Product Updates for August 2017
The Product Updates for August 2017 from BankPolicies.com feature the following new job description template product and revised policy template products:
This new product was developed in response to client requests who submitted their suggestions to our “Client Wish List.” Your comments and ideas are always greatly appreciated and will be taken into consideration whenever we revise our current products or create new ones. In summary, we want to ensure your success and earn your business.
The update to this product is in response to the OCC’s Bulletin 2017-24 dated 06/29/17 that announced a revised a “Branch Closings” booklet of the Comptroller’s Licensing Manual. The revised booklet incorporates updated branch closing procedures, requirements, and revised regulations.
The update to this product is in response to the CFPB’s Final Rule dated 07/10/17 that modifies the federal mortgage disclosure requirements under the Real Estate Settlement Procedures Act and the Truth in Lending Act that are implemented in Regulation Z. This rule memorializes the CFPB’s informal guidance on various issues and makes additional clarifications and technical amendments. In addition, the rule creates tolerances for the total of payments, adjusts a partial exemption mainly affecting housing finance agencies and nonprofits, extends coverage of the TILA-RESPA integrated disclosure (integrated disclosure) requirements to all cooperative units, and provides guidance on sharing the integrated disclosures with various parties involved in the mortgage origination process. Mandatory compliance is 10/01/18.