Credit unions are on notice by their federal regulator that the consumer financial protection agency has issued a final rule adjusting 2020 thresholds and fee caps under parts of the Truth in Lending Act (TILA, […]
The so-called “GSE patch” under the CFPB’s ability-to-repay mortgage rules, which provides a temporary qualified mortgage (QM) safe harbor with no debt-to-income cap applied, expires Jan. 10, 2021. This temporary QM category is for mortgages eligible […]
The dollar-amount thresholds that trigger various penalty and disclosure requirements under Regulation Z, implementing the Truth in Lending Act (TILA), have been adjusted effective Jan. 1, 2020, by the Consumer Financial Protection Bureau (CFPB) through […]
Title: Qualified Mortgage Definition under the Truth in Lending Act (Regulation Z) Subject: Qualified mortgage Agency: CFPB Status: ANPR Summary: With certain exceptions, Regulation Z requires creditors to make a reasonable, good faith determination of […]
The federal agency charged with consumer financial protection on Thursday issued an advance notice of proposed rulemaking (ANPR) that asks, among other things, whether a direct measure of a consumer’s personal finances – such as […]
Failures by banks to properly calculate or disclose finance charges, or annual percentage rate for mortgage loans, and other violations under the Truth in Lending Act (TILA, Regulation Z) were the top violations reported last […]
A fact sheet addressing whether a “Loan Estimate and Closing Disclosure” is required under federal truth-in-lending and settlement procedures disclosures when a mortgage is assumed was published Wednesday by the federal consumer financial protection agency. […]
An updated list of rural and underserved counties where lenders are exempt from certain Truth in Lending Act (TILA) mortgage rule requirements has been published by the Consumer Financial Protection Bureau (CFPB) and announced to […]
Title: Truth in Lending Act (Regulation Z) Adjustment to Asset-Size Exemption Threshold Subject: Reg Z Agency: CFPB Status: Final rule; official interpretation Summary: The Bureau of Consumer Financial Protection (Bureau) is amending the official commentary […]
An asset-size adjustment by the Consumer Financial Protection Bureau (CFPB) for lenders exempt from escrow requirements for higher-priced loans was published in the Federal Register Monday – the last of several CFPB notices that had […]
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