Handbook  Financial industry resources

Table of Contents

• Legal opinions issued by the DOB
  • Recent legal opinions 
  • Banks 
  • Credit unions 
  • Check cashers and sellers 
  • Finance agencies 
  • Mortgage lenders and mortgage brokers 
  • Foreign money transmittal agencies 
  • Debt collectors 
  • Small loan agencies 
  • Student Loan Servicers 
  • Electronic funds transfer systems  
  • Consumer virtual currency 
  • Consumer credit cost disclosures 
  • Miscellaneous legal opinions of the DOB 
• Decisions of the DOB and Board of Bank Incorporation 
• Deposit Return Item Fee 
• Effective regulations
  • 209 CMR 18.00: Business of Debt Collectors, Student Loan Servicers, & Third Party Loan Servicers 
  • 209 CMR 20.00: Small loans, sales finance companies and insurance premium finance companies 
  • 209 CMR 26.00: Small loans regulatory board 
  • 209 CMR 31.00: Electronic fund transfers and establishment and operation of electronic branches 
  • 209 CMR 32.00: Truth in lending 
  • 209 CMR 33.00: Conversion by co-operative banks and savings banks from mutual to stock form 
  • 209 CMR 40.00: Unfair and deceptive acts and practices in consumer transactions 
  • 209 CMR 41.00: The licensing of mortgage loan originators 
  • 209 CMR 42.00: The Licensing of Mortgage Lenders and Mortgage Brokers 
  • 209 CMR 43.00: Audit and security requirements for credit unions 
  • 209 CMR 45.00: The licensing and regulation of money services businesses 
  • 209 CMR 46.00: Community reinvestment 
  • 209 CMR 48.00: Licensee record keeping 
  • 209 CMR 49.00: Insurance sales for banks, credit unions, and lenders 
  • 209 CMR 50.00: Parity with federal credit unions 
  • 209 CMR 53.00: Determination and documentation of borrower's interest 
  • 209 CMR 54.00: Mortgage lender community investment 
  • 209 CMR 55.00: Reverse mortgage loans 
  • 209 CMR 56.00: Foreclosure prevention options 
  • 209 CMR 57.00: Flood insurance 
  • 209 CMR 58.00: Credit union branching 
• Regulations reserved or repealed by the DOB 
• Historical information on amendments to DOB regulations 
• General Regulatory Bulletins
  • 1.1-101 Examination Policy  
  • 1.1-102 Advisory Opinion and Approval Requests  
  • 1.1-104 Public Records Requests  
  • 1.1-105 Confidentiality of Reports of Examination and Related Materials  
  • 1.1-106 Examination Rating Appeal Process  
• Consumer protection Regulatory Bulletins
  • 1.3-103 Consumer Protection and Fair Lending Examinations  
  • 1.3-104 Counseling And Opt-In Requirements For Subprime Adjustable Rate Mortgage Loans Made To First Time Home Loan Borrowers  
  • 1.3-105 Alternative CRA Examination Procedures  
  • 1.3-106 Community Reinvestment and Fair Lending Policy  
• Regulatory Bulletins for banks and credit unions
  • 2.1-102 Insider Transactions  
  • 2.1-104 Branch Office Notice and Application Procedures  
  • 2.1-105 Emergency Temporary Closing of Banking Offices  
  • 2.1-106 Guidelines for “18-65” Accounts for Banks and Credit Unions  
  • 2.2-103 Exclusive Leases and Other Restrictive Agreements  
  • 2.3-102 CRA Ratings Policy  
  • 2.3-104 Student Bank Programs  
  • 2.3-106 Deposit Return Item Fees 
• Regulatory Bulletins for banks
  • 3.1-101 Supervisory Stock Conversion Standards on Bank Equity Value  
• Regulatory Bulletins for credit unions
  • 4.1-104 Amending By-Laws in Regard to Credit Union Membership  
• Regulatory Bulletins for licensees
  • 5.1-101 Enforcement Policy for Unlicensed Entities  
  • 5.1-102 Experience Requirements for Mortgage Lender and Mortgage Broker Licensing; and Education Requirements for Mortgage Loan Originator Licensing  
  • 5.1-103 Guidance on Nontraditional Mortgage Product Risks  
  • 5.1-104 Statement on Subprime Mortgage Lending  
  • 5.1-106 Reverse Mortgage Products: Guidance for Managing Compliance and Reputation Risks  
  • 5.2-101 Bond Requirements for Mortgage Lenders, Mortgage Brokers and Mortgage Loan Originators  
• Regulatory Bulletins repealed by the DOB 
• Regulatory Bulletin updates
  • Regulatory Bulletin Update 2022 
  • Regulatory Bulletin update 4 
  • Regulatory Bulletin Update 3 
  • Regulatory Bulletin Update 2  
  • Regulatory Bulletin Update  
• Regulatory Bulletin Manual  
• Industry letters and guidance
  • Industry Letter: Applicability of Third Party Loan Servicer Registration Requirement in Massachusetts 
  • Industry Letter: Financial Standards for Consumer Finance Money Services Businesses 
  • Industry Letter: Financial Standards for Check Cashers 
  • Industry Letter: Financial Standards for Small Loan Companies 
  • March 7, 2022 Industry Letter: Mortgage Servicers Participation with the Homeowner Assistance Fund (HAF) 
  • Industry Letter - CFPB 2021 Final Servicing Rule and The Homeowner Assistance Fund (HAF) 
  • Industry Letter - Dividend Approval 
  • Supervisory Alert Letter: Representment Issue 
  • Mortgage Industry Letter Regarding Financial Statements 
  • Guidance to Licensees and Registrants Regarding Employee Remote Work 
  • 2021 Annual Meeting Guidance Letters for Banks and Credit Unions 
  • 2020 Annual Meeting Guidance Letters for Banks and Credit Unions 
  • DOB Industry Guidance Re: SBA’s Paycheck Protection Program and Legal Lending Limits 
  • April 2019: Financial Capability Month 
  • The scheduled discontinuance of LIBOR as a reference rate 
  • Exemptions for certain nonprofit entities from mortgage licensing requirements 
  • Applicability of mortgage loan originator licensing to individuals employed by nonprofit entities 
  • Cyber-threats and attacks for non-depository institutions 
  • Bank industry BSA self-assessment tool 
  • Credit union industry BSA self-assessment tool 
  • Self-Assessment Guide to CRA for Mortgage Lenders 
  • Banking for marijuana-related businesses in Massachusetts 
  • Unlicensed motor vehicle sales finance companies 
  • Parity updates for the credit union industry 
  • Banking regulators seek comment on proposed small institution call report 
  • Ransomware 
  • Money transfer services fraud awareness 
  • Non-bank ATM skimming fraud 
  • ATM skimming fraud 
  • Cybersecurity Assessments & the FFIEC Cybersecurity Assessment Tool 
  • Regional Mortgage Review Boards and Regional Small Business Loan Review Boards 
  • FFIEC Cybersecurity Assessment Tool 
  • Interstate branching for credit unions 
  • Bank Modernization for the banking industry 
  • Providing gifts to directors for the credit union industry 
  • Legal list of investments for credit unions 
  • Online Annual Report System filing 
  • Credit union sensitivity to market risk  
  • Participation authority for credit unions 
  • Changes to Massachusetts reverse mortgage counseling requirements effective August 1, 2014 
  • Funding of mortgage loans 
  • Cybersecurity resources 
  • Reverse Mortgage lending for banks, credit unions, and lenders 
  • New rules addressing Qualified Mortgages and borrower’s ability to repay 
  • Collection of illegal loans in Massachusetts 
  • Non-bank ATM customers 
  • Non-bank ATM customers 
  • Compliance with Chapter 194 of the Acts of 2012, An Act Preventing Unlawful and Unnecessary Foreclosures 
  • Money transmission to foreign countries by foreign transmittal agencies  
  • Unlicensed motor vehicle sales finance companies 
  • Licensing requirements for motor vehicle "leasing" companies 
  • Federal registration requirements under the S.A.F.E. Act for all banks, their mortgage subsidiaries, and their mortgage loan originators - Reminder 
  • Truth-in-Savings 
  • Lending authorities under Chapter 454 of the Acts of 2008 
  • Mortgage loan modifications  
  • Final subprime lending guidance, amendments to 209 CMR 42.00 and proposed Regulatory Bulletin on bond for licensed lenders and brokers 
  • Reduced documentation mortgage loans 
  • Massachusetts debt collection statutes, and its applicability to debt buyers, so called 
  • Mortgage loan prepayment fee limitations  
  • Comment on Overdraft Protection Guidance  
  • Trust Preferred Securities Proposal 
  • Refund Anticipation Loan  
  • Rate-lock commitments  
  • Money service businesses requirements - Update 
  • Warning for tax preparers 
  • USA Patriot Act 
  • Decedent deposits 
  • Subprime Lending  
• List of Legal Investments 
• Licensee requirements and application 
• CRA for banks and credit unions 
• Mortgage Lender Community Investment - CRA for mortgage lenders