Compliance Watch

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.

We thought we’d provide some options to jumpstart the month of April and enhance your knowledge of InfoSight! It’s never too late!

On March 30, 2021, President Biden signed the PPP Extension Act of 2021 to extend the covered period for the Paycheck Protection Program (PPP) through June 30, 2021 (previously March 31).