Compliance

How big are those risks? It’s hard to tell. READ MORE

CUs’ regulatory compliance costs are staggering, but the costs of noncompliance are even higher. READ MORE

CFPB’s “Know Before You Owe” project is an effort to combine the early disclosures required by TIL and RESPA into one document. READ MORE

Prepare now for the regulation, which goes into effect Feb. 7, 2013. READ MORE

The SAFE Act requires that credit unions subject to the Act’s requirements conduct an annual independent test. READ MORE

FinCEN mandated the electronic filing of Bank Secrecy Act (BSA) reports beginning July 1, 2012. READ MORE

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Learn more about adverse action notices. READ MORE

Outsourcing to a cloud service provider offers potential benefits such as cost reduction, flexibility, and speed. READ MORE

This protection applies during active duty, which begins on the date service begins and ends when an individual is “separated” from military service. 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 [...]