Compliance Watch

RecoveryPro provides the blueprint for your credit union’s emergency preparedness, ensuring effective incident response and recovery from an unexpected event.

We are excited to announce two new compliance videos in InfoSight.

The CFPB recently announced its issuance of a legal interpretation to ensure that companies that use and share credit reports and background reports have a permissible purpose under the Fair Credit Reporting Act.

The NCUA has joined other agencies in issuing a Joint Statement on the Risk-Based Approach to Assessing Customer Relationships and Conducting Customer Due Diligence.

The Federal Housing Administration has announced new flexibility for lenders when qualifying borrowers who experienced previous employment gaps or loss of income due to the COVID-19 pandemic.

Question: Can a person take out a HELOC for educational purposes? Answer: Yes, but the loan would not be classified as a private education loan requiring additional disclosures.

From our family to yours, we wish a happy, fun-filled, and safe Fourth of July! Please note that the League InfoSight and CU Solutions Group offices will be closed on Monday, July 4, in observance of the holiday.

We are happy to announce that a new topic to assist credit unions, Safe Deposit Boxes, has been added to the Accounts Channel in InfoSight.

The CFPB has issued a Final Rule amending Regulation V, which implements the Fair Credit Reporting Act, to address recent legislation that assists consumers who are victims of trafficking.

Scammers are using the names of well-known employers to post job openings that don’t exist. The purpose is to trick consumers into sending them personal information or money up front to get the job.