Compliance Watch

The new CU PolicyPro system launched at the end of last month, and we have received some great feedback about the new features and enhanced functionality.

Question: Does a member give us prior express consent for non-marketing calls using a pre-recorded message or automated telephone dialer system under the Telephone Consumer Protection Act if they provide a cell phone number on an application for a loan or deposit account?

Tell five colleagues about InfoSight!

The CFPB has amended the mandatory compliance date of the new qualified mortgage rules from July 1, 2021, to Oct. 1, 2022.

The CFPB announced it has issued a Complaint Bulletin with a county-level demographic overview of consumer complaints.

The National Association of State Credit Union Supervisors (NASCUS) is pleased to offer a Cannabis/Hemp eSchool, featuring guest speaker Deirdra O’Gorman, founder and principal, DX Consulting.

The Consumer Financial Protection Bureau announced it has taken action against Nationwide Equities Corporation for sending deceptive loan advertisements to hundreds of thousands of older borrowers.

The IRS has announced it disbursed nearly 2 million payments in the seventh batch of Economic Impact Payments from the American Rescue Plan.

CFPB Acting Director Dave Uejio has issued a statement (below) in response to apparent unauthorized withdrawals made by a mortgage servicer, Nationstar Mortgage LLC, d/b/a Mr. Cooper.

Question: I have an employee that has caught COVID again. They already took leave last year, and I’m wondering if they can take leave again now. Can they? Answer: The American Rescue Plan Act of 2021 (ARPA) signed by President Biden became law on March 11 and did extend the voluntary leave provisions of the FFCRA from 2020.