Only members of the Compliance & Audit Council are eligible to register for these webinars. Council membership is free for employees and volunteers of
credit unions that belong to Cornerstone League.
As a result of the California Reinvestment Coalition’s 2019 successful lawsuit, the Consumer Financial Protection Bureau (CFPB) was forced to implement dormant portions of the 2010 Dodd-Frank Act requiring lenders make certain details public about their small lending activity. Compelled by this lawsuit and subsequent court order, the CFPB finally released rules on March 31, 2023.
These rules will require lenders (who meet different small business lending thresholds) to begin information collection on a staggered implementation over the next three years. Lenders with the greatest volume have a start date of October 1, 2024, and smaller volume lenders have start dates in 2025 and 2026.
June 29, 2023
10 - 11:30 a.m. CT
This webinar will:
Speaker: Frank Drake, counsel and attorney, Smith Debnam Law
Frank Drake has worked with credit unions, banking and financial institutions, consumer and commercial lenders, and student loan agencies to enforce contracts, minimize losses, and fight fraud, focusing on creditors’ rights, creditors’ bankruptcy, and commercial litigation. As federal regulatory compliance has become increasingly complex, he also assists lenders with difficult compliance issues.
With more than 30 years of legal experience, he has been admitted to practice law in Kentucky, North Carolina and West Virginia. In Kentucky he was active in drafting statutory law on judgments and garnishments, the design and use of that state’s judgment execution forms, and policies and procedures concerning foreign judgment registration and land records docketing.
Frank has taught classes on bankruptcy and commercial law for the Indiana Bankers Association at Butler University, the National Association of State-Chartered Credit Union Supervisors and various states’ credit union leagues. He also served as speaker for several student loan lending agencies, credit unions, and state and local bar associations. Additionally, he has held compliance seminars for his clients to update them on the ever-changing creditors laws. Frank is listed as a Best Lawyer in the 22nd Edition of The Best Lawyers in America©, an established benchmark of legal excellence.
For questions about this webinar or the council program, please contact Cristina Martinez, CU Relations Administrative Assistant, at 800-442-5762, ext. 6403.