August 2, 2015

Advertisement

July 31, 2015

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 © 2015, Sheppard Mullin Richter & Hampton LLP.

TRENDING LEGAL ANALYSIS


About this 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.

Areas of Practice

Mr. Beall specializes in complex civil litigation and intellectual property disputes, with emphasis in unfair competition, securities, trade secret, patent and professional liability litigation. Mr. Beall...

714-513-5100
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 Legal Specialist
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.

Areas of Practice

Mr. Puglisi has extensive experience in complex and general business litigation in state and federal courts, including class actions. He has conducted numerous trials and arbitrations, including trying class and representative actions. Mr. Puglisi also has broad appellate work which includes arguments to...

310-228-3733
Robert Stumpf, Financial Institutions, Attorney, Sheppard Mullin, law firm
Of Counsel

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

Areas of Practice

Bob's principal areas of practice are commercial litigation and appellate law.  His commercial litigation practice focuses upon financial institution litigation, real estate litigation, securities litigation, contract and partnership disputes, bankruptcy litigation, and other types of complex commercial litigation.  

Bob...

415-774-3288