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In a letter addressed to SEC Chair Mary Jo White, a group of 44 senators expressed their support for a petition of rulemaking that would require public companies to disclose their political spending to shareholders pursuant to Section 14 of the Securities Exchange Act. The letter conveyed the senators' opinion that "because shareholders are the true owners of the corporation, a public company should be required to disclose to its owners how their money is being spent." The senators observed that the SEC has received "more than 1 million public comments" supporting the petition, including

The CFPB has proposed to amend Regulation Z, which implements the Truth in Lending Act ("TILA"). As amended by Dodd-Frank, TILA requires mortgage lenders to make "reasonable, good faith determinations" that customers are able to repay loans, and establishes minimum requirements for making such determinations. The CFPB has proposed amendments to Regulation Z that would provide certain exceptions from these requirements, including exemptions for certain nonprofit creditors and certain homeownership stabilization programs, as well as an additional definition of a "qualified mortgage" for certain

The CFPB is amending Regulation Z, which implements the Truth in Lending Act ("TILA"). Regulation Z generally prohibits a creditor from making a mortgage loan unless the creditor determines that the consumer will have the ability to repay the loan. The final rule provides an exemption to these requirements for creditors with certain designations, loans pursuant to certain programs, certain nonprofit creditors, and mortgage loans made in connection with certain Federal emergency economic stabilization programs. The final rule also provides an additional definition of a qualified mortgage for

The CFPB published in the Federal Register final amendments to Regulation Z regarding its "Ability-to-Repay" rule requiring mortgage lenders to make "reasonable, good faith determinations" that customers are able to repay loans, and establishing minimum requirements for making such determinations. Click hereto view our original story on the Final Rule. Effective Date : January 10, 2014. View rule release in full: 78 FR 6407 .