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address regulatory overlap and duplication, modernize outdated   loans includes loans that are used not only to purchase the item
          regulations, and, where authority exists, tailor regulations based   securing the loan but also to purchase related items, such as
          on the size and complexity of financial institutions.”  extended warranties on a car. They also offer clarifications about
                                                                 loans secured by a deposit account, the use of remotely created
          Created by the Dodd-Frank Act, FSOC is chaired by the
          Treasury secretary and includes the heads of almost all federal   checks to make loan payments, the ability of lenders to use the
          financial regulatory agencies, as well as an independent   right of offset and the timing of checking military status to
          insurance expert. The council noted several areas that pose risk   qualify for the MLA safe harbor.
          to financial stability, including the potential of rising deficits to   To view the revised interpretive rule visit: https://
          slow down economic growth, rising cyber risks, and the status
          quo of housing GSEs Fannie Mae and Freddie Mac.        26974.pdf

          To read the report visit:
          fsoc/studies-reports/Documents/FSOC_2017_Annual_Report.  2018 CRA Reporting Software
          pdf                                                    Now Available

          DOD Amends MLA Interpretive                            The Federal Financial Institutions Examination Council has
                                                                 released the latest version of software to be used in reporting
          Rule                                                   Community Reinvestment Act data due on March 1, 2019.
          The Department of Defense has                          To access the software visit:
          released changes to its 2016 interpretive              software.htm
          rule clarifying certain provisions of the
          Military Lending Act regulation.

          Among the amendments is a clarification
          that the exemption for purchase money

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