InfoSight eNewsletter
Featured Post
Beware of scammers pretending to be from the CFPB
This week we confirmed that scammers are using CFPB employee’s names and imagery to try and steal your money. We’ve heard from people, specifically older adults, who were defrauded thousands of dollars from scammers pretending to be with the CFPB. If someone contacts you and says you’ve won a class-action lawsuit in a foreign country or can receive other large, unexpected amounts of money but must use the CFPB’s assistance to claim the funds, they are lying.
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Question of the Week
Question: Can a power of attorney be signed by a person other than the principal delegating the power? Answer: The answer is yes. A third party can sign in each of the three Cornerstone states. -
2022 League InfoSight User Survey
One of League InfoSight’s initiatives this year is to combine all our products (InfoSight, CU PolicyPro and RecoveryPro) into one platform so all users have one single-sign-on system to access all your most valued resources! -
Advisory Opinion on Coverage of Fair Lending Laws
The CFPB published an advisory opinion to affirm that the Equal Credit Opportunity Act (ECOA) bars lenders from discriminating against customers after they have received a loan, not just during the application process. -
FTC Shuts Down 'The Credit Game' As Scam
As announced in a recent FTC press release, a federal court has temporarily halted a bogus credit repair scheme known as The Credit Game for promoting a series of lies and deceptions. -
Nacha Guide on Voice Payments Contract Issues
Nacha has announced its Payments Innovation Alliance has created a legal and risk mitigation resource guide for financial institutions seeking to implement voice payments capabilities and applications (skills) through smart devices, such as the Amazon Echo and Google Nest. -
Preventing and Reporting Scams of Older Adults
The CFPB has a blog article with tips for older adults and their families and friends on how to prevent and report scams which target older adults. -
Learn How Credit Unions Can Protect Older Americans Against Financial Exploitation
On Thursday, May 19 beginning at 1p.m. Eastern, the National Credit Union Administration will host a webinar for credit unions looking to protect their older members. -
Question of the Week
Question: How does EFT protection work for business accounts? Do we have to grant them the same protections as Regulation E? Answer: No. Regulation E is a consumer regulation, with a consumer defined as “a natural person” under 12 CFR 1005.2(e). -
InfoSight Content Updates
New RISK Alerts are now available from CUNA Mutual Group and are found on the Resources area (Credentials required for access). -
CFPB Issues Spanish Model and Sample Forms
The CFPB has released Spanish translations for certain model and sample forms included in the Prepaid Rule in Regulation E and for certain adverse action model and sample notices included in Regulation B.
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