend Regulation X. The amendments temporarily permit mortgage servicers to offer certain loss mitigation options based on the evaluation of an incomplete loss mitigation application. Eligible loss mitigation options, among other things, must permit borrowers to delay paying certain amounts until…