Agencies Revise CRA Exam Procedures (4/21/14) The federal banking agencies on April 18 issued revised Community Reinvestment Act examination procedures. The procedures, which apply to banks with over $1.202 billion in assets at the end of either of the previous two years, reflect revisions to the CRA interagency questions and answers made in November. ABA issued a Staff Analysis in January on the final FAQs published in November.
CFPB Issues Real Estate Disclosure Forms Guide (4/18/14) The CFPB issued a guide for using the merged TILA-RESPA real estate disclosures under its rule that takes effect Aug. 1, 2015. The guide provides originators with instructions for completing the Loan Estimate and the Closing Disclosure and addresses situations that are expected to arise frequently.