CFPB Provides Clarification on TRID Expectations & Liability

In December, the CFPB responded to a letter from the Mortgage Bankers Association regarding “lingering misperceptions and technical ambiguities” in TRID regulations. The CFPB’s letter states that, given inevitable yet unintentional errors in the early stages of the mortgage industry’s implementation of the regulations, regulators’ initial examinations will focus on industry members’ good faith efforts to ensure compliance with the rule. The CFPB … Read More

Cyber-Related Sanctions

The OFAC list is being updated to include persons engaging in significant malicious cyber-enabled activities. These entries on the OFAC list will include the identifier “[CYBER]”. Property in accounts held by listed persons should be placed in a blocked account, and transfers involving listed persons should be refused – similar to other entities on the OFAC list. This implements Executive … Read More