April brings many special events – baseball’s home opener, spring showers to bring May flowers, and let’s not forget the CRA Public File update. Yes, the new CRA Regulation is still “on hold” by the courts, but that just means the “old” regulation (Appendix G of your current regulation) is still in force and that […]
April 1st is Fast Approaching: Did You Update Your CRA Public File? Read More »
We received an email asking if the National Flood Insurance Program (NFIP) had been reauthorized. The NFIP is not authorized perpetually and can only be “reupped” by Congress. Whenever there is an impending government shutdown deadline, such as we almost experienced on March 15, 2025, the ability to issue new flood insurance policies gets cut
NFIP Reauthorized through September 30, 2025 Read More »
If you are a federally chartered institution or a state-chartered institution in any state OTHER than Illinois, you can stop reading here unless you are interested. Like some other states, Illinois passed their own Community Reinvestment Act statute in March of 2021 which can be found at 205 ILCS 735. Part of that law requires
Have you updated your Illinois Community Reinvestment Act Lobby and Website Notice? Read More »
The FDIC delayed the implementation date for the updates to 12 CFR 328.4 (Signs for automated teller machines and like devices) and 328.5 (Signs for digital deposit-taking channels) which were originally to go into effect as of January 1, 2025, and postponed to May 1, 2025. The new mandatory compliance date is March 1, 2026.
Updates to Updates to the FDIC Official Signage Rule and Q&A Read More »
If you are a HMDA filer, CFPB has made the filing process more secure or more complicated depending on your viewpoint. According to this quick reference guide, effective January 1, 2025 a Login.gov login, which includes multifactor authentication (MFA), will be required to file your institution’s 2024 HMDA data. Users will no longer have the
New HMDA Filing Login Requirements Read More »
Below is a link to the Regulatory Updates as of the end of Q4 2024. TCA provides A Better Way for you to track Compliance updates and keep your organization on track. You can download the updates in a PDF form here. As always, TCA is here to help with A Better Way to answer
Regulatory Updates – Fourth Quarter 2024 Read More »
On December 27, 2024 the Consumer Financial Protection Bureau (CFPB) amended the Home Mortgage Disclosure Act (Regulation C) and on December 23, 2024 the Truth in Lending Act (Regulation Z), adjusting the asset-size exemption thresholds for banks, savings associations, and credit unions. Like the CRA thresholds, the adjustments are pegged increases or decreases in the
HMDA and HPML Thresholds Bumped Up for 2025 Read More »
The annual CRA asset-size thresholds for covered financial institutions were announced by the FDIC and Federal Reserve on December 19, 2024 and by the OCC on December 23, 2024 applicable for 2025. The cutoff adjustments are based on the change in the CPI-W (Consumer Price Index) for each 12-month period ending in November, rounded to
CRA Asset-size Thresholds Announced for 2025 Read More »
You are correct. Nothing pertaining to advertising is changing. The FDIC advertising rules stay the same. The gold/black signage, use of Member FDIC/FDIC-Insured that is all the same. So, on rate sheets, printed advertisements, social media, etc. there is no change. Lobby signage is an optional change. There is a provision to remove the signage
The SCRA Notice (HUD-92070) was implemented by HUD Mortgagee Letter 2006-28 and now mandated by the HUD Handbook 4000.1. The notice must: The form is technically “expired,” however since no new form has been issued yet by HUD. The expired form should still be used until replaced.
We’re here to review your current compliance strategy and help you find A Better Way to manage risk.
