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OCC BULLETIN 2018-31
To: Chief Executive Officers and Compliance Officers of National Banks, Federal Savings Associations, Federal Branches and Agencies, Department and Division Heads, All Examining Personnel, and Other Interested Parties

Description: Revised Comptroller's Handbook Booklet and Rescissions

Summary

The Office of the Comptroller of the Currency (OCC) issued today the “Truth in Lending Act” (TILA) booklet of the Comptroller's Handbook. This updated booklet replaces a similarly titled booklet issued in December 2014.

This booklet provides updated guidance and procedures to examiners in connection with changes made to Regulation Z (12 CFR 1026), which implements TILA. The updated OCC booklet includes procedures implementing the Bureau of Consumer Financial Protection’s rule: the Integrated Mortgage Disclosures Under the Real Estate Settlement Procedures Act (Regulation X) and the Truth in Lending Act (Regulation Z), which became effective in October 2015.

This bulletin makes available on the OCC website the OCC’s revised examination procedures for Regulation Z and removes the “Interagency TILA/Regulation Z Examination Manual” posted in May 2015.

Rescissions

With the issuance of this booklet, the following documents are rescinded:

  • OCC Bulletin 2014-61, “Truth in Lending Act: Revised Comptroller’s Handbook Booklet and Rescissions” (December 16, 2014).
  • The TILA sections of OCC Bulletin 2015-27, “Revised Interagency Examination Procedures for Consumer Compliance” (May 1, 2015), and OCC Bulletin 2015-42, “Initial Examinations for Compliance With TILA-RESPA Integrated Disclosure Rule” (November 6, 2015).

Note for Community Banks

This booklet applies to the examinations of OCC-supervised institutions that offer or extend consumer credit products covered by TILA.

Highlights

Significant revisions from the OCC’s 2014 TILA booklet reflect

  • requirements for integrated mortgage loan disclosures under TILA and RESPA.
  • special provisions on certain construction loans.
  • special provisions relating to small creditors and rural or underserved areas.
  • changes regarding appraisals for higher-priced mortgage loan exemptions.
  • updates to mortgage origination examination procedures.
  • added quick reference tools regarding TILA–RESPA integrated disclosures and high-cost mortgage loans.
  • updates to mortgage servicing rules and the small creditor definition.

Further Information

For more information, contact your supervisory office or Paul R. Reymann, Director for Consumer Compliance Policy, at (202) 649-5470.

 

Donna M. Murphy
Deputy Comptroller for Compliance Risk Policy

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