Compliance Blog

Jul 17, 2012

CFPB Releases Semiannual Regulatory Agenda - Spring 2012; Seminar in Seattle

Written by Steve Van Beek

CFPB Regulatory Agenda.  Yesterday, the CFPB posted its Semiannual Regulatory Agenda - for spring 2012.  The previous Semiannual Regulatory Agenda was released in February 2012.  The latest release follows the same format and includes a listing of regulations in the various rulemaking stages: prerule stage, proposed rule stage, final rule stage, long-term actions and completed actions.  

Below is a listing of the various future regulations - organized by rulemaking stage.  Keep in mind the agenda is current as of April 13, 2012 and the CFPB has taken numerous actions since putting this agenda together.    

Prerule Stage:

  • Registration of Certain Nonbank Covered Persons
  • Supervision of Larger Depository Institutions and Affiliates
  • Home Mortgage Disclosure Act (Regulation C)
  • Requirements for Prepaid Cards (Regulation E) 

Proposed Stage:

  • Amendments to TILA and FIRREA Concerning Appraisals
  • Disclosure Rules and Substantive Protection for Certain High Cost Mortgage Loans (Regulation Z)** (proposed on July 9th)
  • Mortgage Originator Standards (Regulation Z)
  • Mortgage Servicing (Regulation X; Regulation Z)
  • TILA/RESPA Mortgage Disclosure Integration (Regulation X; Regulation Z)** (proposed on July 9th)
  • Credit Card Pre-Opening Account Fees (Regulation Z)
  • Procedural Rule To Establish Supervisory Authority Over Certain Nonbank Covered Persons Based on Risk Determination
  • Supervision of Certain Nonbank Covered Persons—Defining Larger Participants in Certain Consumer Financial Product and Service Markets (LP 2) 
  • Copies of Appraisals or Other Valuations To Be Furnished by Creditor (Regulation B)

Final Rule Stage:

  • Supervision of Certain Nonbank Covered Persons—Defining Larger Participants in Certain Consumer Financial Product and Service Markets (LP 1)** (finalized on July 16th)
  • Disclosure of Records and Information
  • State Official Notification Rule
  • Rules Relating to Investigations
  • Rules of Practice for Adjudication Proceedings
  • Restatement of Federal Consumer Financial Law Regulations
  • Requirements for Escrow Accounts (Regulation Z)
  • TILA Ability to Repay (Regulation Z)
  • Confidential Treatment of Privileged Information
  • Disclosure Rules for Remittance Transactions (Regulation E)

Long-Term Actions:

  • Alternative Mortgage Transaction Parity (Regulation D)
  • Business Lending Data (Regulation B)
  • TILA Mortgage Amendments (Regulation Z) 

Completed Actions: 

  • Disclosure Rules for Remittance Transactions (Regulation E)


Only 27 potential rulemakings!!  The Regulatory Agenda also includes a short summary of each rulemaking that is useful for providing a quick overview of what will be covered by the rulemaking.  However, as last Monday's proposed rules show - a short summary doesn't do much when the proposals are 1099 pages and 293 pages.  


NAFCU's 2012 Regulatory Compliance Seminar.  Luckily, you don't have to read and understand all 27 potential rulemakings on your own.  We'll be covering quite a few of them at our 2012 Regulatory Compliance Seminar in Seattle, Washington - October 23-26.

The program-at-a-glance is available here (and we'll be including additional sessions as the proposals continue to flow).  We already have a session on the TILA/RESPA mortgage disclosures, the upcoming mortgage servicing proposal (including the periodic statement requirement) as well as a session on the remittances final rule.  Detailed session descriptions can be found here.

Remember - you do not need to be a NAFCU member to attend.  And, Save $100 if you Register by August 31st!

Click Here to Register for NAFCU's 2012 Regulatory Compliance Seminar