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Comments on RESPA, Small Biz, Reducing Burdens Due in July
Wednesday, July 5, 2017 6:50 AM

Comments on Consumer Financial Protection Bureau proposals on mortgage servicing and small business lending, as well as streamlining regulations, are due in July. A list of current comment calls can be found on CUNA’s Regulatory Advocacy page.

In accordance with the Dodd-Frank Act, the bureau is requesting comment on its plan to assess the 2013 Real Estate Settlement Procedures Act (RESPA) servicing rule, as well as recommendations and information that may be useful in conducting the assessment. The CFPB seeks specific comments on feasibility and effectiveness of the plan, as well as recommendations for modifying, expanding, or eliminating the 2013 RESPA rule.

Comments are due to the CFPB by July 10, so please send your comments as soon as possible.

Other comment deadlines in July include:

July 14: CFPB request for information on small business lending market. The bureau seeks to learn more about the small business financing market, including products offered to small businesses, including women-owned and minority-owned small businesses, as well as the financial institutions that offer such credit Comments can be sent to CUNA through July 14; and

July 24: Department of Treasury request for information on regulations that can be eliminated, modified, or streamlined to reduce burdens. In response to several executive orders, the Treasury is forming a task force to evaluate existing regulations and make recommendations to the Treasury Secretary to prioritize their possible repeal, replacement or modification. Comments can be sent to CUNA through July 17.

If you have questions or need help to craft or file your own comments, visit Cornerstone's compliance site. This site is password-protected, so you'll need your Cornerstone CUpassport ID and password.

If you have questions about this issue, please contact Suzanne Yashewski at 512-853-8516 or syashewski@cornerstoneleague.coop.