OCC to host MSAAC meeting. The OCC announced that it will host a public meeting of the Mutual Savings Association Advisory Committee on Tuesday, May 9, 2017, starting at 8:30 a.m. Eastern Daylight Time. The purpose of the meeting is to advise the OCC on regulatory changes or other steps the OCC may be able to take to ensure the continued health and viability of mutual savings associations and other issues of concern to mutual savings associations. (4/24/2017) Federal Register Notice.
New Comptroller's Handbook Booklet: Retail Lending. The OCC announced that it has issued the “Retail Lending” booklet of the Comptroller’s Handbook. This new booklet, part of the “Safety and Soundness” category of the Comptroller’s Handbook, discusses the risks associated with retail lending and provides a framework for evaluating retail credit risk management activities. (4/12/2017)
Revised Comptroller’s Licensing Manual Booklet: National Bank Director Waivers. The OCC announced that it has issued the “National Bank Director Waivers” booklet of the Comptroller’s Licensing Manual. This revised booklet provides updated guidance on required filings when a national bank board of directors requests waivers of the citizenship and residency requirements for an individual or a group of individuals. These director requirements do not apply to directors of federal savings associations. (4/7/2017)
Effective date extension for prepaid accounts rule is finalized. The CFPB announced that it has released a final rule delaying the general effective date of our rule governing prepaid accounts by six months. The rule will now take effect on April 1, 2018. The CFPB has also decided to re-examine at least two substantive issues in the prepaid accounts rule through a separate notice and comment rulemaking process. The agency stated that it expects to release that proposal in the next few weeks. (4/20/2017)
CFPB is updating its ex parte policy on rulemaking. The CFPB announced that it is updating its ex parte policy on rulemaking, which addresses the procedures, deadlines, and exceptions for publicly disclosing ex parte presentations. (4/18/2017)
Proposal to clarify mortgage data rule. The CFPB announced a proposal to facilitate compliance with the 2015 updates to the Home Mortgage Disclosure Act (HMDA) rule. The proposed changes would help financial institutions comply with the 2015 HMDA Final Rule by clarifying the information they are required to collect and report about their mortgage lending. The proposal will be open for public comment for 30 days after its publication in the Federal Register. See Blog Posting on Proposed Changes. (4/13/2017)