July 2020
Executive Briefing
Regulation Z – Credit Card Fees
The Consumer Financial Protection Bureau (CFPB) has announced the 2021 safe harbor maximum fee amounts that may be imposed when a card holder violates the terms or other requirements of a credit card account.
Regulation Z – HOEPA Loans
The Consumer Financial Protection Bureau (CFPB) is adjusting two dollar amounts that are used in the “points and fees” trigger for coverage under HOEPA (Home Ownership & Equity Protection Act).
Reg. Z – Qualified Mortgages
The Consumer Financial Protection Bureau (CFPB) is adjusting the dollar amounts that are used in the “points and fees” test for determining whether a loan is “qualified mortgage” (QM).
Bank Call Report
The Federal Financial Institutions Examination Council (FFIEC) has proposed several changes to the Bank Call Report that would become effective with the 3/31/21 filing (or later as indicated).
Short Compliance Topics
• FDIC – Brokered Deposits
• FDIC – Permissible Interest Rates
• IRS – 2020 Substitute Forms
Emerging Issues
• CARES Act Payments Protected From Garnishment
• Coronavirus-Related Distributions
• E-SIGN Modernization Act
• National Defense Authorization Act
• Paycheck Protection Program Extension
• Paycheck Protection Program Small Business Forgiveness Act
• TELEHEALTH HSA Act
