Advertisement

April 24, 2014

Consumer Financial Protection Bureau (CFPB) Releases Exam Procedure Updates For Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA)

On August 15 the Consumer Financial Protection Bureau released updates to its examination procedures in connection with the new mortgage regulations that were issued in January. These updates offer valuable guidance on how the CFPB will conduct examinations for compliance with the Truth in Lending Act and the Real Estate Settlement Procedures Act.

The updates incorporate the first set of interim TILA exam procedures from June. The CFPB Examination manual now contains updated interim exam procedures for RESPA, covering final rules issued by the CFPB through July 10, procedures for TILA, covering final rules issued by the CFPB through May 29, and the previously released interim exam procedures for the Equal Credit Opportunity Act, covering final rules issued by the CFPB through January 18.

A copy of the RESPA exam procedures released on August 15 can be found at:http://files.consumerfinance.gov/f/201308_cfpb_respa_narrative-exam-procedures.pdf

A copy of the TILA exam procedures released on August 15 can be found at: http://files.consumerfinance.gov/f/201308_cfpb_tila-narrative-exam-procedures.pdf

Copyright © 2014, Sheppard Mullin Richter & Hampton LLP.

About the Author

Robert S. Beall, Sheppard Mullin Law Firm, Litigation Attorney
Partner

Mr. Beall is a partner in the Firm's Orange County office. He currently serves as a member of the Firm's Executive Committee and as the Firm's Managing Partner. Mr. Beall previously served as Practice Group Leader for the Firm's Business Trials Practice Group.

714-513-5100

About the Author

Roy Goldberg, Litigation Attorney, Sheppard Mullin Law firm
Partner

Mr. Goldberg is a partner in the Business Trial Practice Group in the firm’s Washington, D.C. office and is the head of the firm's aviation industry team.

202-218-0007
Fred R. Puglisi, Sheppard Mullin Law Firm, Trial Attorney
Partner

Fred Puglisi is a partner in the Century City office and co-chair of the Business Trial Practice Group. He was recognized as a California Lawyer of the Year in 2003 for his successful defense and trial of a $2 billion class action.

310-228-3733

About the Author

Partner

Bob Stumpf is a partner in the firm's San Francisco office and serves as leader of the firm's Financial Institutions Litigation team.
 

415-774-3288

Boost: AJAX core statistics

Legal Disclaimer

You are responsible for reading, understanding and agreeing to the National Law Review's (NLR’s) and the National Law Forum LLC's  Terms of Use and Privacy Policy before using the National Law Review website. The National Law Review is a free to use, no-log in database of legal and business articles. The content and links on www.NatLawReview.com are intended for general information purposes only. Any legal analysis, legislative updates or other content and links should not be construed as legal or professional advice or a substitute for such advice. No attorney-client or confidential relationship is formed by the transmission of information between you and the National Law Review website or any of the law firms, attorneys or other professionals or organizations who include content on the National Law Review website. If you require legal or professional advice, kindly contact an attorney or other suitable professional advisor.  

Some states have laws and ethical rules regarding solicitation and advertisement practices by attorneys and/or other professionals. The National Law Review is not a law firm nor is www.NatLawReview.com  intended to be  a referral service for attorneys and/or other professionals. The NLR does not wish, nor does it intend, to solicit the business of anyone or to refer anyone to an attorney or other professional.  NLR does not answer legal questions nor will we refer you to an attorney or other professional if you request such information from us. 

Under certain state laws the following statements may be required on this website and we have included them in order to be in full compliance with these rules. The choice of a lawyer or other professional is an important decision and should not be based solely upon advertisements. Attorney Advertising Notice: Prior results do not guarantee a similar outcome. Statement in compliance with Texas Rules of Professional Conduct. Unless otherwise noted, attorneys are not certified by the Texas Board of Legal Specialization, nor can NLR attest to the accuracy of any notation of Legal Specialization or other Professional Credentials.

The National Law Review - National Law Forum LLC 4700 Gilbert Ave. Suite 47 #230 Western Springs, IL 60558  Telephone  (708) 357-3317 If you would ike to contact us via email please click here.