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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Comments are due on Oct. 22, 2014.
The CFPB says the proposed rule would improve information reported about the residential mortgage market, according to a statement.
It would also “shed more light on consumers’ access to mortgage credit by updating the reporting requirements of the Home Mortgage Disclosure Act (HMDA) regulations. The Bureau also aims to simplify the reporting process for financial institutions.”
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.
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.