On May 24, 2018, the Economic Growth, Regulatory Relief and Consumer Protection Act (Regulatory Relief Act) was signed into law. The Regulatory Relief Act (also referred to as S. 2155) provides significant and specific regulatory relief to financial institutions. Some relief will be available immediately while other changes will require regulatory changes by the Bureau of Consumer Financial Protection (BCFP) or other federal regulators. This webinar will analyze the effects of the Regulatory Relief Act, specific changes, areas of relief, and what financial institutions should expect going forward.
Learn about the new safe harbor category of Qualified Mortgages, the new exemption for appraisals in rural areas under certain conditions, changes to HMDA data collection and reporting requirements for small lenders, escrow requirement changes, and changes to waiting periods prior to closing on certain mortgage loans. Additional areas of focus will include changes to the Servicemember Civil Relief Act, the Fair Credit Reporting Act, and the Truth in Lending Act. This webinar will summarize the requirements and revisions of the Regulatory Relief Act to ensure they are on your radar.
- Overview of the Regulatory Relief Act’s impact on credit unions
- Analysis of immediate versus anticipated regulatory relief
- Changes to non-owner occupied 1-to-4 family dwellings and the NCUA’s final rule making corresponding changes to its regulations
- Clarification on changes to the Home Mortgage Disclosure Act requirements
- Criteria for obtaining a safe harbor under the new category of Qualified Mortgages
- Specific attention to key provisions creating new requirements or opportunities for credit unions
- TAKE-AWAY TOOLKIT
- Detailed presentation slides with specific changes resulting from the Regulatory Relief Act
- Redlined versions of certain changes to existing laws to demonstrate new statutory text
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
WHO SHOULD ATTEND?
This informative session is designed for compliance personnel, mortgage and consumer lenders, operations staff, audit teams, and any staff responsible for understanding the impact of new requirements or easing of existing requirements.
SPEAKER: Steven Van Beek, Esq., Howard & Howard Attorneys PLLC
Steve Van Beek is an attorney at Howard & Howard Attorneys PLLC where he concentrates his practice in the area of financial regulations. He assists financial institutions throughout the country with managing and reducing compliance, legal, and reputation risks. Prior to joining Howard & Howard, he served as the Vice President of Regulatory Compliance at the National Association of Federal Credit Unions (NAFCU). He received his Bachelor’s from Hope College and his J.D. from George Mason University School of Law and is a member of the American Bar Association.