On this episode of "The Ncast" monthly regulatory brief, our compliance experts discuss Juneteenth's impact on lending, Supreme Court rulings, fair lending changes, Federal Reserve data insights, and more!
Every month, Ncontracts compliance experts provide an overview and analysis of the latest regulatory updates to help you keep up with the rapidly evolving nature of the industry. In this episode, Stephanie Lyon, VP of Compliance, is joined by compliance experts Katie Ferrell and Cheryl Grizzard to discuss regulatory changes that occurred in the month of June 2021 and what they mean for your financial institution.
Hey there, guess what I just experienced on our latest "The Ncast" monthly regulatory brief episode? It's like a power-packed guide for anyone diving into the financial world! So, here's the scoop: I'm Aileen McDonough, your host and Director of Content Marketing at Ncontracts, and we're diving into the wild and exciting world of regulatory changes and trends.
I've got two amazing guests with me, Cheryl Grizzard and Katie Ferrell—both absolute geniuses when it comes to compliance stuff. And let me tell you, this episode is like a rollercoaster ride of insights, packed with everything you need to know about the whirlwind that was June.
Just when you thought June was all about summer vibes, bam, President Biden goes ahead and signs Juneteenth as a federal holiday. Crazy, right? But hold on, that's not all. This new holiday is stirring up things in the lending world, changing business state calculations and how things roll under the Truth in Lending Act and Regulation Z. So, if you're even remotely connected to residential mortgage transactions, you've got to listen in.
Oh, and brace yourself for a courtroom showdown! The Supreme Court drops a bombshell by deeming the governance of the Federal Housing Finance Authority unconstitutional. And guess what? The CFPB is in the mix too. The director shuffle, new leadership, and a potential twist in the Qualified Mortgage rule—it's like a financial drama series.
Now, let's talk fair lending. HUD's doing a 180-degree spin from the prior administration, and it's a game-changer for lenders and financial institutions. We're talking about potential impacts, reversals, and a lot of juggling in policies and practices. You want to make sure you're not missing out on this pivotal shift.
But wait, there's more! Brace yourself for a data rollercoaster. The Federal Reserve's dropping their 100 data report, and it's a treasure trove for financial institutions. We're decoding it all and giving you the insider's perspective. And then there's this slick new maps tool that's customizable and cool as heck. It's like a data playground for nerds like us!
And that's not even scratching the surface. We're diving into the Federal Reserve's latest moves, the FDIC's rule changes for community banking organizations, and a whole lot more. I'm telling you, if you're in the finance game, compliance, or just want to be in the know about the crazy world of regulations, this episode is a must-listen. Get ready to level up your financial knowledge!