Upcoming Events
Effective Date: FHFA Issues Final Rule Regarding Credit Score Models
October 15, 2019
FHFA Issues Final Rule Regarding Credit Score Models: The FHFA issued a final rule regarding the validation and approval of credit score models by Fannie Mae and Freddie Mac. Read more here.
Comment Period: HUD Issues Proposed Rule to Amend Disparate Impact Rule
September 04, 2020
HUD Issues Proposed Rule to Amend Disparate Impact Rule: The rule proposes to amend the rule to conform with a 2015 Supreme Court ruling regarding Disparate Impact. Read more here. Final rule approved here. Effective date 30 days after publication in the Federal Register.
Comment Period: CFPB Issues Advanced Notice of Proposed Rulemaking Regarding Qualified Mortgages
September 16, 2019
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” obtain certain protections from liability. One category of qualified mortgages (QMs) is loans that are eligible for purchase or guarantee by…
Effective Date: CFPB Issues Final Rule Adjusting the Annual Thresholds under Reg Z for 2020
January 01, 2020
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…
Comment Period: FRB Issues Notice and Request for Comment for Faster Payments Solution
November 07, 2019
The Board of Governors of the Federal Reserve System (Board) has determined that the Federal Reserve Banks (Reserve Banks) should develop a new interbank 24x7x365 real-time gross settlement service with integrated clearing functionality to support faster payments in the United States. The new service would support depository institutions' provision of end-to-end faster payment services and…
Effective Date: Revisions to Prohibitions and Restrictions on Proprietary Trading and Certain Interests In, and Relationships With, Hedge Funds and Private Equity Funds
July 22, 2019
The OCC, Board, FDIC, SEC, and CFTC are adopting final rules to amend the regulations implementing the Bank Holding Company Act's prohibitions and restrictions on proprietary trading and certain interests in, and relationships with, hedge funds and private equity funds (commonly known as the Volcker Rule) in a manner consistent with the statutory amendments made…
Effective Date: Joint Ownership Deposit Accounts
August 21, 2019
The FDIC is amending its deposit insurance regulations to update one of the requirements that must be satisfied for an account to be separately insured as a joint account. Specifically, the final rule provides an alternative method to satisfy the “signature card” requirement. Under the final rule, the signature card requirement may be satisfied by…
Comment Period: Treatment of Land Development Loans for the Definition of HVCRE
August 22, 2019
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively, the agencies) are issuing a notice of proposed rulemaking (proposal) to seek comment on the treatment of loans that finance the development of land for purposes of the one- to four-family…
Comment Period: Temporary GSE QM Loans Expiration
September 16, 2019
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” obtain certain protections from liability. One category of qualified mortgages (QMs) is loans that are eligible for purchase or guarantee by…
Effective Date: Availability of Funds and Collection of Checks (Regulation CC) (July 1)
July 01, 2020
SUMMARY: The Board and the Bureau (Agencies) are amending Regulation CC, which implements the Expedited Funds Availability Act (EFA Act), to implement a statutory requirement in the EFA Act to adjust the dollar amounts under the EFA Act for inflation. The Agencies are also amending Regulation CC to incorporate the Economic Growth, Regulatory Relief, and…
Effective Date: Availability of Funds and Collection of Checks (Regulation CC)
September 03, 2019
SUMMARY: The Board and the Bureau (Agencies) are amending Regulation CC, which implements the Expedited Funds Availability Act (EFA Act), to implement a statutory requirement in the EFA Act to adjust the dollar amounts under the EFA Act for inflation. The Agencies are also amending Regulation CC to incorporate the Economic Growth, Regulatory Relief, and…
Effective Date: Regulatory Capital Simplification Final Rule (April 1, 2020)
April 01, 2020
The portions of the final rule related to simpler requirements for mortgage servicing assets, certain deferred tax assets, investments in the capital of unconsolidated financial institutions, and minority interest (incorporated in the amendatory instructions 7, 8, 24, 30, 31, 47.b, 53, 54, and 70) are effective on April 1, 2020. The portions of the final…
Effective Date: Regulatory Capital Simplification Final Rule
October 01, 2019
The portions of the final rule related to simpler requirements for mortgage servicing assets, certain deferred tax assets, investments in the capital of unconsolidated financial institutions, and minority interest (incorporated in the amendatory instructions 7, 8, 24, 30, 31, 47.b, 53, 54, and 70) are effective on April 1, 2020. The portions of the final…
Comment Period: OFAC Amendment of the Reporting, Procedures and Penalties Regulations
July 22, 2019
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is amending the Reporting, Procedures and Penalties Regulations, 31 CFR part 501 (RPPR). The RPPR sets forth standard reporting and recordkeeping requirements and license application and other procedures relevant to the economic sanctions programs administered by OFAC. Read more here.
Comment Period: Rules Regarding Availability of Information
August 16, 2019
The Board is inviting comment on a notice of proposed rulemaking (proposal) that would amend the Board's Rules Regarding Availability of Information (Board's Rules). The amendments clarify and update the Board's regulations implementing the Freedom of Information Act and the rules governing the disclosure of confidential supervisory information and other nonpublic information of the Board….
Effective Date: Reduced Reporting for Covered Depository Institutions
July 22, 2019
The OCC, the Board, and the FDIC (collectively, the agencies) are issuing a final rule to implement section 205 of the Economic Growth, Regulatory Relief, and Consumer Protection Act by expanding the eligibility to file the agencies' most streamlined report of condition, the FFIEC 051 Call Report, to include certain insured depository institutions with less…
OCC Extends Dodd-Frank Act Stress Test Requirements
November 25, 2019
Because national banks and federal savings associations (FSAs) with consolidated assets between $100 billion and $250 billion will not be subject to the Dodd-Frank Act Stress Test (DFAST) requirements as of November 24, 2019, the OCC extended the deadline for compliance with the DFAST requirements for those banks to November 25, 2019. Read more here.
Compliance Date: Payday Mandatory Underwriting Provisions
November 19, 2020
The Bureau of Consumer Financial Protection (Bureau) is issuing this final rule to delay the August 19, 2019 compliance date for the mandatory underwriting provisions of the regulation promulgated by the Bureau in November 2017 governing Payday, Vehicle Title, and Certain High-Cost Installment Loans (2017 Final Rule or Rule). Compliance with these provisions of the…
Comment Period: RFI on FDIC Technical Assistance Offerings and Delivery
August 06, 2019
The Federal Deposit Insurance Corporation is issuing this request for information to seek public input on additional steps the FDIC could take to support effective management and operation of FDIC-supervised institutions through technical assistance and collaboration on safety and soundness and consumer compliance matters. The FDIC is seeking feedback from community banks, other FDIC-supervised institutions,…
Effective Date: Liquidity Coverage Ratio Rule
July 05, 2019
The OCC, the Board, and the FDIC (collectively, the agencies) are jointly adopting as a final rule, without change, the August 31, 2018, interim final rule, which amended the agencies' liquidity coverage ratio (LCR) rule to treat liquid and readily-marketable, investment grade municipal obligations as high-quality liquid assets. This treatment was mandated by section 403…
Effective Date: Final rule to implement a new section of the Home Owners’ Loan Act
July 01, 2019
The OCC is issuing a final rule to implement a new section of the Home Owners' Loan Act (HOLA). The Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA) amended HOLA to add a new section that allows a Federal savings association with total consolidated assets equal to or less than $20 billion, as reported…
Comment Period: Agencies Propose Rule to Determine the Applicability of Regulatory Capital Requirements to Intermediate Holding Companies in the U.S. of Foreign Banking Organizations
June 21, 2019
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System (Board), and the Federal Deposit Insurance Corporation (collectively, the agencies) are inviting comment on a proposal that would determine the application of regulatory capital requirements to certain U.S. intermediate holding companies of foreign banking organizations and their depository…
Comment Period: Agencies Issue Notice and Request for Comment Regarding Revisions to Three Call Reports
June 18, 2019
The Federal Financial Institutions Examination Council (FFIEC), of which the agencies are members, has approved the agencies' publication for public comment of a proposal to revise and extend for three years the Consolidated Reports of Condition and Income for a Bank with Domestic and Foreign Offices (FFIEC 031), the Consolidated Reports of Condition and Income…
Comment Period: Proposed Rule to Amend HMDA Thresholds *Extended*
October 15, 2019
The Bureau of Consumer Financial Protection (Bureau) is proposing two alternatives to amend Regulation C to increase the threshold for reporting data about closed-end mortgage loans so that institutions originating fewer than either 50 closed-end mortgage loans, or alternatively 100 closed-end mortgage loans, in either of the two preceding calendar years would not have to…
Extended Comment Period: HMDA Data Points and Coverage ANPR
October 15, 2019
The Bureau of Consumer Financial Protection (Bureau) is issuing this Advance Notice of Proposed Rulemaking (ANPR) to solicit comments relating to whether to make changes to the data points that the Bureau's October 2015 final rule implementing the Home Mortgage Disclosure Act (HMDA) added to Regulation C or revised to require additional information. Additionally, the…