|
Supreme Court Finds That CFPB’s Funding Structure Passes Constitutional Muster
On May 16, 2024, the U.S. Supreme Court issued a long awaited ruling in the challenge to the CFPB’s funding structure. The Court determined that the funding manner of the CFPB does not violate the Appropriations Clause of the United States Constitution. CFPB v. Cmty. Fin. Servs. Ass’n of Am. LTD, et al., No. 22-448 (U.S. May 16, 2024).
Agencies Announce Regulation CC Threshold Adjustments
By way of background, Federal Reserve Board (FRB) Regulation CC (12 CFR Part 229) implements the Expedited Funds Availability Act, 12 USC 4001 et seq. (EFA Act) and the Check Clearing for the 21st Century Act, 12 U.S.C. 5001 et seq. (Check 21 Act).
CFPB Extends Compliance Dates for Small Business Data Collection Rule in Response to U.S. Supreme Court Ruling
Dodd-Frank Act Section 1071 (Section 1071) added small business loan data collection requirements to the Equal Credit Opportunity Act (ECOA) found in ECOA Section 704B (15 USC 1691c-2). On March 30, 2023, the CFPB issued a final rule to implement Section 1071 (SBLR). 88 FR 35150.
FDIC Reintroduces Proposed Rule on Incentive Compensation
In April 2011, the federal financial regulators published proposed rules to implement Section 956 of the Dodd-Frank Reform Act (the “2011 Proposed Rule”).
FFIEC Releases HMDA Reporting Guide
The FFIEC recently announced the release of the 2024 version of the “A Guide to HMDA Reporting: Getting it Right!”
Table of Contents
CONSUMER FINANCE
-
Supreme Court Finds That CFPB’s Funding Structure Passes Constitutional Muster
-
CFPB Issues BNPL Interpretive Rule
-
Litigation Update: CFPB Credit Card Final Rule Effective Date Delayed
-
CFPB Publishes Request for Information on Mortgage Loan Closing Costs
-
California “Junk Fee” Law Becomes Operative July 1, 2024; Cal AG Publishes FAQS
BANKING OPERATIONS & FINTECH
-
Agencies Announce Regulation CC Threshold Adjustments
-
Banking Agencies Release Third-Party Risk Management Guide
-
CFPB Publishes Report on Health Savings Account UDAAP Risks
-
CFPB Publishes New “Junk Fee” Report; Correlates Complex Fee Structures, High Prices
-
FinCEN Seeks Comment on CIP
COMMERCIAL LENDING
-
CFPB Extends Compliance Dates for Small Business Data Collection Rule in Response to U.S. Supreme Court Ruling
-
An Overview of Compliance Requirements for Commercial Loans
CORPORATE GOVERNANCE
-
FDIC Reintroduces Proposed Rule on Incentive Compensation
-
Federal Reserve Article Addresses Risks with Uninsured and Nontraditional Deposit Sources
-
President Biden Vetoes Congressional Resolution to Overturn SEC Accounting Guidance on Crypto Assets
-
Host State Loan-to-Deposit Ratios Updated
CRA/HMDA CORNER
-
FFIEC Releases HMDA Reporting Guide
|
