2024 is going to be a big year for lending updates. Do you know what they are?

Keeping up” is the most common training goal for compliance and lending personnel. Since the late 1960’s, the steady stream of new consumer laws and regulations has been continuously supplemented by revisions of previously issued regulations. Often, compliance errors occur simply because the lender was unaware of the change.

2023 was a busy year and 2024 is no exception. Finalized Community Reinvestment Act regulations, the Regulation B Section 1071 rules to require data collection and reporting for small business loans, and the changes the CFPB wants to make to FCRA are few key ones to be aware of. Redling cases are still on the rise!