The final rule implements requirements & restrictions imposed by the Dodd-Frank Act concerning loan originator compensation; qualifications of, & registration or licensing of loan originators; compliance procedures for depository institutions; mandatory arbitration; & the financing of single-premium credit insurance.
The amendments to § 1026.36(h) and (i) are effective on June 1, 2013. All other provisions of the rule are effective on January 10, 2014.