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ABA's Center for Regulatory Compliance is your gateway to support for meeting the challenges of managing compliance risk. We provide direct access to regulatory expertise, up-to-date reports on agency initiatives, and the resources to assist you in keeping pace with the demands of supervisory oversight.

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What's New

CFPB to Strengthen Partnership with State Regulators (5/22/13)
The CFPB and the Conference of State Bank Supervisors (CSBS), acting on behalf of state regulators, announced a framework which establishes a process for coordination on supervision and enforcement matters. The framework will apply in situations where the CFPB and state regulators share concurrent supervisory jurisdiction. The framework applies to all non-depository institutions and those depository institutions with over $10 billion in assets. Among other things, the framework provides processes for: coordinating exam schedules; developing comprehensive supervisory plans for particular institutions; coordinating information requests; streamlining information sharing; and providing advance notice of corrective actions.
CFPB Enforces RESPA, Fines Homebuilder for Real Estate Kickbacks (5/20/13)
The Consumer Financial Protection Bureau (CFPB) ordered a Texas homebuilder, Paul Taylor to pay more than $118,000 for accepting illegal referral fees through partnerships with Benchmark Bank and Willow Bend Mortgage Company. The settlement resolves violations of the Real Estate Settlement Procedures Act (RESPA) which prohibits payment or acceptance of any fee to refer customers for real estate settlement services (including but not limited to mortgage loans). The settlement amount of $118,194.20 is the full amount Paul Taylor received since early 2010 from the kickback schemes.
CFPB Clarifies 2013 Escrows Final Rule, Issues Final List of Rural, Underserved Counties (5/20/13)
The Consumer Financial Protection Bureau on May 16 issued a final rule clarifying technical aspects of its escrow rule. CFPB also released a final list of rural and underserved counties to use in conjunction with the regulation.
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