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The following was updated:
The CFPB stated in its Notice in the Federal Register that credit unions providing these publications may, at their option, immediately begin using the revised HELOC Brochure, CHARM Booklet, or Settlement Cost Booklet to comply with the requirements in Regulations X and Z.
The bureau stated it understands that some credit unions may wish to use their existing stock of publications. Therefore, those who provide these publications may use earlier versions of these publications until existing supplies are exhausted. When reprinting these publications, the most recent version should be used.
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Don't forget: You're only a click away from the most comprehensive resource, InfoSight Weekly Newsletter, when it comes to staying ahead of the compliance curve at your credit union.
InfoSight is an online weekly compliance resource containing information on a wide range of topics, including the numerous laws and regulations that affect a credit union's business affairs. A link to InfoSight can be found on every Tuesday's edition of CU Weekly in the bottom right-hand corner.
Each topic contains easy-to-read compliance summaries, checklists, direct links to laws and regulations, and links to additional important resources. Credit unions are encouraged to visit the site often, as the number of topics and information posted will be updated and expanded over time. Visit InfoSight today!
UNCLAIMED PROPERTY HANDBOOK
updated 04/26/16 07:15 AM
Plus, Title XIV Mortgage Updates
California State Controller's Office has issued an updated Unclaimed Property Holder Handbook with changes to reflect:
CREDIT CARD SUBMISSION GUIDANCE
updated 04/18/16 12:02 PM
Plus, Compliance Advice Webinar
The Consumer Financial Protection Bureau (CFPB) has issued guidance for credit card issuers with simplified instructions for making the required submissions under Regulation Z. Last year, the CFPB temporarily suspended this rule until April 30, 2016. Issuers have to submit credit card agreements to the Bureau by May 2, 2016, and quarterly thereafter.