OCC: Revision of Small and Intermediate Small Bank and Savings Association CRA Asset Thresholds

Summary Today the Office of the Comptroller of the Currency (OCC) announces revisions to the asset-size threshold amounts used to define “small bank or savings association” and “intermediate small bank or savings association” under the Community Reinvestment Act (CRA) regulations. The thresholds—which apply to any national bank, federal savings association, […]

Agencies Release Annual Asset-Size Thresholds Under CRA Regulations

The Federal Reserve Board and the Federal Deposit Insurance Corporation today announced the 2022 updated asset-size thresholds used to define “small bank” and “intermediate small bank” under their Community Reinvestment Act (CRA) regulations. Annual adjustments to these asset-size thresholds are based on the average change in the Consumer Price Index […]

CFPB: Final Rule Issued to Facilitate Transition from LIBOR

The Consumer Financial Protection Bureau (CFPB) today finalized a rule facilitating the transition away from the LIBOR interest rate index for consumer financial products. The rule establishes requirements for how creditors must select replacement indices for existing LIBOR-linked consumer loans after April 1, 2022. No new financial contracts may reference […]

FDIC: Office of Supervisory Appeals Launched

On December 6, 2021, the FDIC’s new Office of Supervisory Appeals (Office) became fully operational and will begin to consider and decide appeals of material supervisory determinations.  The new Office will enhance the independence of the FDIC’s supervisory appeals process and further the FDIC’s goal of ensuring consistency and accountability […]

Joint Statement on Supervisory and Enforcement Practices Regarding the Mortgage Servicing Rules in Response to the Continuing COVID-19 Pandemic

Summary: The Board of Governors of the Federal Reserve, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and state financial regulators (collectively, the agencies) are issuing a joint statement to alert industry that the supervisory […]

FHFA: Notice of Proposed Rulemaking Issued Introducing Additional Public Disclosure Requirements for the Enterprise Regulatory Capital Framework

Today, the Federal Housing Finance Agency (FHFA) announced that it is seeking comment on a notice of proposed rulemaking that would introduce additional public disclosure requirements for the Enterprise Regulatory Capital Framework (ERCF) for Fannie Mae and Freddie Mac (the Enterprises). The proposed rule would implement quarterly quantitative and qualitative […]

HUD: New Rule Issued Protecting Tenants Facing Eviction for Non-Payment of Rent in HUD-Assisted Properties

The U.S. Department of Housing and Urban Development (HUD) on Wednesday announced that it will publish a rule that prohibits the eviction of tenants facing eviction for nonpayment of rent from HUD-subsidized public housing and certain properties with project-based rental assistance without providing a 30-day notice period that includes information […]