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Compliance Dates through 2015
Wednesday, May 27, 2015 6:25 AM

  • June 5: National Credit Union Administration corporate credit unions rule. The rule extends corporate credit unions’ maximum secured borrowing term to 180 days (from 30 days) and allows surviving corporate credit unions to count retained earnings acquired in mergers going forward;
  • July 6: NCUA associational common bond rule. Twelve new preapproved groups will be granted automatic inclusion, as well as a number of technical amendments and corrections;
  • July 18: Federal regulators higher-prices mortgage appraisals and modified exemptions for loans secured by manufactured homes. The rule exempts transactions secured by existing manufactured homes and not land from the regulation implementing the Truth in Lending Act;
  • Aug. 1: CFPB Truth in Lending Act – Real Estate Settlement Procedures Act integrated disclosures (TRID) rule. The rule provides for a universal set of forms to be used during the mortgage process, forms that clearly outline the associated costs of the loans for a borrower; and
  • Dec. 31: Internal Revenue Service Foreign Account Tax Compliance Act withholding and documentation. Withholding agents other than participating foreign financial institutions (FFIs) will be required to document payees other than prima facie FFIs.