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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

ABA: Revise Proposed Changes to CRA Q&As (5/17/13)
ABA recommended the banking agencies substantially revise proposed changes to the CRA Q&As. The FDIC, Federal Reserve and OCC suggested updating their guidance to encourage additional community development activities, but ABA questioned whether the changes would have the intended result. ABA was especially concerned about the proposal to ensure banks first address activities in their assessment area, pointing out that the language "in lieu of" would be far more likely to discourage banks from engaging in efforts outside their assessment area, contrary to what the agencies intended. ABA also strongly objected to a proposal that would treat community development negatively under some performance contexts and imply a duty to include community development lending as a mandatory part of lending test performance. ABA supported an agency proposal to make it easier to identify individuals and communities eligible for community development efforts and recommended favorable consideration for programs that supported USDA school lunch programs and Medicaid recipients. ABA also urged the agencies to be more flexible in permitting credit for investments in nationwide funds.
CFPB Video Guides to Mortgage Rules (5/16/13)
The Consumer Financial Protection Bureau posted video presentations on the new mortgage rules it finalized in January. The videos, which include a one-hour overview video of all the rules as well as individual spots on each rule, are part of the Bureau's efforts to provide plain-language information that is accessible to a broad array of industry constituents, especially smaller businesses with limited legal and compliance staff.
CFPB Debuts Spanish Language Website (5/16/13)
The Consumer Financial Protection Bureau launched a Spanish language website that provides access to consumer resources, including answers to 250 frequently asked questions. The answers are written in plain language by CFPB subject-matter experts and cover topics like paying for college, owning a home and sending money to another country.
Semiannual Report to Congress Reviews Operations at CFPB and Board (5/13/13)
The Office of Inspector General (OIG) recently reviewed the programs and operations of the Consumer Financial Protection Bureau (CFPB) and the Board of Governors of the Federal Reserve System (Board). The Semiannual Report to Congress describes OIG’s accomplishments and ongoing audit, inspection and evaluation work from October 1, 2012–March 31, 2013.
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