Community Reinvestment Act and the Impact of the New Rule in 2024
What is the Community Reinvestment Act? The Community Reinvestment Act (CRA) was first enacted in 1977. CRA requires federal banking regulators to...
Filtered by Tag: Financial Institutions
What is Environmental, Social & Governance (ESG) and Why Does It Matter to Banks and Other Organizations?
While Environmental, Social & Governance (ESG) has been around for some time and is more prominent from a regulatory perspective in the UK, it has...
CFPB Rescinds COVID Regulatory Relief Policy Statements
Effective today, the Consumer Financial Protection Bureau (CFPB) rescinded regulatory relief that was granted March through June 2020 mostly around...
CFPB Provides Exemptions to the HPLM Escrow Rules
The Consumer Financial Protection Bureau (CFPB) is providing additional relief to financial institutions. On January 19, 2021, the CFPB issued a...
Consumer Financial Protection Bureau Finalizes Ability to Repay and Qualified Mortgage Rules
The Bureau of Consumer Financial Protection (still the CFPB) has finalized long-coming rules around Ability to Repay (ATR) and Qualified Mortgages...
Customer Due Diligence for Banks: Best Practices When Opening an Account
Lower Risk for Your Bank and Better Customer Service Starts at Account Opening Customer due diligence (CDD) at account opening is the foundation for...