Washington Legislative Update: Budget Passed, but Special Session Continues

The two-year budget includes a tuition cut for college students and ends a handful of tax exemptions.

Compliance Question of the Week

Do we stop collecting payments on loans for a service member who is now on active duty?

Compliance Question of the Week

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

Compliance Question of the Week

Do mobile banking transfers require a receipt?

The CFPB Outlines Possible Mortgage Rules

New mortgage rules would simplify mortgage points and fees and bring greater transparency to the mortgage loan origination market by January 2013.

Oregon Legislative Week in Review

This Oregon Legislative Update outlines the eight mortgage/foreclosure bills currently of interest to credit unions during the Oregon Legislature’s first-ever “short session.”

Compliance Question of the Week

We have a member who is both hearing and sight impaired. They are telling us that under the ADA laws, financial institutions are required to have TTY lines. Is this correct?

NCUA Chairman Launches Regulatory Modernization Initiative

NCUA Board Chairman Debbie Matz launched a “Regulatory Modernization Initiative” to keep credit unions safe and sound while relieving regulatory burdens. The initiative will introduce new rules, revise existing rules and establish several regulatory relief efforts.

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?