Product Updates September 2016

Product Updates for September 2016

The Product Updates for September 2016 from feature the following revised policy template products:

Corporate Governance Policy Template
Enterprise Wide Risk Management Program Policy Template
Strategic Plan Policy Template

The update to these products is in response to OCC Bulletin 2016-25 entitled “Corporate and Risk Governance” dated 07/29/16 that announced a new “Corporate and Risk Governance” booklet of the Comptroller’s Handbook.  This new booklet updates, consolidates, and rescinds several Comptroller’s Handbook booklets.  In addition, the new booklet provides financial institutions and examiners with an overview of corporate and risk governance, the associated risks, the board and management’s roles in these activities, and examination procedures to use during supervisory activities that focus on evaluating banks’ corporate and risk governance.

As a reminder, the complete contents of the Enterprise Wide Risk Management Program Policy Template and Strategic Plan Policy Template are included within the Corporate Governance Policy Template as Topics 25 and 14 respectively.

Regulation X Policy Template
Regulation Z Policy Template

The update to these products is in response to the CFPB’s Press Release entitled “Consumer Financial Protection Bureau Expands Foreclosure Protections” dated 08/04/16 that finalized new measures to ensure that homeowners and struggling borrowers are treated fairly by mortgage servicers.  The updated rule requires servicers to provide certain borrowers with foreclosure protections more than once over the life of the loan, clarifies borrower protections when the servicing of a loan is transferred, and provides important loan information to borrowers in bankruptcy.  The changes also help ensure that surviving family members and others who inherit or receive property generally have the same protections under the CFPB’s mortgage servicing rules as the original borrower.

Keeping You Informed

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