Compliance & Regulatory Updates: Oct. 21, 2020

CUNA Updates MLA Card Fee Spreadsheet for Q3
CUNA updated its Military Lending Act (MLA) credit card fee spreadsheet for the third quarter of 2020. 

HMDA Reference Tool Available
The Consumer Financial Protection Bureau (Bureau) published a reference tool for data points required to be collected, recorded and reported under Regulation C. 

Minnesota Credit Union Network Comments on CECL Proposal 
The Minnesota Credit Union Network, with input from the Regulatory Review Committee, submitted comments to the National Credit Union Administration (NCUA) on it proposed process for transitioning to Current Expected Loss CECL methodology. 

Bureau Extends Expiration Date for GSE Qualified Mortgage Loans 
On October 20 (yesterday), the Consumer Financial Protection Bureau (Bureau) issued a final rule extending the Government-Sponsored Enterprise (GSE) Patch until the mandatory compliance date of a final rule amending the General Qualified Mortgage (QM) loan definition in Regulation Z.

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