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Federal regulators have released the last video in a series created to help bank employees meet regulatory requirements set by the Consumer Financial Protection Bureau (CFPB).
FDIC announced Friday the release of its third and final CFPB technical assistance video, which covers mortgage servicing rules put in place by the bureau last year. It follows two previous videos that dealt with the ability-to-repay and qualified mortgage rules, as well as loan officer compensation guidelines.
The video is available on FDIC's website.
Taken together, FDIC says the videos should assist compliance officers and other banking staff responsible for ensuring their firm's mortgage lending and servicing operations comply with CFPB rules.
"Today's release of the third technical assistance video on the new mortgage rules reflects our ongoing commitment to helping community banks stay up to date on the consumer compliance requirements," said Mark Pearce, director of FDIC's Division of Depositor and Consumer Protection. "Similar to the other recent mortgage rules, the CFPB's mortgage servicing rules include provisions of particular relevance to community banks, and we hope this video provides useful information tailored to community bank operations."
