OCC BULLETIN 2015-42
Subject: Consumer Compliance
Date: November 6, 2015
To: Chief Executive Officers and Compliance Officers of National Banks and Federal Savings Associations, Federal Branches and Agencies, Department and Division Heads, All Examining Personnel, and Other Interested Parties
Description: Initial Examinations for Compliance With TILA-RESPA Integrated Disclosure Rule
The Office of the Comptroller of the Currency (OCC) is providing guidance regarding initial examinations of OCC-supervised institutions for compliance with the Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosure Rule. The rule went into effect on October 3, 2015.
On May 1, 2015, the OCC issued Bulletin 2015-27, “Consumer Compliance: Revised Interagency Examination Procedures for Consumer Compliance,” which made available on the OCC Web site the revised interagency examination procedures for the new and amended requirements for Regulations Z and X. These requirements became effective on October 3, 2015. Most of the changes to the procedures relate to the integrated mortgage disclosure requirements under the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA). The OCC is in the process of incorporating these revised interagency procedures into the “Truth in Lending Act” and “Real Estate Settlement Procedures Act” booklets of the Comptroller's Handbook. Once the revisions are complete, examiners should use the revised booklets instead of the interagency procedures.
Please contact Kimberly Hebb, Director for Compliance Policy, at (202) 649-5470 for additional information.
Grovetta N. Gardineer