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Laws and Regulations

Key laws and regulations that pertain to �౦��Ϸ����-supervised institutions; note that other laws and regulations also may apply.

• Truth in Lending Act
  • (ecfr.gov) provides access to the Consumer Financial Protection Bureau’s (CFPB) Regulation Z — Truth in Lending
  • (ecfr.gov) provides regulatory information regarding requests for relief from reimbursement pursuant to the TILA
• Ability-to-Repay/Qualified Mortgage Rule
  • provides access to the details on the sections of Regulation Z — Truth in Lending that apply to the ATR/QM Rule. Main ATR/QM Rule provisions and official interpretations can be found in:
    • § 1026.43(a), Scope
    • § 1026.43(b), Definitions
    • § 1026.43(c), Ability to repay
    • § 1026.43(d), Refinancing of non-standard mortgages
    • § 1026.43(e), Qualified mortgage
    • § 1026.43(f), Balloon-payment qualified mortgages made by certain creditors
    • § 1026.43(g), Prepayment penalties
• Real Estate Settlement Procedures Act
  • (ecfr.gov) provides access to the CFPB’s Regulation X — Real Estate Settlement Procedures
• TILA-RESPA Integrated Disclosure Rule
  • provides access to the details on the sections of Regulation Z — Truth in Lending that apply to the TRID Rule. Main TRID Rule provisions and official interpretations can be found in:
    • § 1026.19(e), (f), and (g), Procedural and timing requirements
    • § 1026.37, Content of the loan estimate
    • § 1026.38, Content of the closing disclosure
    • Supplement I to Part 1026 (including official interpretations for the above provisions)
• Flood Insurance
  • (ecfr.gov) outlines requirements regarding flood insurance including related definitions, exemptions, escrow requirements, forced placement of flood insurance, and required notifications
• Mortgage Servicing
  • provides access to the details on the sections of Regulation X — Real Estate Settlement Procedures and Regulation Z — Truth in Lending that apply to mortgage servicing. Main mortgage servicing provisions and official interpretations can be found in:
    • § 1024.17, Escrow accounts and § 1024.37, Forced placed insurance
    • § 1024.35, Error resolution procedures and § 1024.36, Requests for information
    • § 1024.38, General servicing policies, procedures and requirements
    • § 1024.39, Early intervention and § 1024.41, Loss mitigation procedures
    • § 1026.20, Disclosure requirements regarding post-consummation events
    • § 1026.36, Payment processing and § 1026.41, Periodic statements
    • § 1026.40, Continuity of Contact
    • Supplement I to Part 1024 and 1026 (including official interpretations for the above provisions)
• Home Ownership and Equity Protection Act Rule
  • (consumerfinance.gov) provides the final rule issued by the CFPB
• Homeowners Protection Act
  • (uscode.house.gov) outlines requirements for disclosures and the termination of private mortgage insurance in connection with residential mortgages.
• Secure and Fair Enforcement for Mortgage Licensing Act
  • (ecfr.gov) provides access to regulatory information regarding the secure and fair enforcement for the Mortgage Licensing Act

Supervisory Resources

Frequently asked questions, advisories, statements of policy, and other information issued by the �౦��Ϸ���� alone, or on an interagency basis, provided to address consumer protection issues.

• Truth in Lending Act
  • Section V. Lending — TILA of the �౦��Ϸ����’s Consumer Compliance Examination Manual provides an introduction to the TILA and outlines regulatory requirements as well as related examination procedures
  • Section V. Lending — TIL Restitution of the �౦��Ϸ����’s Consumer Compliance Examination Manual provides information that relates to the identification of TILA violations subject to restitution, restitution calculations, and the determination of appropriate correction action
  • (govinfo.gov) is a joint statement of policy which summarizes the restitution provisions of the TILA and explains corrective actions the financial regulatory agencies will generally intend to take in those situations in which the TILA gives the agencies the authority to take equitable remedial action
• Ability-to-Repay/Qualified Mortgage Rule
  • Interagency Statement on Supervisory Approach for Qualified and Non-Qualified Mortgage Loans clarifies safety-and-soundness and Community Reinvestment Act considerations for institutions engaged in residential mortgage lending in light of the CFPB’s Ability-to-Repay and Qualified Mortgage Standards Rule
• Real Estate Settlement Procedures Act
  • Section V. Lending — RESPA of the �౦��Ϸ����’s Consumer Compliance Examination Manual provides an introduction to the RESPA and outlines regulatory requirements as well as related examination procedures
• Flood Insurance
  • Section V. Lending — Flood Disaster Protection of the �౦��Ϸ����’s Consumer Compliance Examination Manual provides an introduction to the Flood Disaster Protection Act (FDPA) and outlines regulatory requirements as well as related examination procedures
  • 2022 Interagency Questions and Answers Regarding Flood Insurance pertain to loans in areas having special flood hazards
  • Issuance of Final Rule on Loans in Areas Having Special Flood Hazards — Private Flood Insurance implements the private flood insurance provisions of the Biggert-Waters Flood Insurance Reform Act of 2012
• Servicing
  • Section V. Lending — Homeownership Counseling Act of �౦��Ϸ����’s Consumer Compliance Examination Manual includes an introduction to Section 106(c)(5) of the Housing and Urban Development Act of 1968 and outlines regulatory requirements as well as related examination procedures
  • Section V. Lending — HOPA of the �౦��Ϸ����’s Consumer Compliance Examination Manual provides an introduction to the Homeowners Protection Act of 1998 and outlines regulatory requirements as well as related examination procedures
• Secure and Fair Enforcement for Mortgage Licensing Act
  • Section V. Compliance Lending — SAFE Act of the �౦��Ϸ����’s Consumer Compliance Examination Manual provides background, requirements, and examination procedures regarding the SAFE Act and the SAFE Act regulation concerning federal registration
• Interagency Guidance Regarding Unfair or Deceptive Credit Practices provides clarification regarding certain consumer credit practices for banks, savings associations, and federal credit unions
• Interagency Statement on Meeting the Needs of Creditworthy Borrowers provides information on several programs designed to promote financial stability and to mitigate procyclical effects of market conditions
• �౦��Ϸ����'s Supervisory Policy on Predatory Lending describes certain characteristics of predatory lending and reaffirms that such activities undermine individual, family, and community economic well-being
• Interagency Expanded Examination Guidance for Subprime Lending Programs is intended to strengthen the examination and supervision of institutions with subprime lending programs that equal or exceed 25 percent of an institution’s Tier 1 regulatory capital
• Interagency Guidance on Subprime Lending — Consumer Protection provides guidance for institutions that originate or purchase subprime loans and the consumer protection risks associated with subprime lending
• FIL-44-97 - Risks Associated with Subprime Lending outlines some general controls to effectively manage the risks associated with subprime lending
• assists in the implementation of the Consumer Protection Principles portion of the Interagency Statement on Subprime Mortgage Lending

Other Resources

Supplemental information related to consumer protection issues.

• Truth in Lending Act
  • provides information on the annual TILA threshold adjustments for exempt consumer credit transactions
  • provides resources to help industry participants understand, implement, and comply with the TILA higher-priced mortgage loan appraisal rule
  • provides resources to help industry participants understand, implement, and comply with the TILA higher-priced mortgage loan escrow rule
  • includes resources to help industry participants understand, implement, and comply with the loan originator rule
• Ability-to-Repay/Qualified Mortgage Rule
  • provides resources to help industry participants understand, implement, and comply with the ATR/QM Rule
  • provides access to the general requirements for a qualified mortgage
  • provides the advanced notice of proposed rulemaking whereby the CFPB requested information about possible revisions to Regulation Z’s general qualified mortgage definition
• Real Estate Settlement Procedures Act
  • includes the CFPB’s compliance bulletin which reminds participants in the mortgage industry of the prohibition on kickbacks and referral fees under the RESPA and describes the risks posed by entering into marketing services agreements
• TILA-RESPA Integrated Disclosure Rule
  • provides resources to help industry participants understand, implement, and comply with the TRID Rule
  • pertain to compliance with the TRID Rule
  • provides guidance to the entities that do business in rural or underserved counties and are exempt from certain regulatory requirements of the TILA
• Flood Insurance
  • provides the Federal Emergency Management Agency’s (FEMA) text of The National Flood Insurance Act of 1968 and The Flood Disaster Protection Act of 1973
  • provides access to the Standard Flood Hazard Determination Form, a list of Flood Zone Determination Companies, and the FEMA Map Service Center
• Servicing
  • provides resources to help the industry understand, implement, and comply with the mortgage servicing rules
  • provides highlights and summarizes the changes and clarifications that directly affect small servicers
• Home Ownership and Equity Protection Act Rule
  • reissues a prior interpretive rule and implementation guidance
  • provides the CFPB’s summary of the HOEPA Rule
  • provides access to listings of housing counseling agencies by state
• Secure and Fair Enforcement for Mortgage Licensing Act
  • provides resources to help industry participants understand, implement, and comply with the SAFE Act
  • pertain to compliance with the SAFE Act

Videos/Webcasts/Teleconferences

Informational videos and recordings of prior webcasts and teleconferences.

• Truth in Lending Act
  • �౦��Ϸ���� Technical Assistance Video series on Loan Originator Compensation Rule introduces the loan originator compensation rule and brings a focus on those provisions of the rule of particular interest to community banks
• Ability-to-Repay/Qualified Mortgage Rule
  • �౦��Ϸ���� Technical Assistance Video series on Ability to Repay & Qualified Mortgages discusses the ATR/QM Rule with a focus on aspects of the rule of particular interest to community bankers
• Servicing
  • �౦��Ϸ���� Technical Assistance Video series on Mortgage Servicing Rules — Small Servicers provides information on the Mortgage Servicing Rules with particular emphasis on those entities that qualify for the small servicer exemption

The �౦��Ϸ����’s Technical Assistance Video Program includes educational videos designed to provide bank directors, officers, and employees with useful information about areas of supervisory focus and regulatory changes.