Final Rules

  • Lending

    • The CFPB issued an interim final rule of June 23, 2020 regarding loss mitigation options for homeowners recovering from pandemic related financial hardships. The new rule will make it easier for consumer to transition out of financial hardship caused by the COVID-19 pandemic and easier for mortgage services to assist those consumers; learn more here
    • The Office of the Comptroller of the Currency (OCC) released a final rule strengthening and modernizing the agency’s regulations under the Community Reinvestment Act (CRA); learn more here
    • The Bureau issued a statement on temporary and targeted supervisory and enforcement flexibility during the COVID-19 pandemic for credit card issuers regarding electronic provision of certain Regulation Z disclosures required to be in writing; learn more here
    •  The Bureau issued a final rule amending Regulation C to adjust the thresholds for closed-end mortgage loans and open-end lines of credit; learn more here
    • The Agencies issued an interim final rule (IFR) that allows institutions supervised by the agencies to defer obtaining an appraisal or evaluation for up to 120 days after the closing of certain residential and commercial real estate loans; learn more here
    • The Bureau published a final rule delaying the August 19, 2019 compliance date for the mandatory underwriting provisions of the 2017 Payday Lending Rule to November 19, 2020; learn more here

  • BSA/AML

    • New FinCEN Guidance Affirms Its Longstanding Regulatory Framework for Virtual Currencies and a New FinCEN Advisory Warns of Threats Posed by Virtual Currency Misuse. Learn more here:  News ReleaseGuidanceAdvisory


  • Deposit / Operations

    • The Bureau has issued a final rule amending the Remittance Transfer Rule; learn more here
    • Agencies Issue Final Amendments to Regulation CC Regarding Funds Availability - Effective date July 1, 2020; learn more here
    • Prepaid Accounts under Regulation E & Regulation Z (CFPB) - Effective date of April 1, 2019; learn more here