August 22, 2018


In This Issue:

  • Revised Rules for Notaries Public (Including Remote Online Notaries) Effective As of Sunday, Aug. 19
  • TDI to Hold Hearing Aug. 24 to Consider Proposed Amendments to Basic Manual Related to Licensing and Continuing Education
  • Senate Banking Committee Announces New Date for CFPB Director Vote
  • The Financial Crisis Cost Every American $70,000, Fed Study Says

Revised Rules for Notaries Public (Including Remote Online Notaries) Effective As of Sunday, Aug. 19

TLTA | Aug. 20, 2018
The Texas Secretary of State revised Chapter 87 of Title 1, Part 4 of the Texas Administrative Code, containing administrative rules for notaries public, including online notaries. Notice of these changes was published in the Texas Register on Friday.
 
These revised rules for notaries public, including e-notaries, are effective as of Sunday, August 19, 2018. TLTA will continue to analyze these rules and monitor their implementation. A TLTA webinar regarding these revised rules is in development. 
 
If you have concerns or questions, please call us at 512.472.6593 or email tlta@tlta.com
 
Read the Revised Rules »

TDI to Hold Hearing Aug. 24 to Consider Proposed Amendments to Basic Manual Related to Licensing and Continuing Education

The Texas Department of Insurance will hold a public hearing on proposed amendments to the Title Insurance Basic Manual this Friday, Aug. 24. The proposed amendments include changes to:
  • Comply with legislative changes.
  • Streamline licensing, renewal, and other notifications.
  • Change escrow officer license expiration dates to the last day of the license holder's birth month.
  • Require registration and certification of continuing education programs.
See the full proposal and reference material »
Read TLTA's Submitted Comments »
  
The public hearing will be at 9:30 a.m., Central time on Friday, Aug. 24 in Room 100 of the William P. Hobby Jr. State Office Building, 333 Guadalupe St. in Austin. 
  
TLTA has identified several potential amendments to TDI's proposals and will be presenting those to the Department. If you have questions or comments, please submit them to Aaron Day at aaron@tlta.com or call at 512.810.8800. 
  
Additionally, TLTA will provide a thorough analysis of the changes prior to their implementation. 


Senate Banking Committee Announces New Date for CFPB Director Vote

HousingWire | Aug. 16, 2018
The committee was initially set to vote for the nomination of Kathy Kraninger as the next director of the CFPB, along with nominations for other positions, on Aug. 2. However, the night before, the Banking Committee announced the postponement of its vote.
 
This is because Senate Majority Leader Mitch McConnell announced his plan to end senate business for a short recess, saying the Senate would return on Aug. 13.
 
Now, the Senate is back in session and the committee announced it will hold Kraninger’s nomination vote, along with the vote for several other nominees, on Aug. 23. If confirmed, the vote will head to the full Senate, where Kraninger will see if she is elected as the CFPB director for a five-year term.
 
Read More »


The Financial Crisis Cost Every American $70,000, Fed Study Says

Bloomberg | Aug. 13, 2018
America never made up the growth it lost in the 2008 global financial crisis and the recession it triggered. A decade later, U.S. households are still counting the cost.
 
Gross domestic product remains well below what its 2007 trend would have implied and it’s unlikely the economy will ever make up that lost ground, according to research from the Federal Reserve Bank of San Francisco published Monday. The hit will cost the average American $70,000 in lifetime income, they estimate.
 
Read More »

TLTA has scheduled a variety of live webinars for 2018! Register now, or explore our library of more than 80 On-Demand webinars and videos covering the title industry topics you need!