Compliance Center: CFPB Issues Interim Final Rule on Operations in Rural Areas Under Regulation Z

The Consumer Financial Protection Bureau (CFPB) issued an Interim Final Rule that broadens the availability of certain provisions for small creditors that operate in rural or underserved areas. The new rule, which takes effect on March 31, 2016. Read today’s Compliance update to find out more.

New Federal Application Process Could Result in More “Rural” Designations for Mortgage Lenders

Some Northwest credit unions may find mortgage lending regulatory flexibility in a new process to receive “rural” designation.

Obama Signs Into Law Three Credit Union Regulatory Relief Measures

Modernizations to privacy notification requirements, opening of FHLB membership to privately insured credit unions, and changes to the CFPB’s treatment of “rural” areas were all signed into law as part of a comprehensive highway bill.

NCUA Unanimously Votes to Modernize FOM, Give More Americans Freedom to Choose

The proposed rule would ease several constraints that deny millions of Americans the freedom to choose not-for-profit credit unions. Association calls for immediate response from credit union leaders and employees.

Oregon Credit Union Advocates Brief Senator Merkley in Preparation for Regulatory Hearing

Answering the call to advocacy engagement, Oregon credit union advocates showed the Senator’s staff the impact regulatory burden has on their members’ ability to get the services they need.

Compliance Center: CFPB Proposes Amendment to Small Creditor, Rural or Underserved Areas Definitions

Learn more about the proposed CFPB amendment, learn how to verify a U.S. Treasury check, plus legal briefs.

World Council Makes Credit Union Services Available to 1.4 Million People in Rural Mexico

The World Council of Credit Unions has become a worldwide leader in financial inclusion, most recently transforming the lives of nearly 1.4 million people in rural Mexico. In this guest article, Matt Garcia reports on the impact the WOCCU, new technologies and Mexico’s credit unions are having in Mexico.

The CFPB Issues Clarification on 2013 HPML Escrow Rule

The CFPB has amended the 2013 Escrows for Higher Priced Mortgages Rule. Our compliance team breaks down the changes to the final rule as it impacts county designations and consumer protections.

CFPB TILA Escrow Rule guidance and Amendments

The CFPB has issued two new documents pertaining to the Truth in Lending Act.

NWCUA Regulatory Advocacy Update: Northwest Credit Unions Respond to NCUA’s Proposed Rules

Responding to rules proposed by the NCUA in September, NWCUA Board Chair Debie Keesee and BECU’s Parker Cann urged the NCUA to consider a higher asset threshold in defining small credit unions, while Pacific Crest’s Kathie Philp suggested an alternative definition for rural district.