Compliance

FinCEN Reports a Decline in Mortgage Fraud SAR Filings

October 14, 2013
SAR filings grew every year between 2001 and 2011. READ MORE

Mortgage Servicing Rule: A Moving Target

October 01, 2013
The CFPB revisions to the mortgage servicing rule demonstrate the agency’s attentiveness to lenders’ concerns. READ MORE

CFPB Clarifies Ability-to-Repay and Mortgage Servicing Rules

September 26, 2013
These changes become effective Jan. 10, 2014, along with the rest of ATR and mortgage servicing rules. READ MORE

CFPB Publishes Mortgage Rules Readiness Guide

September 19, 2013
Updated periodically, the guide is designed for use by institutions of all sizes. READ MORE

Get Your Whole House in Order

September 16, 2013
Two areas warrant the particular attention of CU staff: fair lending policies and HMDA accuracy. READ MORE

Get Ready for CFPB’s Ability-To-Repay Rule

September 08, 2013
This final rule expands the ATR requirements to include most closed-end mortgages—with a few exceptions. READ MORE

Compliance Q&A: Record Keeping Requirements for Prescreened Credit Offers

September 01, 2013
Anyone who makes a prescreened credit offer must maintain specific records for three years, per the Fair Credit Reporting Act. READ MORE

NCUA Loan Participation Rule Effective Sept. 23

September 01, 2013
The NCUA Board approved a final rule in June to revise its loan participation rules READ MORE

Overdraft Report Raises Consumer Concerns

August 19, 2013
Despite the report, the CFPB isn’t expected to issue a rule to regulate overdraft practices this year. READ MORE

CFPB’s Exam Procedures Are Valuable Tools

August 18, 2013
Review them to survive the tidal wave of new regulations and bolster your compliance efforts. READ MORE

The Works Blog The Works Blog is produced by PolicyWorks LLC, Des Moines, Iowa.

CFPB Action on Deceptive Advertising

In February, the CFPB took action against three mortgage companies, Flagship Financial Group , American Preferred Lending , and All Financial Services , for allegedly violating Regulation N, Mortgage Acts and Practices Advertising.  This rule prohibits “any person to make...

Integrated Disclosures: Will You ComplyRight?

The next big ticket item on your compliance to-do is preparing for the CFPB’s Integrated Disclosures rule which becomes effective August 1st. The rule combines the disclosures required under Regulation Z and RESPA into...

Don’t Be Late for These Very Important Dates!

The clock is ticking on two deadlines that may benefit your credit union!  First off – the CFPB is accepting applications for its advisory groups, including the Credit Union Advisory Council.  The council was...
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