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Compliance Center: Compliance is a Burden. We Can Help.

Your Association has a bevy of resources to help untangle the compliance burden credit unions face every day.

Compliance Center: NCUA Issues Opinion Letter on Loan Participations in Indirect Loans

NCUA letter focuses on federally insured credit unions as originating lenders in indirect lending arrangements; your question answered about Social Security payee accounts; plus this week’s legal briefs.

Compliance Question of the Week

Can we require a borrower to triple the amount of money that goes into their escrow account?

How Lender Liability Losses Turn Into Class Action Lawsuits

With lender liability lawsuits on the rise, credit unions could be at risk for class action lawsuits. Our Strategic Link business partner, the CUNA Mutual Group, details the three most common flaws leading to legal liability.

CFPB Issues Guidance on Indirect Lending and ECOA Compliance

A bulletin released last week by the CFPB provided indirect auto lenders within the CFPB’s jurisdiction with suggestions for limiting fair-lending risks under the ECOA for discriminatory dealer markups.

Rules Affecting Fair Housing and Flood Insurance Updated

Having identified the need to update rules governing fair housing and flood insurance, the NCUA adopted a final rule that will require credit unions to update both their Equal Housing Lender sign and the standard flood hazard determination form.

Oregon Legislative Update: Short Session Winds Down With Focus on Foreclosure Legislation

This week marks the final days of the 2012 legislative session in Oregon, where negotiations are continuing on mortgage lending and foreclosure bills. Two such bills have already passed the Senate during this short session.

Mortgage Originator Exam Steps Released by CFPB

The CFPB released its official Mortgage Origination Examination Procedures, which will serve as a “field guide for CFPB examiners” as they examine mortgage originators in all sectors of the financial services industry.

Compliance Question of the Week

Can a credit union require a borrower, who has a less than stellar credit history, to triple the amount of money that goes into the escrow account?

Oregon Legislative Week in Review

As legislative leaders anticipate ending the session on time, a bevy of bills that affect credit unions circulate including one concerning selling loans on the secondary market.