Compliance Watch

The Consumer Financial Protection Bureau released an interpretive rule to assist the mortgage industry in determining whether to treat June 19, 2021, as a federal holiday or a business day for purposes of compliance with certain time-sensitive borrower protections.

The CFPB has posted an updated version of its Mortgage Servicing Small Entity Compliance Guide. The Aug. 4, 2021, version of the guide incorporates references to the most recent Mortgage Servicing Rules.

Cornerstone League is pleased to present the 2021 Texas Legislative Summary, which highlights the major bills of the 87th Texas Legislature that will affect your credit union.

Question: Can a payable-on-death beneficiary decline to accept the designation? If so, where do the funds go? Answer: Yes. A payable-on-death beneficiary does not have to accept the designation and may refuse based on their own personal situation.

The regulatory environment continues to change rapidly, and your policies need to keep up with it.

The secretaries of the USDA, HUD, VA, and Treasury and the acting director of the FHFA released a joint statement on agency actions to prevent evictions.

On Wednesday, Aug. 18, 2021, at 2-3:30 p.m. ET, learn about online resources and assistance available to homeowners and renters during the coronavirus emergency.

The IRS has issued a press release urging entities with Employer Identification Numbers (EINs) to update their applications if there has been a change in the responsible party or contact information.

The CFPB announced on recently that two final rules issued under the Fair Debt Collection Practices Act will take effect as planned on Nov. 30, 2021.

The IRS has updated its frequently asked questions (FAQs) regarding the paid sick and family leave tax credits under the American Rescue Plan Act of 2021.