DCU Bulletin on Risk-Based Pricing Notices and Indirect Automobile Lending

WA DFI releases guidance on indirect lending for state-chartered credit unions; your question answered on Equal Opportunity Notice signage; plus this week’s legal briefs.

Take Advantage of NWCUA Agreement with OfficeMax for Easy Savings

As a Strategic Link business partner, OfficeMax offers substantial discounts to credit unions on a variety of products and services.

Risk Based Pricing and Adverse Action Notice Changes Finalized

The Fed and FTC on Wednesday issued final rules to implement the credit score disclosure requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act. If a credit score is used in setting material terms of credit or in taking adverse action, the statute requires creditors to disclose certain information to consumers.

Compliance Question of the Week

What is the difference between the FACT Act rules for risk based pricing notices published by the Federal Reserve board (12 CFR 222) and those by the Federal Trade Commission (16 CFR 640)?

Compliance Question of the Week

Do I have to provide a Risk-based Pricing Notice with the pre-approved credit card offers we send out?

The Credit CARD Act Turns One

An analysis from Member Access Pacific claims that while the act has increased transparency for consumers and eliminated unannounced rate hikes and unreasonable overdraft fees, the regulation has been a major burden for credit unions.

Credit Scores to be Required on Adverse Action and Risk Based Pricing Notices

The proposed rules from the Fed and the FTC will come into effective on July 21, 2011, as part of the credit score disclosure requirements in the Dodd-Frank Act.

Fed to Host Free Webcast on Risk-based Pricing Notices

The Federal Reserve System will conduct a webcast on risk-based pricing notices on February 16. This webinar is part of an ongoing series focused specifically on consumer compliance issues.