A resource for credit unions in CA & NV, providing credit union financial and economic trend analysis, brought to you by your Leagues in partnership with CUNA & Affiliates.
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TIPs Bulletin 13-55 looks at the Federal Financial Institution Examination Council’s (FFIEC) final guidance on the applicability of consumer protection and compliance laws, regulations, and policies on activities conducted via social media by banks, savings associations, and credit unions, as well as non-bank entities that are supervised by the Consumer Financial Protection Bureau (CFPB).
TIPs Bulletin 13-56 reviews a final rule issued jointly by federal financial regulators that creates exemptions from certain appraisal requirements for a subset of higher-priced mortgage loans. These exemptions are intended to save borrowers time and money while still ensuring the loans are financially sound.
TIPs Bulletin 13-57 examines the National Credit Union Administration’s (NCUA) final rule to amend its credit union service organization (CUSO) regulation that the agency says will increase transparency and address certain safety and soundness concerns.
TIPs Bulletin 13-58 analyzes the Housing and Urban Development agency’s (HUD) new qualified mortgage rule and definition, which supersede the CFPB’s rule with respect to loans insured, guaranteed, or administered by HUD.
TIPs Bulletin 13-59 delves into the Home Ownership and Equity Protection Act’s “fee trigger” being changed to $1,000, which will be adjusted annually thereafter.
Both reports give a key snapshot of the national economy, key performance data and ratios on California and Nevada credit unions, and national-versus-state comparisons.
For Your Board Packets and ALM Meetings
Credit unions are encouraged to access the valuable economic and credit union data the California and Nevada Credit Union Leagues offer to supplement board meeting packets and asset/liability management meetings.
The following materials are posted every month by Leagues Chief Economist Dwight Johnston: Monthly Commentary, Current Interest Rate Forecast, and Economic Data.
NEW SPANISH TILA-RESPA TOOLKIT
updated 07/28/15 09:18 AM
Plus, Unclaimed Property Seminar
The Consumer Financial Protection Bureau (CFPB) has released a Spanish edition of “Your Home Loan Toolkit,” the consumer guide that is designed to replace the current Settlement Cost booklet when the TILA-RESPA Integrated Disclosures rule goes into effect on Oct. 3.
POLICYWORKS LEAGUE COMPLIANCE SITE
updated 07/21/15 08:59 AM
League Member-Exclusive Content
The PolicyWorks League members’ only website provides member credit unions with ongoing compliance support as benefit of League membership. The website houses a library of compliance information and communications to assist credit unions with their compliance needs.