Compliance Update — Insights And Highlights July 2024

It has been a busy summer from a regulatory compliance perspective, and there is no sign of a slowdown. This article highlights a few items that may otherwise be missed but are worthwhile to take the time to check.

First, either the address or the department name may have changed on some banks' Summary of Consumer Rights on adverse action notices. The mandatory compliance date was March 20, 2024. The changes are as follows:

• Banks, savings associations, and credit unions with total assets of more than $10 billion and their affiliates: Bureau of Consumer Financial Protection, 1700 G Street NW, Washington, DC 20552
• National banks: Office of the Comptroller of the Currency, Customer Assistance Group, P.O. Box 53570, Houston, TX 77052