With a change in administrations, we often see changes from a regulatory perspective. One area receiving attention from the current administration are targeted efforts at protecting “protected classes” and serving the underserved, for example the NCUA’s recent letter reminding credit unions about prohibited acts under the Equal Credit Opportunity Act (ECOA). This week, the Consumer […]
Last month, the NCUA issued a letter to credit unions 22-CU-04 (“Letter”) highlighting prohibited practices under the Equal Credit Opportunity Act (ECOA). The NCUA prepared this Letter as a general refresher of the nondiscrimination requirements found in the ECOA and to signal fair lending risk areas that credit unions should be aware of. The Letter […]
The NCUA has released an “Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus”. In the statement, the agencies are encouraging financial institutions to work with borrowers affected by COVID-19 and provide additional information regarding loan modifications. Agencies are encouraging financial institutions to offer prudent loan modification […]
NCUA This week, the NCUA has issued a Letter to Credit Unions “NCUA Actions related to COVID-19” (Letter No: 20-CU-02). This NCUA Letter also contains FAQs regarding COVID-19, NCUA and credit union operations. These FAQs cover impacts to, and flexibility for, annual meetings and elections; FCU monthly board meetings; restrictions on branch access and branch […]
Regardless of credit union leaders’ politics, one CU advisor says from a compliance perspective “there have not been a lot of negatives” since President Trump took office in early 2017 . . . Please click here to read more. [Subscription may be required]. This article, written by Michael Bartlett, was originally published in the […]
Let us read the hundreds of pages of final rule so you don’t have to. This presentation will provide an overview of the new HMDA rule and will discuss aspects of the rule that apply specifically to mortgage CUSOs and the credit unions that work with them. The New HMDA Rule – What you Need […]
This webinar focused on recent regulatory and legal trends, supervisory highlights, and updates on recent enforcement actions to help credit unions and CUSOs be prepared for the upcoming year. Regulatory Developments and CFPB Update from Messick & Lauer on Vimeo.
Data breaches and cybersecurity incidents happen every day, and credit unions need to be considering what to do when – not if – they are attacked. Please click here to read more. This article is from the October 19, 2016 issue of Credit Union Times Magazine. [Subscription may be required]. Jennifer Winston is an Associate […]
Cybersecurity and Data Breaches – How to Prepare, Protect, and Respond from Messick & Lauer on Vimeo.
The Military Lending Act (MLA) has traditionally applied to three (3) types of loan products: payday loans, vehicle title loans, and refund anticipation loans. Under the Final Rule, beginning October 3, 2016, the MLA will apply to products generally covered by the Truth in Lending Act and Regulation Z, including deposit advance loans, installment loans, […]
