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.
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