IBA Compliance Connection

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Are we required to begin distributing the CFPB’s updated HELOC brochure, or can we continue to distribute our backstock of the previous version until we run out?

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Yes, you may continue to distribute any copies you have of the previous version of the HELOC brochure until you run out. 

The CFPB’s “learn more” webpage provides that “creditors may, at their option, immediately begin using the revised HELOC brochure” or “may use earlier versions of the HELOC brochure until existing supplies are exhausted.” However, when reprinting the HELOC brochure, you should use the most current version.

For resources related to our guidance, please see:

  • Order printed copies from the U.S. Government Printing Office (English  | Spanish )”)
  • CFPB, Learn more: Navigating financial rules and regulations — HELOC brochure (“Creditors may, at their option, immediately begin using the revised HELOC brochure, or a suitable substitute, to comply with the requirements under 12 CFR 1026.40(e). The Bureau understands, however, that some may wish to use their existing stock of the HELOC brochure. Therefore, those who provide this publication may use earlier versions of the HELOC brochure until existing supplies are exhausted. When reprinting the HELOC brochure, the most recent version should be used.”)
  • Regulation Z, Requirements for home equity plans, 12 CFR 1026.40(e) (“The requirements of this section apply to open-end credit plans secured by the consumer's dwelling. . . . (e) Brochure. The home equity brochure entitled ‘What You Should Know About Home Equity Lines of Credit’ or a suitable substitute shall be provided.”)