Consumer Financial Protection Bureau Outlines Responsibilities of Financial Firms During Pandemic
The CFPB issued a statement and FAQs outlining the responsibility of certain financial firms during the pandemic. In the statement, the Bureau outlines the billing error responsibilities of credit card issuers and other open-end non-home secured creditors during the COVID-19 pandemic.
Bank Secrecy Act/Anti-Money Laundering Examination Manual Update
The Federal Financial Institutions Examination Council (FFIEC) is updating several sections and related examination procedures in the FFIEC Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual.
Consumer Financial Protection Bureau Issues Final Remittance Rule
The CFPB announced on May 11, 2020, a final rule covering remittance transfers, relating the disclosure of exchange rates and certain fees under certain conditions.
Federal Reserve Board: Flood Insurance Compliance in Response to the Coronavirus
The Federal Reserve Board released a FAQ regarding flood insurance compliance requirements during the COVID-19 pandemic.
NMLS May Offer Remote Proctoring
The NMLS may offer a remote proctoring delivery channel as early as mid-June for candidates seeking to take the SAFE MLO exam remotely. Please view the NMLS document on their website
for additional information and updates about alternative testing options.