Federal Register: Federal Reserve Board Finalizes Transfer of SAFE Act Authority to CFPB

The Federal Reserve Board's ("FRB") proposed repeal of regulations that incorporate the Secure and Fair Enforcement for Mortgage Licensing Act ("SAFE Act") Act was published in the Federal Register. As previously covered, the FRB's repeal finalizes the process of transferring its rulemaking authority for the SAFE Act to the CFPB. The amendments will become effective on June 14, 2019.