The Consumer Financial Protection Bureau (CFPB) has issued its long-awaited final rule on small business lending. The 888-page rule implements Section 1071 of the Dodd-Frank Act. Although Congress enacted this provision in 2010, a proposed rule was n...

The Second Circuit Court of Appeals has ruled the Consumer Financial Protection Bureau (CFPB)’s funding structure as “not unconstitutional”. This is contrary to the conclusion reached by the Fifth Circuit Court of Appeals on Oct. 19...

While Small Business Administration (SBA) loans bring added value to your institution and its customers/members, they don’t come without added risk. Assessing credit risk levels and evaluating risk management processes, an independent loan review s...

On March 17, 2023, the Department of Housing and Urban Development (HUD) issued a 184-page final rule reversing an early rule imposed in 2020, which limited the application of the effects test. The effects test refers to the principle that discri...

On March 13, 2023, the Consumer Financial Protection Bureau (CFPB) issued a blog about bias in home appraisals. The CFPB explains the Equal Housing Opportunity Act (ECOA) and the Fair Housing Act (FHA) apply to home appraisals. As such, appraiser con...

Financial institutions had to take many steps to calculate an allowance for loan losses under the current expected credit losses (CECL) methodology. With implementation now behind us, making sure your institution is ready for its next regulatory exam...

In prepared remarks to the CUNA Government Affairs Conference on Feb. 27, 2023, National Credit Union Administration (NCUA) Chairman Todd Harper announced the start of a process to create enhanced consumer compliance testing for credit unions. Harper...

The National Credit Union Administration (NCUA) recently released a reminder to credit unions addressing acceptable activities and services for credit union service organizations (CUSOs). The final rule, which went into effect on Nov. 26, 2021, expan...