On August 10, 2018, the Bureau of Consumer Financial Protection released a final rule which “finalized amendments to implement legislation that allows financial institutions that meet certain requirements to be exempt from sending annual privacy notices to their customers.” Release.
On July 5, 2018, the Bureau of Consumer Financial Protection (the “Bureau“) issued a statement regarding the impact of the Economic Growth, Regulatory Relief and Consumer Protection Act (the “Act“) on the Home Mortgage Disclosure Act (the “HMDA“). The Act provides partial exemptions for some insured depository institutions and insured credit unions from certain HMDA requirements. The Bureau expects to provide further guidance on the applicability of the Act to the HMDA later this summer. Release.
