Compliance

By proposing rules after soliciting feedback, CFPB has changed the rules of the rulemaking game—and spectators need to pay attention. READ MORE

Does the SCRA allow a servicemember to terminate an auto lease? READ MORE

Those that offer residential mortgage services must comply with the rule by Aug. 13, 2012. READ MORE

Change will create a common two-week maintenance period for all depository institutions. READ MORE

The CFPB will work extensively with consumers and the financial services industry to develop the proposed mortgage servicing rules. READ MORE

There are consequences for failing to maintain SAR confidentiality. READ MORE

Agency puts priority on consolidated mortgage disclosures. READ MORE

Understand the basics before the February 2013 compliance date. READ MORE

Your CU may be affected by CFPB’s new rule if it engages in international wire transfers or electronic bill pay. READ MORE

CUs must have a ‘permissible purpose’ to obtain credit reports under the FCRA. READ MORE

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 [...]

It’s here! Last week the CFPB issued the new final version of the remittance transfer rule. The final rule, which was originally supposed to be effective in February, has now been re-issued. The CFPB has given financial institutions additional time to comply with the rule so the new effective date is October 28, 2013. This [...]