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FDIC and Canada’s Deposit Insurance Corporation sign memorandum of understanding

Canada, USA - June 14 2013 On June 12, the Federal Deposit Insurance Corporation (FDIC) announced the signing of a Memorandum of Understanding (MOU) with the Canada Deposit…

CFPB amends the ability-to-repay rules regarding qualified mortgages

USA - May 31 2013 On May 29, the Consumer Financial Protection Bureau (CFPB) finalized rules to facilitate access to credit by creating specific exemptions and…

Consumer Financial Protection Bureau releases final qualified mortgage rule and proposed amendments to ability to repay rule

USA - January 25 2013 On January 10, the Consumer Financial Protection Bureau (CFPB) released a final rule (ATR Rule) to implement provisions related to the ability to…

Christina J. Grigorian

OCC issues bulletin on investor-owned residential real estate

USA - September 28 2012 On September 17, the Office of the Comptroller of the Currency (OCC), which regulates national banks and federal savings associations (collectively, banks), issued guidance on appropriate credit risk management practices for investor-owned, one- to four-family residential real estate (IORR) lending where the primary repayment source for the loan is rental income.

Christina J. Grigorian

Comptroller of the Currency revises Servicemembers Civil Relief Act exam procedures

USA - May 13 2011 On May 3, the Office of the Comptroller of the Currency (OCC) issued revised examination procedures for the Servicemembers Civil Relief Act of 2003 (SCRA).