Federal Reserve Seeks Comment regarding Savings and Loan Holding Companies 

On Friday, April 15, 2011, the Federal Reserve sought comment on a notice outlining the application of its consolidated supervisory program for bank holding companies to savings and loan holding companies for which it now has supervisory responsibility.  Such responsibility transferred from the Office of Thrift Supervision to the Federal Reserve Board under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).

Read the Federal Reserve press release

Federal Reserve Proposes Rule Under Regulation Z

On Tuesday, April 19, 2011, the Federal Reserve proposed a rule under Regulation Z, which implements the Truth in Lending Act, requiring creditors to determine a consumer's ability to repay a mortgage before making a loan.  The proposed rule implements certain requirements under the Dodd-Frank Act and would apply to all consumer mortgages, with certain exceptions.  In addition to the above, the proposed rule would implement certain limits on prepayment penalties under the Dodd-Frank Act.

Read the Federal Reserve press release

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