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 »
On December 16, 2024, the FFIEC released the public disclosures for CRA data submitted for calendar year 2023. Note: If your institution does not report CRA small business, small farm or community development lending data, then this Special Release would not apply to you. Even if your institution is not a CRA reporter, a review
FFIEC Releases 2023 CRA Public Data Tables Read More »
With the deadline for reporting entities to register their beneficial ownership information (BOI) with FinCEN’s Beneficial Ownership Secure System (BOSS) just three weeks away, the U.S. District Court of Eastern Texas issued a preliminary injunction blocking the implementation of the Corporate Transparency Act (CTA) citing that the Act is unconstitutional. Bloomberg Law published the Court’s
Beneficial Ownership Injunction Read More »
Based on the 3.4% increase in the Consumer Price Index (CPI-W) in effect on June 1, 2024, the Consumer Financial Protection Bureau (CFPB) released a few new thresholds which go into effect on January 1, 2025. They include: Additionally, these changes affected the HOEPA threshold amounts found under 1026.32 based on the 3.4% increase in
New Threshold Amounts for 2025 under Regulation Z CARD Act, HOEPA and QM Sections Read More »
It’s that time again. The NMLS 2024 Annual Renewal Period began on November 1 and will end December 31. Companies and individuals can prepare by making sure the information on their NMLS record is up to date. During this time, companies can complete their annual attestation that their record is up to date, pay their
On August 2, 2024, OFAC announced changes to its Compliance Hotline. TCA recommends that financial institutions review their policies and procedures related to OFAC to remove references to OFAC’s retired contact methods. On August 16, 2024, OFAC retired the Compliance Hotline email of [email protected] On December 31, 2024, the Compliance Hotline telephone numbers of (800)
The Board of the FDIC met on October 17, 2024, and delayed the implementation date for the updates to 12 CFR 328 Subpart A (FDIC Official Signs and Advertisement of Membership) which were to go into effect on January 1, 2025. The new mandatory compliance date is May 1, 2025. According to a memo from
Updates to the FDIC Official Signage Rule and Q&A Read More »
On October 4, 2024, the Federal Reserve Board and the Consumer Financial Protection Bureau jointly issued an increase in the exemption thresholds for Regulation Z and Regulation M exemptions, which are tied to the Consumer Price Index (CPI-W) as of June 1. Loans or leases at or below the thresholds are subject to the protections
HPML Appraisal & Regulation Z and Regulation M Exemption Dollar Thresholds for 2025 Read More »
On July 16, 2024, the FDIC published a Questions and Answers Related to the FDIC’s Part 328 Final Rule page on their website. The rule is effective as of April 1, 2024 with a mandatory compliance date of January 1, 2025. The FDIC expects to continually update the Q&A as needed. Like most Q&As, some
FDIC Issues Questions and Answers on New Signage Rule Read More »
So, if this article looks familiar, that’s because we sent out a similar version in the past three years and there can still be some confusion as some institutions are open and some are closed. On June 17, 2021, the US got its first national holiday in 38 years. June 19 has been designated as
A New Federal Holiday and an Old Federal Holiday – Alleviate The Confusion Read More »
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