Compliance Watch

Fannie Mae, in Lender Letter LL-2021-09, and Freddie Mac, in Guide Bulletin 2021-13, announced that any loans purchased by the GSEs after July 1, 2021, must conform to the requirements outlined in the CFPB’s recently finalized QM final rule.

The Northwest Credit Union Association is providing its member credit unions with a suite of resources documenting credit unions’ economic and community impact throughout the past year.

The CFPB has announced an action against SettleIt, Inc., a California-based online debt-settlement company, for taking advantage of consumers, failing to disclose its relationship to certain creditors, and steering consumers into high-cost loans offered by affiliated lenders.

Question: We have an account for a sole proprietor that has recently died. Who do the assets go to since it is a business?

With InfoSight and CU PolicyPro, your credit union has at its disposal a comprehensive suite of policies and regulatory compliance guidance written especially for credit unions by legal and financial experts.

Just because consumer financial protection flexibilities are a thing of the past does not mean your future should be filled with stress.

The Consumer Financial Protection Bureau on Monday announced it has proposed a set of rule changes intended to help prevent avoidable foreclosures as COVID-19 emergency federal foreclosure protections expire.

FinCEN has announced an Advance Notice of Proposed Rulemaking (ANPRM) to solicit public comment on a wide range of questions related to the implementation of the beneficial ownership information reporting provisions of the Corporate Transparency Act (CTA).

The Texas Credit Union Commission will review and consider for re-adoption, revision, or repeal Chapter 91, §§91.101, (Definitions); 91.103 (Public Notice of Department Decisions); 91.104 (Public Notice and Comment on Certain Applications); 91.105 (Acceptance of Other Application Forms)...

Question: Who takes over administration of a trust if a trustee dies, becomes incapacitated, or is unwilling to perform trust duties? Answer: A successor trustee.