ATLANTIC CITY, NJ — The Consumer Financial Protection Bureau is churning out regulations. The question, according to Rob Rutkowski who’s a partner in the law firm of Weinberg & Reis Co. LPA, is whether credit unions are ready for compliance.
CUNA Mutual Group said credit unions can expect assistance with new changes involving multi-featured open-end lending and blending lending.
If passed, the current 2013 defense authorization bill would increase lending compliance burdens, according to a NAFCU report Thursday.
Regulatory fallout from the housing crash, the Credit Card Act of 2009 and the new Consumer Financial Protection Bureau are making the daily duties of a loan officer look increasingly more like those of a compliance officer. Below are the most burdensome, difficult and confusing current regulations and proposed rules...
Here's a list of some of the most burdensome, difficult and confusing regulations and proposed rules facing credit union lending officers today.