A debit card geared to teenagers has generated strong interest among youth seeking financial independence and parents not
yet ready to cede all financial controls. Meriwest Credit Union’s new Flow Account allows teenagers to carry a personal
Visa Debit Card rather than cash.
If a mortgage transaction involves residential property that is new construction, and the mortgage may not close for months,
will this impact when you provide the good faith estimate to the borrower?
At press time, the National Credit Union Administration (NCUA) and all of the federal banking agencies (except the Office of Thrift Supervision) had approved the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) regulations.READ MORE
One of the things PolicyWorks continues to assist our credit union clients with is wading through the deep waters of mortgage regulation. As CFPB Director Richard Cordray has acknowledged, many of the business practices implemented by the January 2014 mortgage rules have long been standards credit unions have adhered to. However, a tidal wave of […]
One of my favorite things about being a part of the credit union movement is the cooperative spirit; how everyone has a voice and a chance to be heard. A great example of this is the comment letter – whenever an agency (such as NCUA, NACHA, CFPB, etc.) issues a proposed rule, they open the […]
There has been a lot of chatter lately by the CFPB about prepaid cards and payroll cards (which are generally a form of a reloadable prepaid card used by an employer). We should expect a lot more chatter by “late spring” when the CFPB issues proposed rules. The CFPB issued two versions of model forms in […]