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Research & Compliance     

LATEST RESEARCH ITEMS OF INTEREST...

Compliance

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From the Editors of CU Weekly

Clarissa Martin, Research and Information Consultant for the California and Nevada Credit Union Leagues
'OPT OUT' NOTICES: SHORT VERSUS LONG
updated 01/13/14 03:34 PM
What’s Required of Your CU
What notice to members is required regarding their right to “opt out” of future pre-screen solicitations?

The overall notice consists of two parts: a short notice and a long notice. They should be in the same language as the offer of credit or insurance.

The Fair Credit Reporting Act (FCRA) allows creditors to obtain credit reports for transactions not initiated by the member called “pre-screen offers of credit.” When a credit union engages in pre-screening, it is required to provide a notice to the consumer with their right to opt out of pre-screened solicitations for credit or insurance.

Click here to continue reading the latest Asked and Answered column on Page 20 within the December/January edition of Credit Union Digest!

 
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INFOSIGHT RECENT UPDATES
updated 06/28/16 07:49 AM
Plus, CFPB Supervisory Highlights
InfoSight, a benefit of your League membership, provides instant access to compliance information, including easy-to-read compliance summaries, FAQs, checklists, and links to laws and regulations. Some recent updates are highlighted below:

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LATEST POLICYWORKS NEWSLETTER
updated 06/21/16 08:04 AM
CFPB Adjusts Annual Thresholds
The latest PolicyWorks Newsletter is now available. Please check your email, or click here to access the PolicyWorks newsletter using your email address and League members-only password.

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