Monthly Archives: February 2015

New OCC Guidance Updates Requirements for Deposit-Related Consumer Credit Products

Earlier this month, the Office of the Comptroller of the Currency (“OCC”) issued a new publication called the “Deposit-Related Consumer Credit” document. Then, nine days later, it removed the document from its website to make revisions. Check this link for the updated booklet once it is reposted on the Treasury website: http://www.occ.treas.gov/news-issuances/bulletins/2015/bulletin-2015-13.html This updated document […]

CFPB Proposal Extends Small Creditor Status and Exemptions to More Institutions

Additional community banks, credit unions, and other institutions would benefit from a proposal of the Consumer Financial Protection Bureau (“CFPB”) to facilitate the offering of certain types of mortgages in rural and underserved areas, and to help small creditors adjust their business practices to comply with the new rules. As banking professionals know, the CFPB […]