Compliance

'Staff Up' to Meet Compliance Burden

January 01, 2011
Compliance staff must be involved in all significant business initiatives early on. READ MORE

No Reg Relief in Sight

January 01, 2011
CUs' compliance load just keeps getting heavier. READ MORE

FACT Act Final Rule: Are You Ready?

December 27, 2010
The time has come to implement the risk-based pricing notice requirements under the FACT Act. READ MORE

Beware the Fed’s Proposals Within Proposals

December 27, 2010
Buried within a Fed proposal regarding reverse mortgages and the right of rescission are additional disclosures for insurance products. READ MORE

Confusion Reigns Over Reg Z Changes

December 21, 2010
A rash of recent Regulation Z mortgage lending changes has heads spinning. READ MORE

Fed Proposes New Consumer Protection Regs

December 14, 2010
The proposed rules would amend Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing) to implement a provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). READ MORE

Compliance Q&A: Open-End Loans

December 03, 2010
What's the rule for mailing statements on open-end loans without grace periods? READ MORE

Compliance Matters

December 01, 2010
RegFlex restrictions, NCUA's merger partner registry, SAFE Act registration procedures, and compliance Q&A. READ MORE

NCUA Extends Comment Period on Corporate Rule Amendments

November 30, 2010

The National Credit Union Administration Board extended the comment period to Jan. 28, 2011, on the proposed corporate rule amendments issued at the agency's November 18 meeting.

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Fed Provides CARD Act Clarification

November 24, 2010
The Fed recently provided another proposal related to the CARD Act. But this one is actually helpful. READ MORE

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#BSA #AML Examination Manuel Update released

On December 2nd the Federal Financial Institutions Examination Council (FFIEC) released the much anticipated revised Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual. An update for this manual had not been released since 2010. The revisions clarify supervisory expectations and incorporate regulatory changes since the last update. Numerous revisions have been made throughout the manual. Sections […]

#FannieMae & #FreddieMac’s New Guidelines Aim to Make Mortgage Lending Easier

New guidelines from Fannie Mae and Freddie Mac took effect this Monday, with the intent of relaxing lending standards for borrowers.  The new guidelines provide clarification on when lenders can be penalized for making mistakes in mortgages they sell to Fannie and Freddie.  Prior to the update, lenders  cautious of making a mistake kept strict standards […]

Proposed Changes to Mortgage Servicing Rules

On November 20th the Consumer Financial Protection Bureau (“CFPB”) proposed to amend several mortgage servicing rules under both Regulation Z and Regulation X. The proposed rule is 492 pages long and to date has not been thoroughly vetted. However, let’s take a look at some of the highlights: Successors in Interest: A successor in interest […]
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