2010 Department of Labor Ruling Shows Up in CFPB Final Rule

The official commentary in a new final rule from the CFPB includes hourly pay among the “permissible methods of compensation” for MLOs, meaning credit unions will have to examine their loan officers’ primary duties to determine whether they qualify for minimum wage and overtime.

NCUA Gives Notice of Changes to the Examination of Small Credit Unions

Under the NCUA’s new Small Credit Union Examination Program, small credit unions that are financially and operationally sound will have shorter examinations and more concise reports, a move intended to align resources more closely with risks.

Examining Mortgage Loan Officer Compensation

Two recent regulatory actions highlight the significance of reviewing how you compensate your Mortgage Loan Officers.

Examining Mortgage Loan Officer CompensationCopy

Two recent regulatory actions highlight the significance of reviewing how you compensate your Mortgage Loan Officers.