Private Flood Insurance Requirements Effective July 1, 2019 The OCC, Federal Reserve, FDIC, FCA, and NCUA issued a joint final rule, effective July 1, 2019, requiring regulated institutions to accept certain private flood insurance policies in addition to the National Flood Insurance Program (NFIP) policies. A Private flood insurance is an insurance policy that: 1. Is issued by an insurance … Read More
Payday Lending Rule Update
Payday, Vehicle Title, and High-Cost Installment Lending Rule (Payday Lending Rule) Status & Timeline Currently, the Payday Lending Rule is stayed pursuant to a court order issued in Community Financial Services Association v. CFPB, No. 1:18-cv-00295 (W.D. Tex. Nov. 6, 2018) Compliance with the Rule is not required until the court-ordered stay is lifted. October 5, 2017 – The … Read More
January’s Regulatory Recap
January’s Regulatory Recap is available here. It includes information on HMDA, penalty adjustments, and Washington & Oregon legislative sessions. If you have any questions, please let us know. If you want the Recaps emailed to you, please complete the Contact Us information below. Law-Related Services Disclaimer. Please be advised, CSG provides financial services compliance audit and consulting services to … Read More