Compliance Council
Ashlar Village, Wallingford
10:30 a.m. - 12:30 p.m.

The Compliance Council will meet prior to the HMDA Compliance School session at Ashlar Village. There will be a half-hour break following the Council session before the HMDA session begins at 1:00 p.m.

No lunch will be provided.  However, there is food available for purchase by the visiting public at Ashlar Village.  Details will be provided at a later date.

AGENDA

Moderator:  Martha W. Howell, M&M Consulting, LLC 

I.  Overview & Introductions

II.  Old Business for Discussion
     a.  RESPA and Closed End TIL issues???
     b.  Billing Error Resolution—Fraud Affidavits—Reg. Z 226.13 and commentary
          i.  See the M&M Client Memo for July changes

III.  New Business or Concerns
     a.  M&M Compliance School in October
     b.  FDIC Supervisory Insights  article for exams under new credit card rules

IV.  Current Regulatory Updates
     a.  Unlawful Internet Gambling- Interagency Guidance in NCUA Alert 6/20/10
     b.  RESPA Section 8 Interpretive Rule about home warranty companies compensation to
          real estate brokers, in Fed Register June 25th
     c.  Flood-from FEMA continue Preferred Risk policy despite zone change
     d.  Truth in Lending
          Open End Cards and ODLs in July
          Closed End Escrows in August
          New final rule for credit card penalties on August 22
          Not yet final for HELOC disclosures—see Fed Reserve release
          Not yet final for Closed End disclosures—see Fed Reserve release
     e.  SAFE—Originator registration
          Questions concerning mortgage originators:
            Contact Maria Burgos or Beata Zuber
            Consumer Credit Division
            (860) 240-8211 or (860) 240- 8278
            Toll-free 1-800-831-7225
            E-mail: Maria Burgos or Beata Zuber
      f.  Gift Card Rules—Regulation E—effective in August

V. Summary—Next Meeting—September 2010?