A new proposed interagency rule would amend the Truth in Lending Act and set new standards for appraisals related to “higher-risk loans,” those residential mortgage loans with APRs exceeding the average prime offer rate for comparable transactions. Comments on the proposal are due October 15, except for comments on the proposal’s Paperwork Reduction Act analysis, which are due 60 days from its forthcoming publication in the Federal Register.

The Federal Reserve and OCC have extended the deadline by which borrowers can seek review of their mortgage foreclosures to December 31.

New guidance, released today, will help determine the compensation or other remedy borrowers will receive for financial injury identified during the Independent Foreclosure Review. Eligible borrowers may request a free review of their mortgage foreclosures through September 30.

The federal financial regulatory agencies have released new guidance to help ensure that mortgage servicers meet their obligations to military servicemembers who’ve received Permanent Change of Station orders.

As part of an orderly OREO disposition strategy, banking organizations may rent residential properties acquired in foreclosure and, to the extent those OREO properties meet the Community Reinvestment Act’s definition of “community development,” receive favorable CRA consideration for them.

The Federal Reserve will hold three public meetings to collect information to help it weigh the expected public benefits of Capital One Financial Corporation’s proposed acquisition of ING Bank. The meetings will take place in Washington, DC on September 20, in Chicago on September 27, and in San Francisco on October 5. Requests to testify are due September 9 for the Washington meeting, September 15 for the Chicago meeting, and September 23 for the San Francisco meeting.

The dollar threshold for consumer credit and lease transactions exempt from Regulations Z and M, respectively, has been increased to $50,000 for 2012. This annual adjustment will take effect January 1.

The fee dollar amount that triggers additional disclosures for certain home mortgage loans under the Truth in Lending Act and Home Ownership and Equity Protection Act of 1994 has been adjusted to $611 for 2012. This annual adjustment will take effect January 1.

Under a new proposed rule just published in the Federal Register, remittance transfer providers would have to make certain new disclosures to their customers, and those customers would have new rights to error resolution and cancellation. Public comments are due July 22.

Under proposed changes to the regulation, creditors would have to determine a prospective borrower's ability to repay before making a loan and establish minimum underwriting standards. These changes implement requirements imposed by the Dodd-Frank Act. Public comments on the proposal are due July 22.

The Federal Reserve and Federal Trade Commission are proposing new model forms and notices to comply with new credit score disclosure requirements included in the Dodd-Frank Wall Street Reform and Consumer Protection Act. Public comments are due 30 days after publication in the Federal Register.

In light of its July 2011 transfer of Truth In Lending authority to the new Bureau of Consumer Financial Protection, the Federal Reserve will not finalize three pending proposed amendments to Regulation Z. The proposed amendments addressed disclosures for closed-end loans and home equity lines of credit, reverse mortgages, and rescission rights.

Effective January 31, residential mortgage loan originators employed by banks, thrifts, credit unions, or the Farm Credit System must register with the Nationwide Mortgage Licensing System and Registry.

New proposed amendments to Regulation Z and Regulation M would apply the Truth In Lending Act and the Consumer Leasing Act, respectively, to consumer credit transactions and leases of up to $50,000. The current limit is $25,000. The proposed amendments are intended to implement requirements in the Dodd-Frank Wall Street Reform and Consumer Protection Act. Public comments are due February 1.

A new proposed rule would encourage depository institutions to support HUD's Neighborhood Stabilization Program (NSP) by lending and investing to support NSP activities in certain areas.

The final rule implementing the Credit CARD Act of 2009 has been approved and will take effect August 22.

A new final rule, part of the Credit CARD Act of 2009’s implementation, restricts, among other things, inactivity fees for gift cards and other kinds of prepaid products. The rule takes effect August 22.

A new proposed rule, part of the Credit CARD Act of 2009’s implementation, would protect credit card users from unreasonable late payment and other penalty fees and would require card issuers to reconsider interest rate increases. Public comments on the proposed rule are due by April 14.

The Federal Reserve has clarified the overdraft rules it issued in late 2009 under Regulations E and DD. Public comment on the proposed clarifications are due in late March. A new online manual is designed to help consumers understand new protections against overdraft fees on debit-card and ATM transactions.

The Federal Reserve has launched a new interactive website, designed to help consumers understand the new credit card protections taking effect February 22

Under new Federal Reserve and Federal Trade Commission rules, creditors must provide risk-based pricing notices to those consumers whose credit reports caused them to receive credit on terms less favorable than those applied to other consumers. The rules take effect in 2011.

The compliance date for the Department of the Treasury’s and the Federal Reserve’s joint final rule implementing certain provisions of the Unlawful Internet Gambling Enforcement Act has been extended to June 1, 2010.

New proposed rules would restrict the fees and expiration dates that apply to many gift cards. Public comments on the proposed rules are due December 21.

A new final model privacy notice, designed to enable compliance with the Financial Services Regulatory Relief Act of 2006, is now available.

An approved interim rule under the Helping Families Save Their Homes Act requires notice to consumers whose mortgage loans have been sold or transferred. Compliance with the interim rule is optional until January 19, 2010. Public comments on the interim rule are also due at that time.

Final rules requiring financial institutions to obtain consumer consent before charging fees for overdraft protection on ATM and one-time debit card transactions take effect January 19, 2010 with a mandatory compliance date of July 1, 2010.

New proposed credit card rules would restrict, among other things, interest rate increases, fees associated with subprime cards, and card issuances to consumers under the age of 21. The rules would ban double-cycle billing and payment allocations designed to maximize interest charges. Comments on the proposed rules, which would take effect next February, are due in early November.

New revisions to Regulation S will take effect January 1. The revisions will increase the fees the government pays financial institutions to assemble and produce documents under the Right to Financial Privacy Act and encourage electronic document production.

The Federal Reserve will subject nonbank subsidiaries of bank holding companies and foreign banking organizations to the consumer protection laws and regulations it enforces.

Effective January 1, 2010, the fee-based trigger for home mortgage loans will be $579.

Under new final amendments to Regulation Z, private education lenders must make additional disclosures to prospective borrowers, including disclosures about potentially less costly federal student loan programs. The amendments will take effect in early 2010.

Comments are due in late November on new proposed mortgage and HELOC disclosure rules.

Federal agencies released revised questions and answers about flood insurance, superseding the questions and answers released in 1997, and requested comment on five new ones. Comments are due September 21, 2009.

The Federal Reserve has approved an interim final rule amending Regulation Z and requiring creditors to give consumers more notice before making significant changes to credit card account terms. Public comments on the rule are due 60 days from the rule's publication in the Federal Register.

New rules and guidelines to promote the accuracy and integrity of information furnished to credit bureaus and other consumer reporting agencies have become final and will take effect July 1, 2010.

New rules and guidelines to promote the accuracy and integrity of information furnished to credit bureaus and other consumer reporting agencies have become final and will take effect July 1, 2010.

The Federal Reserve is seeking nominations for appointments to its Consumer Advisory Council.

The Federal Reserve is seeking nominations for appointments to its Consumer Advisory Council.

Federal agencies have published a set of frequently asked questions designed to help explain compliance with new identity theft rules.

The Federal Reserve has proposed clarifications to the final credit card rules it issued last December under the Federal Trade Commission and Truth in Lending Acts. Comments on the clarifications are due 30 days from the proposals' publication in the Federal Register.

The Board of Governors has proposed amendments to Regulation Z (Truth in Lending) that would apply to private student loans, including a three-day right of rescission for consumers and disclosure of a loan's total cost based on the maximum interest rate a creditor can charge. Public comments are due in May.

The Federal Reserve will help avoid preventable foreclosures on some residential mortgage assets held by a Reserve Bank.

Federal Reserve check processing operations in Charlotte will move to Atlanta on March 21. This will cause some formerly nonlocal checks to become local under Regulation CC's expedited availability rules.

Federal agencies published revised questions and answers on CRA, adding 9 answers, revising 14, and requesting comment by Mar. 9 on three new or revised answers.

Federal agencies published an updated brochure to help consumers prevent and resolve identity theft.

Depository institutions with assets of $39 million or less on December 31 are exempt from collecting HMDA data in 2009.

Comments are due in February on a proposal to give consumers a choice regarding the payment of overdrafts for automated teller machine withdrawals and one-time debit card transactions. The Federal Reserve Board also adopted a rule, effective January 1, 2010, addressing disclosure practices for overdraft services.

The Federal Reserve Board approved rules, effective July 1, 2010, to protect credit card users by prohibiting certain unfair acts or practices and improving disclosures.

Federal Reserve check processing operations in St. Louis will move to Atlanta on February 21.  This will cause some formerly nonlocal checks to become local under Regulation CC's expedited availability rules.

As they do every year, federal agencies adjusted the asset-sizes that define small and intermediate-small banks in CRA regulations.

Comments are due January 23 on revised disclosure requirements for mortgage loans, implementing recent legislation.

The Federal Reserve Board and the Treasury have adopted rules implementing the Unlawful Internet Gambling Enforcement Act of 2006.

The Federal Reserve, Treasury and FDIC published a statement on meeting the needs of creditworthy borrowers.  Consistent with safety and soundness principles and existing supervisory standards, each banking organization needs to enusre the adequacy of its capital base, enagage in appropriate loss mitigation strategies and foreclosure prevention, and reassess the incentive implications of its compensation policies. 

The Federal Reserve, Treasury and FDIC published a statement on meeting the needs of creditworthy borrowers.  Consistent with safety and soundness principles and existing supervisory standards, each banking organization needs to enusre the adequacy of its capital base, enagage in appropriate loss mitigation strategies and foreclosure prevention, and reassess the incentive implications of its compensation policies. 

Comments will be due in July on proposed rules to prohibit unfair practices regarding credit cards and overdraft services.

Comments will be due in August on proposed regulations that generally would require a creditor to provide a consumer with a risk-based pricing notice when, based on the consumer’s credit report, the creditor offers or provides credit on terms less favorable than the terms it offers or provides to others.

Federal agencies published sample information in English and Spanish that lenders may use to help consumers understand certain hybrid adjustable-rate mortgage products.

Comments are due Sept. 29 on proposed revisions to the fee schedule for reimbursing financial institutions' costs of providing customer financial records to the government.

The Federal Reserve Board amended Regulation Z to prohibit some home mortgage lending practices and restrict others, establish advertising standards, and accelerate some mortgage disclosures. Except for new escrow requirements, the changes will take effect October 1, 2009. The Board will also request comment about the definition of "higher-priced mortgage loan" in its home mortgage disclosure regulation.

Regulatory agencies updated the list of distressed and underserved nonmetropolitan middle-income geographies where bank revitalization or stabilization activities will receive CRA consideration as community development.