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Threshold will rise in 2025 for higher-priced mortgage loans subject to special appraisal requirements

October 4, 2024 0

The threshold will increase from $32,400 to $33,500 for higher-priced mortgage loans that are subject to special appraisal requirements, the federal banking and consumer financial protection agencies said Friday. The new threshold takes effect Jan. 1. According to the agencies [...]
Consumer loan, lease amounts with Regs Z, M protections to rise in 2025

October 4, 2024 0

Thresholds for consumer loan and lease amounts subject to certain protections of Regulation Z (Truth in Lending Act) and Regulation M (Consumer Leasing Act) will rise in 2025 from $69,500 to $71,900, federal agencies said Friday. The Consumer Financial Protection [...]
Chart aims to help nonbanks determine requirement to register order under rule

October 3, 2024 0

A chart for determining whether a nonbank entity is required to register an order under a rule from the federal consumer financial protection agency was published Thursday by the agency. The chart summarizes how the entity may determine if it [...]
Bulletin puts focus on refinance risk in commercial lending; urges measure to assess, control threats

October 3, 2024 0

Refinance risk in commercial lending at banks is addressed in a bulletin issued Thursday by the regulator of national banks. According to the Office of the Comptroller of the Currency (OCC), refinance risk occurs when borrowers will not be able [...]
All four CRA ratings show up in latest list of 55 banks rated, FDIC data shows

October 3, 2024 0

Of the 55 banks receiving their Community Reinvestment Act (CRA) evaluations ratings in July, 48 were rated “satisfactory,” according to the federal bank deposit insurer. The remaining seven were assigned “outstanding,” “needs to improve,” or “substantial noncompliance.” The Federal Deposit [...]
Half of banks using financial technology in lending to deal with compliance, servicing, survey finds

October 2, 2024 0

About half of all U.S. banks were using or considering using financial technology in their small business lending process, according to a report issued Wednesday by the federal insurer of bank deposits. However, the report by the Federal Deposit Insurance [...]
Agencies issue joint pronouncement on regulatory assistance in wake of Hurricane Helene

October 2, 2024 0

Federal financial institution regulatory agency efforts to assist banks, credit unions and their communities in areas stricken by Hurricane Helene shifted to a consolidated, coordinated approach Wednesday for regulatory relief as the regulators issued joint supervisory practices for institutions in [...]
Comments due Dec. 2 on FDIC proposal on custodial deposit accounts

October 2, 2024 0

A proposed rule to strengthen recordkeeping regarding deposits placed in insured depository institutions by third-party firms is out for comment until Dec. 2, according to a Federal Register notice Wednesday. The Federal Deposit Insurance Corp. (FDIC) Board voted unanimously Sept. [...]

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