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CFPB Issues Interim Final Rule on
Agencies Propose Amendments to the Regulation X.
Capital Rule Pursuant to the Economic
Growth and Regulatory Paperwork The Bureau of Consumer Financial Protection
Reduction Act. (CFPB) issued an interim final rule amending a
provision of the Regulation X mortgage servicing
The Board of Governors of the Federal Reserve rules issued in 2016 relating to the timing for
System (FRB), the Federal Deposit Insurance servicers to provide modified written early
Corporation (FDIC), and the Office of the intervention notices to borrowers who have invoked
Comptroller of the Currency (OCC) proposed their cease communication rights under the Fair Debt
amendments to the risk-based and leverage capital Collection Practices Act. CFPB requests public
requirements that would simplify compliance with comment on this interim final rule. The interim final
certain aspects of the capital rule. A majority of the rule is effective 10/19/2017. Comments are due
proposed simplifications would apply solely to 11/15/2017. The notice may be viewed at:
banking organizations that are not subject to the https://www.gpo.gov/fdsys/pkg/FR-2017-10-
advanced approaches capital rule (non-advanced 16/pdf/2017-21912.pdf. Federal Register, Vol. 82,
approaches banking organizations). Specifically, the No. 198, 10/16/2017, 47953-47958.
agencies are proposing that non-advanced approaches
banking organizations apply a simpler regulatory CFPB Proposes Amendments to
capital treatment for: Mortgage servicing assets; Regulation Z.
certain deferred tax assets arising from temporary
differences; investments in the capital of CFPB proposed amendments to certain Regulation Z
unconsolidated financial institutions; and capital mortgage servicing rules issued in 2016 relating to
issued by a consolidated subsidiary of a banking the timing for servicers to transition to providing
organization and held by third parties (minority modified or unmodified periodic statements and
interest). More generally, the proposal also includes coupon books in connection with a consumer’s
revisions to the treatment of certain acquisition, bankruptcy case. Comments are due 11/17/2017. The
development, or construction exposures that are notice may be viewed at:
designed to address comments regarding the current https://www.gpo.gov/fdsys/pkg/FR-2017-10-
definition of high volatility commercial real estate 18/pdf/2017-21907.pdf. Federal Register, Vol. 82,
exposure under the capital rule’s standardized No. 200, 10/18/2017, 48463-48469.
approach. Comments are due 12/26/2017. The notice
may be viewed at: CFPB Releases Supervisory Highlights.
https://www.gpo.gov/fdsys/pkg/FR-2017-10-
27/pdf/2017-22093.pdf. Federal Register, Vol. 82, CFPB issued the fifteenth edition of its Supervisory
No. 207, 10/27/2017, 49984-50044. Highlights. In this issue, CFPB reports examination
findings in the areas of auto finance lending; credit
Agencies Request Comment on card account management; debt collection; deposits;
Information Collection. mortgage servicing; mortgage origination; service
providers; short-term, small-dollar lending;
The Board of Governors of the Federal Reserve remittances; and fair lending. As in past editions, this
System (FRB), the Federal Deposit Insurance report includes information on CFPB’s use of its
Corporation (FDIC), and the Office of the supervisory and enforcement authority, recently
Comptroller of the Currency (OCC) announced they released examination procedures, and CFPB
seek comment on the information collection titled guidance. The notice may be viewed at:
The Consolidated Reports of Condition and Income. https://www.gpo.gov/fdsys/pkg/FR-2017-10-
The Agencies also gave notice that they sent the 19/pdf/2017-22700.pdf. Federal Register, Vol. 82,
collection to OMB for review. Comments are due No. 201, 10/19/2018, 48703-48714.
01/08/2018. The notice may be viewed at:
https://www.gpo.gov/fdsys/pkg/FR-2017-11- CFPB Requests Comment on Information
08/pdf/2017-24310.pdf. Federal Register, Vol. 82, Collection.
No. 215, 11/08/2017, 51908-51936.
CFPB announced it seeks comment on the
information collection titled Financial Coaching
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