United States:
Federal Register: FRB Proposes To Amend Certain Rules To Transfer SAFE Act Authority To CFPB
01 October 2018
Cadwalader, Wickersham & Taft LLP
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The Federal Reserve Board ("FRB") proposed amendments
to provisions of
Regulation H and
Regulation K that incorporate the
Secure and Fair Enforcement for Mortgage Licensing Act
("SAFE Act"). The proposed amendments were published in the Federal Register. Comments on
the proposed changes must be submitted by November 26, 2018.
As
previously covered, the proposal concerns the rulemaking authority
under the SAFE Act that has been transferred from the FRB to the
Consumer Financial Protection Bureau ("CFPB"), which
previously adopted its own rules under the SAFE Act.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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