The CFPB Ombudsman has published the 2014 Annual Report to the Director (11/24/14). In addition to identifying systemic issues considered by the Ombudsman in 2014, the Report provides an update on concerns considered in 2012 and 2013 and introduces a new section entitled, The Ombudsman in Practice, which describes how the Ombudsman provides assistance, highlights issues identified by consumer groups, trade groups, or individuals and then outlines specific examples where the Ombudsman provided assistance.
IRS Announces One-Per-Year Limit on IRA Rollovers (11/24/14) Under the new rule, a taxpayer may only roll over one IRA per year no matter how many IRAs the taxpayer owns. The new rule will go into effect on January 1, 2015. For more information, contact ABA’s Phoebe Papageorgiou.
ABA Requests Meeting with DoD and Comment Extension on MLA Proposal (11/21/14) ABA and five other organizations filed comments to DoD requesting a joint meeting with the Department and the financial industry to discuss the proposed rule on Military Lending Act. The associations also filed separate comments requesting an extension of the comment period. Read ABA's Staff Analysis of the Proposed Rule. See our Summary of the Proposal .