- CFPB is delaying the mandatory effective compliance date for its General Qualified Mortgage rule by 15 months to address credit impacts for consumers economically impacted by COVID-19.
- FHFA is implementing a new refinance option for certain low-income families with mortgages backed by Fannie Mae or Freddie Mac.
- HUD is withdrawing proposed amendments to the Equal Access Rule with the objective of preserving access to housing and other services regardless of gender identity.
Financial services regulatory and policy news
- Issues a revised Comptroller’s Handbook booklet on Credit Card Lending
- Delayed the mandatory compliance date of the General Qualified Mortgage from July 2021 to October 2022
- Issued a bulletin analyzing consumer complaint demographic data at the county level
- Published a blog on the goal of CFPB tech sprints, noting two completed to date
- Will deliberate on opportunities to increase access to capital for underrepresented founders and investors from smaller funds
- Commissioner spoke about regulatory change and the transition in SEC leadership
- Renewed temporary no-action relief for certain entities submitting swaps for clearing with DCOs
- Released a study on the link between financial literacy and financial anxiety and stress
- Launched a new round of EIDL assistance: Supplemental Targeted Advances
- FinCEN reissued certain real estate geographic targeting orders
- Hosted a virtual workshop examining digital dark patterns
- Announced a new refinance option for low-income borrowers with Enterprise-backed single-family mortgages
- Withdrew a proposed rule that would have amended the Equal Access Rule
Industry news headlines
(Some links may require subscription)
- Lawmakers clash over OCC rule validating loans sales to nonbanks (American Banker)
- Banks play a key role in push to eliminate food deserts (American Banker)
Get the latest thinking from KPMG
Quick hitting summaries of specific regulatory developments and their impact on financial services firms.
Points of View
Insights and analyses of emerging regulatory issues impacting financial services firms.