Regulatory Developments
2012: Credit-Related
July 18, 2012: consumer Financial protection Bureau (cFpB)
Bulletin outlining supervisory expectations regarding marketing of
credit card add-on products.
http://files.consumerfinance.gov/f/201207_cfpb_bulletin_marketing_
of_credit_card_addon_products.pdf
July 16, 2012: cFpB rule permitting the agency to begin supervising
large consumer reporting agencies. Issuance is initial ruling under
the proposed rule to define larger participant in nonbank market
issued on February 17, 2012.
http://files.consumerfinance.gov/f/201207_cfpb_final-rule_defining-
larger-participants-consumer-reporting.pdf
June 28, 2012: cFpB study on reverse mortgage transactions
required by dodd-Frank Wall street reform and consumer
protection act.
https://www.federalregister.gov/articles/2012/07/02/2012-16078/
consumer-use-of-reverse-mortgages#p- 3
*Bureau is requesting public input on follow-up questions regarding reverse
mortgages by August 31, 2012.
June 27, 2012: policy statement on the cFpB’s publication of credit
card complaint data.
http://files.consumerfinance.gov/f/201206_cfpb_federal-register-
article_final-policy-statement-on-credit-card-data.pdf
June 21, 2012: Interagency guidance on mortgage servicing
practices concerning military homeowners with permanent change
of station orders.
http://files.consumerfinance.gov/f/201206_cfpb_pcs_orders_
guidance.pdf
April 19, 2012: cFpB Bulletin clarifying state reciprocity in loan
originator licensing consistent with the secure and Fair enforcement
(saFe) for mortgage licensing act.
http://www.consumerfinance.gov/pressreleases/consumer-financial-protection-bureau-clarifies-state-reciprocity-in-loan-originator-licensing/
April 18, 2012: cFpB Bulletin providing guidance regarding
compliance with the fair lending requirements of the equal credit
opportunity act.
http://www.consumerfinance.gov/pressreleases/consumer-financial-protection-bureau-to-pursue-discriminatory-lenders/
April 2, 2012: cFpB Bulletin regarding the payment of
compensation to loan originators via employer contribution to
such plans when derived from profits generated by mortgage loan
originations.
http://files.consumerfinance.gov/f/201204_cfpb_
loanoriginatorcompensationBulletin.pdf
July 9, 2012: cFpB “know Before You owe” mortgage forms,
integrated mortgage disclosures under the real estate settlement
procedures act (regulation X) and the truth In lending act
(regulation z).
http://files.consumerfinance.gov/f/201207_cfpb_proposed-rule_
integrated-mortgage-disclosures.pdf
*Comment due date for specific portions of the proposal.
Comment
Due Date
Final
Effective
Date
Mandatory
Compliance
Date
To Do
X
7/18/12
7/18/12
X
9/30/12
*
X
8/28/12
X
6/19/12
X
4/19/12
4/19/12
X
4/18/12
4/18/12
X
4/2/12
4/2/12
11/6/12
