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2014-05-29
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Truth in Lending Act (Regulation Z); Loan Originator Compensation
Part II
Proposed Rules
D09002ee1bdcb31f3
D09002ee1bdcb32bd
United States
Bureau of Consumer Financial Protection
originator
org
United States Government Agency or Subagency
The Bureau of Consumer Financial Protection is publishing for public comment a proposed rule amending Regulation Z (Truth in Lending) to implement amendments to the Truth in Lending Act (TILA) made by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The proposal would implement statutory changes made by the Dodd- Frank Act to Regulation Z's current loan originator compensation provisions, including a new additional restriction on the imposition of any upfront discount points, origination points, or fees on consumers under certain circumstances. In addition, the proposal implements additional requirements imposed by the Dodd-Frank Act concerning proper qualification and registration or licensing for loan originators. The proposal also implements Dodd-Frank Act restrictions on mandatory arbitration and the financing of certain credit insurance premiums. Finally, the proposal provides additional guidance and clarification under the existing regulation's provisions restricting loan originator compensation practices, including guidance on the application of those provisions to certain profit-sharing plans and the appropriate analysis of payments to loan originators based on factors that are not terms but that may act as proxies for a transaction's terms.
77 FR 55272
https://www.govinfo.gov/app/details/FR-2012-09-07/2012-20808
2012-20808
fr07se12-18
RIN 3170-AA13
4810-AM-P
Docket No. CFPB-2012-0037
https://www.govinfo.gov/app/details/FR-2012-09-07/2012-20808
https://www.govinfo.gov/content/pkg/FR-2012-09-07/html/2012-20808.htm
https://www.govinfo.gov/content/pkg/FR-2012-09-07/pdf/2012-20808.pdf
Advertising
Consumer Protection
Credit
Credit Unions
Mortgages
National Banks
Reporting and Recordkeeping Requirements
Savings Associations
Truth in Lending
99 p.
55272
55370
77 FR 55272
Code of Federal Regulations
Title 12 Part 1026
12 CFR Part 1026
Regulation Identification Number 3170-AA13
RIN 3170-AA13
Truth in Lending Act (Regulation Z); Loan Originator Compensation; Federal Register Vol. 77, Issue
PRORULE
2012-20808
II
BUREAU OF CONSUMER FINANCIAL PROTECTION
2012-11-06
Docket No. CFPB-2012-0037
4810-AM-P
2012-20808
Proposed rule with request for public comment.
The Bureau of Consumer Financial Protection is publishing for public comment a proposed rule amending Regulation Z (Truth in Lending) to implement amendments to the Truth in Lending Act (TILA) made by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The proposal would implement statutory changes made by the Dodd- Frank Act to Regulation Z's current loan originator compensation provisions, including a new additional restriction on the imposition of any upfront discount points, origination points, or fees on consumers under certain circumstances. In addition, the proposal implements additional requirements imposed by the Dodd-Frank Act concerning proper qualification and registration or licensing for loan originators. The proposal also implements Dodd-Frank Act restrictions on mandatory arbitration and the financing of certain credit insurance premiums. Finally, the proposal provides additional guidance and clarification under the existing regulation's provisions restricting loan originator compensation practices, including guidance on the application of those provisions to certain profit-sharing plans and the appropriate analysis of payments to loan originators based on factors that are not terms but that may act as proxies for a transaction's terms.
Comments must be received on or before October 16, 2012, except for comments on the Paperwork Reduction Act analysis in part IX of this document, which must be received on or before November 6, 2012.
Daniel C. Brown and Michael G. Silver, Counsels; Krista P. Ayoub and R. Colgate Selden, Senior Counsels; Paul Mondor, Senior Counsel & Special Advisor; Charles Honig, Managing Counsel: Office of Regulations, at (202) 435-7700.
Advertising
Consumer Protection
Credit
Credit Unions
Mortgages
National Banks
Reporting and Recordkeeping Requirements
Savings Associations
Truth in Lending
Truth in Lending Act (Regulation Z); Loan Originator Compensation
,
//oira_submission@omb.eop.gov
CFPB_Public_PRA@cfpb.gov
http://daon.com/prints
http://files.consumerfinance.gov/f/201204_cfpb_LoanOriginatorCompensationBulletin.pdf
http://files.consumerfinance.gov/f/201205_cfpb_MLO_SBREFA_Outline_of_Proposals.pdf
http://files.consumerfinance.gov/f/201208_cfpb_LO_comp_SBREFA.pdf
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http://www.economy.com/default.asp
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http://www.merriam-webster.com/dictionary/arrange
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Merriam-Webster.com
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www.nmlsconsumeraccess.org
Federal Register
Vol. 77, no. 174
Office of the Federal Register, National Archives and Records Administration
2012-09-07
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315 p.
Table of Contents:
AE 2.7:
GS 4.107:
AE 2.106:
KF70.A2
https://www.govinfo.gov/app/details/FR-2012-09-07
P0b002ee1892c55c9
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0042-1219
0364-1406
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https://www.govinfo.gov/app/details/FR-2012-09-07
https://www.govinfo.gov/content/pkg/FR-2012-09-07/pdf/FR-2012-09-07.pdf
https://www.govinfo.gov/content/pkg/FR-2012-09-07/xml/FR-2012-09-07.xml
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