Compliance

CFPB Bulletin Highlights Furnisher Responsibilities

November 01, 2013
Furnishers of information to credit bureaus are responsible for investigating consumer disputes forwarded by the consumer reporting agencies. READ MORE

Matz: NCUA Resources to Go Where Risks Are

October 31, 2013
Video interview with the NCUA chairman addresses stress testing, corporate assessments, and more. READ MORE

Top Five Mortgage Compliance Issues to Address Now

October 23, 2013
CFPB’s new mortgage rules are a major pain point for CUs. READ MORE

Compliance Q&A: Regulation E Remittance Transfer Rule

October 20, 2013
Does the rule apply to prepaid cards purchased at a CU and sent to someone in a foreign country? READ MORE

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

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

#FinCEN smuggling & trafficking guidance

Detecting and reporting suspicious transactions is essential in the financial industry. FinCEN issued an advisory last week to help financial institutions identify “red flags” to assist with the identification and reporting of suspicious financial activities connected with human smuggling and trafficking. Detecting and reporting: Important observations when interacting with members and throughout the credit unions […]

SCRA: An Acronym You Need to Know

In May, the United States Department of Justice announced a $60 million settlement with student loan servicer Sallie Mae for alleged violations of the Servicemembers Civil Relief Act (SCRA). As a result, the once seemingly forgotten 4th fair lending law now resumes its rightful place center stage. If it’s been awhile since your credit union’s […]

Elder Justice Site Launched

Whether it has become more common due to our aging society, or it is simply more prevalent in the news, elder abuse is receiving more attention as of late.  The Department of Justice felt that this topic was deserving of additional resources, and thus created an Elder Justice website. The website contains resources for victims […]
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