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Staff Analysis of Military Lending Act Final Rule (7/28/2015) The Department of Defense on July 22, 2015 released its final amendments to the Military Lending Act. While the DOD addressed many of ABA’s concerns, significant concerns remain. Among other restrictions, the final rule limits the “military” APR (an all-in APR) to 36 percent on consumer loans (except for mortgage and purchase money loans) made to Service members and their dependents. In addition, at minimum, banks will have to identify the military status of all applicants of “covered loans.” ABA members must login to access the document. For questions, contact ABA's Nessa Feddis or Rob Rowe​.

GAO: Further Study Needed in QM and QRM Regulations (7/27/15) The Consumer Financial Protection Bureau (Bureau), the Department of Housing and Urban Development (HUD), and six agencies should conduct further study and analysis of the qualified mortgage (QM) and qualified residential mortgage (QRM) regulations to identify if the mortgage reforms will be effective in helping consumers as intended, according to a recent study by the U.S. Government Accountability Office (GAO).


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 Upcoming Events


Aug 5

High Volatility Commercial Real Estate
Aug 5, 2015 | Briefing

Aug 20

Fair Lending Update
Aug 20, 2015 | Briefing

Oct 17

ABA National Compliance School
Oct 17-23, 2015 | Atlanta, GA

Nov 12

Developing a Culture of Compliance
Nov 12, 2015 | Briefing

Nov 15

ABA/ABA Money Laundering Enforcement Conference
Nov 15-17, 2015 | Washington, D.C.