Regulatory Reform

August Developments

Current   |  Archive:

August 16, 2010

• The Federal Reserve Board will accept comments on a proposed rule to revise the escrow account for higher-priced, first-lien "jumbo" mortgage loans
  The Board is publishing for comment a proposed rule to amend Regulation Z, which implements the Truth in Lending Act (TILA). The proposed rule would implement Section 1461 of the recently enacted Dodd-Frank Wall Street Reform and Consumer Protection Act. Section 1461 amends TILA to provide a separate, higher threshold for determining coverage of the Board's escrow requirement applicable to higher-priced mortgage loans, for loans that exceed the maximum principal balance eligible for sale to Freddie Mac.
  Comments: Submit | View

• Federal Reserve announces final rules to protect mortgage borrowers from unfair, abusive, or deceptive lending practices that can arise from loan originator compensation practices
  

• Federal Reserve proposes enhanced consumer protections and disclosures for home mortgage transactions
  The Board proposes to amend Regulation Z, which implements the Truth in Lending Act (TILA), and the staff commentary to the regulation, as part of a comprehensive review of TILA's rules for home-secured credit. This proposal would revise the rules for the consumer's right to rescind certain open-end and closed-end loans secured by the consumer's principal dwelling.
  
  Comments: Submit | View

August 10, 2010

• Agencies Issue Advance Notice of Proposed Rulemaking Regarding Alternatives to the Use of Credit Ratings
  Interagency Advance Notice of Proposed Rulemaking regarding Alternatives to the Use of Credit Ratings in the Risk-Based Capital Guidelines of the Federal Banking Agencies.
  Comments: Submit | View