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NCUA Removes CUSO Registry Requirement From Call Reports

The move is part of Chair Metsger’s Continual Quality Improvement effort, and begins with the Sept. 30 reporting cycle.

Mortgage Broker Targeting U.S. Service Members Will Pay Record $7.5 Million to Settle Alleged Telemarketing Violations

The FTC cracked down on a mortgage broker by imposing a multi-million dollar fine. As today’s Compliance Update details, Mortgage Investors Corporation allegedly violated the “do not call” list and misrepresented terms of its loan products.

Disciplinary Action Functionality Added to NMLS Registry

The federal registration component of the Nationwide Mortgage Licensing System and Registry was updated last week to accommodate the collection of information about certain disciplinary, enforcement, and other actions against a mortgage loan originator.

Think You Are Safe With Regard to the SAFE Registry? Think Again.

The Nationwide Mortgage Licensing System (NMLS) and Registry, the registry for mortgage loan originators, has warned users that its renew status report contains errors.

Compliance Question of the Week

We’re working with a credit bureau to offer a credit card solicitation to select members. The results of our pre-screen criteria indicated that a certain number of members had selected “do not solicit.” We’re thinking this pertains to those who have contacted the credit bureau(s) to remove their names from pre-screened offers. Is this correct? And are there any state laws we should know about concerning “do not solicit”?

Forthcoming .xxx Extension Creating Online Dilemma for Credit Unions

Under a new domain name registry targeted to serve the adult entertainment industry, domain names with the extension .xxx will be available for purchase beginning in December 2011, opening the door to new issues related to brand and image protection.

Legal Briefs October 15, 2010

Your update of the regulatory landscape.