Articles by Michael McLain

CFPB Issues New HMDA Reporting Proposal

The agency seeks to expand information requirements and revise the reporting threshold.
The agency seeks to expand information requirements and revise the reporting threshold.
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Manage HELOC End-of-Draw Risks

Determine the nature and magnitude of your CU’s exposure.
Determine the nature and magnitude of your CU’s exposure.
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Agency Expands HMDA Requirements

Expect the CFPB's final rule in mid-2015.
CFPB expands HMDA to help spot discriminatory or other negative mortgage lending trends.
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Complying With Ability-to-Repay and QM Rule

NCUA examiners to take into account a CU’s good-faith effort to comply.
NCUA examiners to take into account a CU’s good-faith effort to comply.
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Integrated Mortgage Disclosures Improve Clarity

CFPB’s consolidated final rule streamlines TILA/RESPA requirements.
CFPB’s consolidated final rule streamlines TILA/RESPA requirements.
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CFPB’s Mortgage Servicing Requirements

Final rule covers periodic statement requirements, interest-rate adjustments, and more.
Final rule covers periodic statement requirements, interest-rate adjustments, and more.
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Mortgage Servicing: What’s in Store?

New rule includes an exemption for small servicers.
As required by the Dodd-Frank Act, the CFPB will require periodic statements for most closed-end mortgages—not just open-end loans.
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Get Ready for CFPB’s Ability-To-Repay Rule

The rule will have a significant impact on CUs’ mortgage programs.
This final rule expands the ATR requirements to include most closed-end mortgages—with a few exceptions.
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Agency Protects Stay-At-Home Spouses

Rule change may provide easier access to credit cards for millions of people.
Regulation Z amendment allows card issuers to consider a working spouse's income as that of the applicant's under certain conditions.
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New Rules for Open-End Lending

CUs can’t require any form of credit verification when members request advances, NCUA rules say.
Review policies and procedures to ensure conformance with NCUA’s updated guidance.
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