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The Federal Deposit Insurance Corporation (FDIC) has announced the release of the first in a series of three new technical assistance videos developed to assist bank employees in meeting regulatory requirements. These new videos will address compliance with certain mortgage rules issued by the Consumer Financial Protection Bureau (CFPB).
The first video covers the Ability-to-Repay (ATR) and Qualified Mortgage (QM) Rule. This video is intended for compliance officers and staff involved in ensuring the bank's mortgage lending operations comply with CFPB rules.
"The release of this video is part of the FDIC's ongoing efforts to inform supervised institutions about important regulatory issues," said Mark Pearce, Director of the Division of Depositor and Consumer Protection. "The FDIC is committed to providing technical assistance to help community banks comply with recent regulatory changes."
Two additional videos in this series will be released in the upcoming months. They will focus on the rules concerning mortgage servicing and loan originator compensation.