Compliance Watch
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Texas Court Invalidates DOL Overtime Exemption Salary Threshold Rule
A federal judge in Texas struck down the DOL's latest attempt to raise the minimum salary thresholds for the FLSA's white-collar overtime exemption, finding that the rule exceeded the agency’s statutory authority. Login Required.
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CFPB Statement on Juneteenth Holiday and Mortgage Closings
On Friday, June 18, 2021, CFPB Acting Director Dave Uejio issued the following statement... -
FHA Updates Student Loan Payment Calculations
The FHA recently announced updates to its student loan monthly payment calculations, taking steps to remove barriers and provide more access to affordable single family FHA-insured mortgage financing for creditworthy individuals with student loan debt, which has a disproportionate impact on people of color. -
NCUA Upcoming Rulings
Pending NCUA rulemaking of note includes... -
Question of the Week
Question: Do we need to close in recognition of Juneteenth (or the Friday prior as observed this year), which was just signed into law as the newest Federal holiday? Answer: It’s a business decision. -
New InfoSight Topic: Cannabis-and Hemp-Related Accounts
Make sure you check out the recently added Cannabis- and Hemp-Related Accounts topic under the Accounts channel in InfoSight! -
Juneteenth
From History.com, “Juneteenth (short for “June Nineteenth”) marks the day when federal troops arrived in Galveston, Texas, in 1865 to take control of the state and ensure that all enslaved people be freed. -
Elder Financial Exploitation Training
June 15 was designated as “World Elder Abuse Awareness Day” back in 2006, and in 2018 Congress provided the first federal definition of “financial exploitation of senior citizens” when it passed the “Immunity From Suit for Disclosures of Financial Exploitation of Senior Citizens” law. -
CFPB Issues Interpretive Rule on Authority to Resume MLA Exams
The Consumer Financial Protection Bureau issued an interpretive rule this week that explains the basis for its authority to examine supervised financial institutions for risks to active duty servicemembers and their dependents (i.e., military borrowers) from conduct that violates the Military Lending Act (MLA). -
CFPB Reg E FAQs on Unauthorized EFTs
The CFPB has posted a series of eight FAQs on unauthorized electronic fund transfers and error resolution under Regulation E on a new Electronic Fund Transfers compliance resource webpage. -
CFPB Spring 2021 Rulemaking Agenda
The CFPB has published its Spring 2021 Regulatory Agenda, which is part of the Unified Agenda of Federal Regulatory and Deregulatory Actions.
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