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Now available online is an updated guide on efforts to implement the Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155). Updates of note in NAFCU's new guide are related to the Home Mortgage Disclosure Act (HMDA), real estate appraisals, credit reporting and more.

NAFCU's highly used and downloaded guide details credit union-related provisions within S. 2155, including their effective dates, whether implementation has been completed, and other specifics. The new version comes as enrollment is underway for a database to verify an individual's social security number, which the Social Security Administration was directed to create under the law. Read more here.

The new guide also reflects:

• the NCUA's final rule – issued last week – to amend the agency's regulations related to nonresidential real estate appraisals;
• the CFPB's proposed rule to increase the institutional and transactional coverage thresholds that govern reporting of HMDA data (see NAFCU's comments on the proposal here);
• the CFPB's plan to enter the pre-rule stage later this year to exempt qualifying credit unions from certain TILA escrow requirements;
• a final rule from the Federal Trade Commission to exclude certain medical debt information from veterans' credit reports;
• NAFCU's call for more consumer protections and transparency in residential Property Assessed Clean Energy (PACE) financing in response to a proposed rule from the CFPB; and
• NAFCU's request that the Federal Housing Finance Agency reconsider its proposal on how it plans to evaluate new credit scoring models for use by the government-sponsored enterprises.

The easy-to-read table is available for download. NAFCU has also detailed the implications S. 2155 will have on credit unions in various posts on its NAFCU Compliance Blog.

NAFCU continues to work with policymakers on clarifications regarding S. 2155 compliance.