New mortgage lending rules from the Consumer Financial Protection Bureau could affect the willingness of credit unions to offer new mortgage loans, a new CUNA survey showed.
Technological advancements are changing the ways credit unions comply with fair lending laws.
WASHINGTON — CFPB director tells confab that 95% of current mortgage lending will qualify.
Agency joins other regulators in addressing concerns about liability under Equal Credit Opportunity Act.
Technological advancements are helping to simplify the way credit unions comply with fair lending laws.
Trade group says credit unions cite third-party vendor issues, fear that lending could slow or stop.
Online resources include guides, blogs, newsletters and articles about bureau's mortgage regs.
The NCUA and CFPB have placed more emphasis on Fair Lending laws and HMDA data collection in 2013, and credit unions can expect more in 2014.
NCUA, CFPB promise more rules and exams in the year ahead.
Credit unions that received a notice from the IRS informing them that their tax-exempt status had been revoked due to improper filing now have specific instructions on how to have it restored.