CFPB Resumes Military Lending Act Exams

August 19, 2021 - 2 min read

On June 23, 2021 (86 FR 32723), the Consumer Financial Protection Bureau (CFPB) issued an interpretative rule in which the CFPB asserts statutory authority to conduct examinations, at those institutions that it supervises, regarding the risks to active-duty servicemembers and their covered dependents that are presented by conduct that violates the Military Lending Act (MLA)….

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2020 HMDA Data on Mortgage Lending Available

August 16, 2021 - 2 min read

On March 31, 2021, the Consumer Financial Protection Bureau (CFPB) announced that Home Mortgage Disclosure Act (HMDA) Modified Loan Application Register (LAR) data for 2020 were published on the Federal Financial Institutions Examination Council’s HMDA Platform for approximately 4,400 HMDA filers. The published data contain loan-level information filed by financial institutions, modified to protect privacy….

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LIBOR Transition: Interagency Statement on Reference Rates

February 16, 2021 - 2 min read

On November 30, 2020, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (collectively, the Agencies) issued a joint statement to encourage banks to transition away from U.S. dollar (USD) LIBOR as reference rate as soon as practicable. Failure to prepare…

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