Compliance

After the promulgation of final regulations, the agencies expect to undertake a review of the interagency questions and answers and may propose changes as appropriate.

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CUs consistently offer lower and fewer fees than their bank competitors. READ MORE

CFPB amended Reg B to implement a Dodd-Frank Act amendment to the Equal Credit Opportunity Act. READ MORE

Agency will focus on the Equal Credit Opportunity Act, Home Mortgage Disclosure Act, and Fair Housing Act. READ MORE

The Regulation B amendment stems from Dodd-Frank Act alterations to the Equal Credit Opportunity Act concerning appraisals and other valuations. READ MORE

The law doesn't require CUs to provide written adverse action notices. READ MORE

The Official Staff Commentary to Regulation E [Comment 1005.6(b)-2] states... READ MORE

The new rules already dominate compliance planning for the next year, but CUs must save capacity for potential disclosure changes. READ MORE

The rule went into effect on March 18, 2013. READ MORE

To implement these rules, credit unions must amend policies and forms, train staff, and adopt new procedures. READ MORE

NCUA’s Office of Small Credit Union Initiatives (OSCUI) is offering yet another free webinar.  This webinar will discuss how collaboration can help Credit Unions compete and offer greater value to their members.   NCUA’s OSCUI typically fosters development for small, new and low income designation credit unions; however, this webinar is open to credit unions of [...]

Given the volume and complexity of the CFPB’s new mortgage rules related to Reg Z and Reg X, we haven’t focused much on the new Reg B appraisal rule. However, we are seeing some confusion with the timing requirements, so here is some information that hopefully clarifies the timing. The rule generally provides that a [...]

In January you were shocked at the sheer volume of mortgage rules.  From February through May you attended trainings, read summaries, or read the actual rules and began to understand them.  Now that you understand them, you know how difficult and time-consuming implementation of the new rules will be; and, now that summer is in full [...]