The CFPB warns financial institutions about misreporting account information to credit reporting companies; your question answered about FCRA requirements for credit reporting; plus this week’s legal briefs.
The policy statement does not create any new compliance obligations, and the Administration will collect voluntary self-assessments from credit unions in order to understand diversity trends in the industry.
State leagues, CUNA, AACUL, CUNA Mutual Group and Washington State Credit Unions join forces to put America’s credit unions front and center at state lawmakers’ conference.
Compliance Center: Federal Agencies Issue Final Policy Statement for Assessing Diversity Policies and Practices
Get the details on the interagency diversity policy; your question answered about denying a Reg E claim; plus this week’s legal briefs.
Changes make it easier for low-income credit unions to obtain secondary capital and give investors greater clarity.
Merchants and financial institutions aren’t the only ones with data breach headaches. A recent U.S. Government Accountability Office study reviewed eight federal agencies and found that while they “generally” developed data security breach policies and procedures, they inconsistently implemented them.
If a credit union isn’t connected, it’s disconnected, as members have access to all online, mobile and social media platforms. But Strategic Link Partner JMFA has some important reminders about standards and policies that credit unions must put in place to protect their security systems, reputations, employees, and members.
What policies must be approved by the board?
Recent media reports about companies asking staff for their Facebook passwords highlight a larger challenge facing HR professionals: in the world of HR management, nothing changes faster than the social media landscape—and the laws and regulations surrounding it.
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.
The FFIEC is seeking comment on a proposed guidance applying consumer protection and compliance laws, regulations, and policies to activities conducted via social media by financial institutions and nonbank entities supervised by the CFPB and state regulators.
In a recent CUNA Pressing CU Compliance Issues webinar, Jeff Anderson from PolicyWorks LLC said that credit unions have been reporting that the new requirement for IRR policies has garnered significant attention in recent NCUA exams.
Through a partnership with CU PolicyPro, expanded around-the-clock compliance resources will roll out Thursday at no additional cost for NWCUA member credit unions. CU PolicyPro offers more than 200 model policies that can be customized to fit each credit union’s needs.
Forums Provide a Balanced Perspective on Policies and Procedures of Consumer-Friendly Overdraft Programs
Strategic Link strategic partner John M. Floyd & Associates how its work with the CFPB on overdraft practices has revealed a pattern regarding the use of overdraft protection and how account holders are affected by different practices.
As banks settle multimillion-dollar lawsuits for illegal overdraft policies, credit unions are now being brought into the fray and may soon face the same type of attention and penalties as their for-profit cousins.
The NCUA has adopted a new final rule that clarifies reporting, requires new policies and requires data collection on modified loans, allowing credit unions to modify loans without having to characterize them as delinquent.
Credit unions with greater than $50 million in assets and those with assets between $10 and $50 million that meet a handful of other criteria have until Sept. 30 to adopt a written IRR policy and implementation program.
Which credit unions does the NCUA require to have interest rate risk policies?