A Regulatory & Legislative Advisory for Compliance Professionals
Inside . . .
2 ABA Posts
2 More Changes to
3 Assessment of
Effectiveness of QM
3 More Changes
Needed on HMDA
Requested on Debt
4 Comment Period
Extended on Small
Biz Lending RFI
4 CARD Act = Higher
5 Reg CC Final Rule,
6 Interpretation on
6 Appraisal Waiver
CLOUTHIER RECEIVES DISTINGUISHED SERVICE AWARD
At ABA’s annual Regulatory Compliance Conference on June 11. Mary Clouthier,
senior vice president and director of enterprise compliance programs for Key Bank,
received the Distinguished Service Award during the conference’s opening session.
The award, first presented in 1995, recognizes outstanding leadership, initiative and
accomplishment in banking regulatory compliance management.
An active participant in ABA compliance activities for many years, Clouthier has
authored several articles for ABA Bank Compliance magazine, served on various ABA
committees, taught at the ABA Compliance School and routinely spoken at the RCC
and other national events. Clouthier began her career as a bank examiner with the
FDIC, moving on to positions with the Federal Reserve in Philadelphia and Dallas
before joining the banking industry as a compliance executive.
ABA RELEASES SECOND EDITION OF
FREE MORTGAGE ORIGINATION DESKBOOK
ABA and law firm BuckleySandler have released the second edition of The CFPB
Mortgage Origination Rules Deskbook, a free and comprehensive reference guide to
help bankers understand and comply with the Consumer Financial Protection Bureau’s
rules when originating mortgage loans. The second edition covers all regulatory
changes issued since the deskbook was first published in 2014, and it adds an entirely
new chapter on complying with updates to the Home Mortgage Disclosure Act rules.
The ABA members-only deskbook – available in a printable electronic format –
consolidates all available CFPB compliance guidance. In addition to the rule text and
official commentary, the deskbook encompasses CFPB interpretive rules, bulletins,
small entity compliance guides, webinars and conference presentations and is
intended to be a “one stop shop” for origination compliance.
Co-authored by ABA’s Rod Alba and BuckleySandler attorneys Joseph Reilly,
Benjamin Olson, Kathleen Ryan and Joseph Kolar, the deskbook also covers ability-to-repay and Qualified Mortgage requirements, points and fees, loan originator
compensation, appraisals, high-cost mortgages, the TILA-RESPA integrated
disclosures, and QM provisions for Federal Housing Administration and Veterans
Administration loans, among others. Download the deskbook.