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  Former CFPB attorneys critique new No-Action Letters, compliance sandbox policiesFriday, January 17, 2025 The Consumer Financial Protection Bureau (CFPB) released policy statements placing new conditions on No-Action Letters and its Compliance Assistance Sandbox Policy, intended to ensure companies use these tools for their intended purposes related to testing innovative financial products or services without fear of legal repercussions. Dodd Frank Update reached out to a pair of former CFPB attorneys for their take on the new policies. |
 Podcast: Calabria offers exclusive take on Trump 2.0, housing policyFriday, January 17, 2025 The Keys to Real Estate podcast interrupted its season break to deliver a timely and exclusive discussion with Dr. Mark Calabria, a senior advisor at the Cato Institute who served as director of the Federal Housing Finance Agency during the first Trump administration, to discuss the impact Trump’s second term could have on the housing market and the economy. |
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Barr, Hyde-Smith introduce bill to support ‘de novo’ banksFriday, January 17, 2025 Legislation introduced by Sen. Cindy Hyde-Smith (R-Miss.) and Rep. Andy Barr (R-Ky.) is intended to renew efforts to encourage the creation of banks serving rural and other underserved communities by easing federal regulatory restrictions for newly established institutions in these areas. |
Bill Pulte to be nominated for FHFA directorFriday, January 17, 2025 President-elect Donald Trump said he intends to nominate Bill Pulte to become the next director of the Federal Housing Finance Agency. If confirmed by the Senate, Pulte would take over for Sandra Thompson and become the agency’s fourth director since it was established in July 2008.
FHFA expands liquidity access for FHLBank system with final ruleFriday, January 17, 2025 In one of the Federal Housing Finance Agency’s last actions under Director Sandra Thompson, the agency issued a final rule adjusting the treatment of certain short-term Federal Home Loan Bank (FHLBank) investments to improve access to liquidity. The rule will remove capital restrictions on certain forms of unsecured credit that may be extended to FHLBanks.
MBA reports 33 percent surge in mortgage applicationsFriday, January 17, 2025 Mortgage applications surged by more than 33 percent in the week ending Jan. 10 with interest rates climbing across most loan types, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey.
FHA updates mortgagee letter on payoff statements, partial claim recordingFriday, January 17, 2025 A new mortgagee letter posted by the Federal Housing Administration (FHA) offered lenders an opportunity to review an updated draft of its policy on “Partial Claim Document Recording and Payoff Statements” on the Office of Single-Family Housing Drafting Table and provide feedback.
 CFPB proposes rule to ban ‘take-it-or-leave-it’ contract clausesTuesday, January 14, 2025 The Consumer Financial Protection Bureau issued a proposed rule seeking to ban the use of certain legal waivers and fine print in financial contracts that have the effect of forcing consumers to choose between participating in the financial system or giving up their rights, including those guaranteed by the Constitution.
 Fed plans to improve stress test transparency, trades sue over timing concernsTuesday, January 14, 2025 The Federal Reserve announced plans to update its stress testing process to improve transparency and reduce the volatility of the resulting capital buffer requirements. Although banking advocates largely support the planned changes, several industry groups filed suit in federal court seeking to prevent potential harm arising from the current stress testing regime.
 CFPB reveals annual TILA thresholds adjusted for inflationTuesday, January 14, 2025 The Consumer Financial Protection Bureau announced its annual threshold adjustments to Regulation Z, the implementing regulation for the Truth in Lending Act. The adjustments account for changes in the asset-size thresholds for certain creditors to qualify for an exemption to the requirement to establish an escrow account for a higher-priced mortgage loan.
 OCC orders BoA to address BSA deficienciesTuesday, January 14, 2025 Bank of America will work to address deficiencies in its Bank Secrecy Act and sanctions compliance programs as directed by the Office of the Comptroller of the Currency. The bank indicated it has been cooperating with regulators to address these issues for over a year.
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