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|Clarissa Martin, Research and Information Consultant for the California and Nevada Credit Union Leagues|
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.
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.