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Weekly Rewind...News from Your Regulators

CSG is scheduling now for 2022!

Call or Email CSG today to schedule compliance reviews for your Financial Institution. We are scheduling now for 2022! Get more information today!

NCUA Issues Letter on Annual Inflation Adjustments

21-RA-11 – The NCUA issued the Letter to inform institutions of the CFPB’s annual inflation adjustments. The appraisals for higher-priced mortgage loans exemption threshold increased to $28,500, from $27,200. Consumer credit and consumer lease exemption thresholds increased from $58,300 to $61,000. And, the maximum allowable charges for a credit bureau consumer reporting fee increased $0.50 to $13.50. All of the increases are effective January 1, 2022.

NCUA Releases Diversity Self-Assessment Info

21-CU-17 – The NCUA is asking credit unions to complete the Voluntary Credit Union Diversity Self-Assessment by January 15, 2022. While the Assessment is not required, it is designed to help credit unions evaluate and advance their diversity policies and practices.

From the OCC

Bulletin 2021-67 - Beginning January 1, 2022, a bank that, as of December 31 of either of the prior two calendar years, had assets of less than $1.384 billion is a “small bank or savings association” under the CRA regulations. A “small bank or savings association” with assets of at least $346 million as of December 31 of both of the prior two calendar years and less than $1.384 billion as of December 31 of either of the prior two calendar years is an “intermediate small bank or savings association” under the CRA regulations.

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