Upcoming Events
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…
Comment Period: Treatment of Certain COVID-19 Related Loss Mitigation Options Under RESPA
August 14, 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…
Last day for lenders to obtain an SBA loan number for PPP loans!
June 30, 2020
From Interim Final Rule #19: …Specifically, small businesses that have yet to apply for and receive a PPP loan need to be informed of the terms of PPP loans as soon as possible, because the last day on which a lender can obtain an SBA loan number for a PPP loan is June 30, 2020……
Effective Date: FDIC Final Rule Regarding Mitigating the Deposit Insurance Assessment for Participating in PPP, PPPLF, and MMMFLF
June 26, 2020
The Federal Deposit Insurance Corporation is adopting a final rule that mitigates the deposit insurance assessment effects of participating in the Paycheck Protection Program (PPP) established by the Small Business Administration (SBA), and the Paycheck Protection Program Liquidity Facility (PPPLF) and Money Market Mutual Fund Liquidity Facility (MMLF) established by the Board of Governors of…
Applicability Date: FDIC Final Rule Regarding Mitigating the Deposit Insurance Assessment for Participating in PPP, PPPLF, and MMMFLF
April 01, 2020
The Federal Deposit Insurance Corporation is adopting a final rule that mitigates the deposit insurance assessment effects of participating in the Paycheck Protection Program (PPP) established by the Small Business Administration (SBA), and the Paycheck Protection Program Liquidity Facility (PPPLF) and Money Market Mutual Fund Liquidity Facility (MMLF) established by the Board of Governors of…
Effective Date: Determining “Underserved” Areas Using HMDA Data
June 26, 2020
This interpretive rule construes the Bureau of Consumer Financial Protection's (Bureau's) Regulation Z, which implements the Truth in Lending Act (TILA). The Bureau produces annually a list of rural and underserved counties and areas that is used in applying various Regulation Z provisions, such as the exemption from the requirement to establish an escrow account…
Effective Date: FHFA amendments to FHLB Housing Goals regulation
August 24, 2020
The Federal Housing Finance Agency (FHFA) is amending the existing Federal Home Loan Bank (Bank) Housing Goals regulation. The final rule replaces the existing regulation's four separate retrospective housing goals with a single prospective mortgage purchase housing goal with a target level of 20 percent. The final rule also establishes a separate small member participation…
Comment Period: OCC reduction in assessment fees
July 24, 2020
The Office of the Comptroller of the Currency (OCC) is adopting an interim final rule to reduce assessments in response to the national emergency declared in connection with coronavirus disease 2019 (COVID-19). Under the interim final rule, assessments due on September 30, 2020, for national banks, Federal savings associations, and Federal branches and agencies of…
Live Membership Demo 07-02-2020
July 02, 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 07-09-2020
July 09, 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 07-16-2020
July 16, 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 07-23-2020
July 23, 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 07-30-2020
July 30, 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 07-07-2020
July 07, 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 07-14-2020
July 14, 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…