CFPB Considers a Proposal to Overhaul Debt Collection Market

Also, a collection of legal news from the federal regulatory arena, and this week’s compliance question, answered.

Compliance Center: NCUA Discusses Top 10 Cyber Security Areas That Examiners Will Look At

The NCUA lays out the top 10 cyber security areas its examiners may focus on, plus legal briefs and the question of the week.

NCUA Issues Regulatory Alert Regarding Ability-To-Repay and Qualified Mortgage Rule

The NCUA has issued a new regulatory alert to remind credit unions of the compliance requirement for the CFPB’s Ability to Repay/Qualified Mortgage Rule. Also in today’s Anthem: Legal Briefs, and the Question of the Week: “What happens if the person who is renting a safe-deposit box passes away? Who has access?”

Compliance Question of the Week

What happens if the person who is renting a safe deposit box dies?

Debunking the Rumor Regarding DHS Access to Safe Deposit Boxes

Rumors that Department of Homeland Security agents are allowed access to safe deposit boxes without first presenting a warrant or a subpoena authorizing entrance have resurfaced online, but according to the NWCUA’s David Curtis, DHS “has issued no such memo, and we don’t expect that we will see anything even remotely similar to this in the future.”

Compliance Question of the Week

What happens if the person who is renting a safe deposit box dies? Who has access?

Compliance Question of the Week

We have a deceased member who had a safe deposit box. The executor has proper letters of testamentary, but we now have a beneficiary claiming that the property in the box belongs to them. What should we do?