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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FTC Proposes Protection Against Telemarketing for Small Business
The Federal Trade Commission recently announced a proposal to extend protections against telemarketing tricks and traps to small businesses and strengthen safeguards against other pernicious telemarketing tactics plaguing consumers. -
Ukraine-Related Sanctions Regs Amended, Renamed and Reissued
OFAC has announced it has amended and reissued the Ukraine-Related Sanctions Regulations and renamed them “Ukraine-/Russia-Related Sanctions Regulations.” -
FSB Report on Approaches to Climate-Change Risks
The Financial Stability Board recently announced its publication of an interim report, “Supervisory and Regulatory Approaches to Climate-related Risks,” that aims to assist supervisory and regulatory authorities in developing their approaches to monitor, manage, and mitigate cross-sectoral and systemwide risks arising from climate change and to promote consistent approaches across sectors and jurisdictions. -
FHFA Mandates Use of Supplemental Information Form
The Federal Housing Finance Agency has announced that Fannie Mae and Freddie Mac (the Enterprises) will require lenders to use the Supplemental Consumer Information Form (SCIF) as part of the application process for loans that will be sold to the Enterprises. -
Question of the Week
Question: We are looking to open accounts online and wonder if we are required to provide account opening disclosures immediately or if we can send them after the account opens for review later. What is the correct timing? Answer: To cite 12 CFR 707.4: -
From Template to Preparedness
Your members look to you to protect their assets in case an unforeseen disaster occurs, so it’s critical for credit unions to have a blueprint for emergency preparedness. -
CFPB Report on Medical Billing Complaints
The CFPB recently issued a report that examines the financial consequences of medical billing and collections endured by individuals and families across the country. -
U.S. Targets Facilitators of Russian Sanctions Evasion
The Department of Treasury announced that OFAC has designated entities and individuals involved in attempts to evade sanctions imposed by the United States and its international partners on Russia. -
New HUD Guidance on Subsidized Multifamily Housing
The Department of Housing and Urban Development released new guidance to reinforce requirements that HUD-subsidized multifamily housing’s marketing and application processes be designed to be inclusive of persons of all races and national origins. -
Comments Due on PCA Relief Extension, Digital Currencies
Comments on several items of relevance to credit unions are due in the next several weeks.
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