I’m sure many of you are in the process of finalizing budgets and plans for coming year and I wanted to give a quick overview of what the CFPB is planning for compliance in 2014.
- Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act Integrated Disclosures Final Rule (1,888 pages, effective in August 2015)
- Additional revisions to the 2013 Final Rules
- Flood Insurance amendments
- Expanded Home Mortgage Disclosure Act data collection (likely to be effective in 2015)
- Annual Privacy Notice amendments
- Overdraft regulation
- Prepaid Card regulation
- TILA Appraisal amendments
- Regulation CC amendments
- Debt Collection regulation
- Qualified Residential Mortgage regulation
And you thought 2013 was crazy!