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From the Editors of CU Weekly

CFPB CREATES REG IMPLEMENTATION PAGE
updated 06/18/13 08:46 AM
Mortgage-Related Resources Provided
The Consumer Financial Protection Bureau (CFPB) has launched a new Regulatory Implementation Page, which consolidates the bureau's new 2013 mortgage rules and related implementation materials.

This effort will "support rule implementation and ensure the industry is ready to comply with the new borrower protections," the agency stated in a message to financial institutions.

Click here to view the CFPB's Regulatory Implementation Page.

The new page is "the central access point for our mortgage-related implementation materials," the agency said, including:

  • Mortgage rules at a glance
  • Small entity compliance guides
  • Videos
  • Quick reference charts
  • 2013 rural or underserved counties list
  • Other helpful materials

"Our goal with this page is to provide access to our mortgage-related implementation resources though a single web page that makes the rule content more accessible for a broad array of industry constituents, especially smaller businesses with limited legal and compliance staff," the bureau stated.

Although these implementation materials give an overview of the rules, they are not substitutes for the underlying rules.

 
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FINCEN ISSUES CDD FAQs
updated 07/25/16 10:52 AM
Plus, HMDA Resources Published
The Financial Crimes Enforcement Network (FinCEN) issued Frequently Asked Questions to help financial institutions, including credit unions, understand the scope of the new Customer Due Diligence (CDD) Requirements that were published in May. The CDD rules became effective on July 11, 2016 with compliance required by May 11, 2018.

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CFPB PAYDAY LOANS WEBINAR
updated 07/18/16 02:40 PM
And, CUNA/League Compliance Tools
The Consumer Financial Protection Bureau (CFPB) is hosting a webinar on the recent Notice of Proposed Rulemaking on Payday, Vehicle Title, and Certain High-Cost Installment Loans on July 26.

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