Compliance

In July, the Federal Trade Commission issued a final rule relating to unfair or deceptive acts and practices in mortgage loan advertisements. READ MORE

Agency issues final rule to require most private-sector employers to notify employees of their rights under the National Labor Relations Act. READ MORE

The Federal Reserve released a compliance guide that includes FAQs about the Electronic Fund Transfer Act. READ MORE

Don't file Suspicious Activity Reports without questioning the decision-making process leading to them. READ MORE

The pace, complexity, and timing of today's regulatory changes are unprecedented, requiring CUs to rethink how they do business. READ MORE

Stand up for your point of view when you face disagreements with your examiners and regulators. READ MORE

For many reasons, Donovan says it's unlikely Congress will put CUs' tax status on the table. READ MORE

The Dodd-Frank Act amended FCRA to require CUs to disclose that a credit score was used in taking any adverse employment action. READ MORE

NCUA has instructed examiners to begin sharing CAMEL ratings with federally-insured, state-chartered credit unions during all on-site insurance reviews and supervision contacts. READ MORE

Since the Federal Reserve issued its final rules on interchange fees, some financial institutions have eliminated free checking to recoup lost income. READ MORE

It is almost a holiday weekend. I know that all of you compliance folks are tired from the CFPB’s onslaught of final and proposed rules. You have been going full speed since January. And, the CFPB is going to be issuing a lot more “stuff” in June. So, I thought I would take a minute to [...]

If you remember last summer, NCUA’s Office of Consumer Protection notified over 1000 federal credit unions across the country of their eligibility for low income designation.  NCUA’s initiative was in part due to President Obama’s relief and recovery package to help drought stricken states across the country.   Many of you accepted the designation; however, do [...]

The Federal Housing Finance Agency has directed Fannie Mae and Freddie Mac to purchase only qualified mortgages as of January 10, 2014. For those of us that follow the secondary mortgage market and compliance regulations, this shouldn’t be much of a surprise.   The new CFPB rule allows for loans to be underwritten as either [...]