Financial institutions should develop programs based on the new guidelines, Continuity says.
Toll-free phone or website access to consumers to make state or federal complaints about appraisals.
Texas bank, CEI, attorneys general lay out claims against new federal regulations, regulator.
Would require lenders to offer a mortgage without discount points or origination points or fees, unless borrower is unlikely to qualify.
New rule meant to reassure institutions.
Former credit union lobbyist Marvin Umholtz said the industry shouldn’t fear a new banker super PAC, saying the Friends of Traditional Banking PAC, will function “more like a scalpel than a battle axe.”
Former lobbyist Marvin Umholtz said credit unions shouldn’t fear the new Friends of Traditional Banking PAC, saying it will function “more like a scalpel than a battle axe.”
Regulatory burdens stemming from the Bank Secrecy Act, Dodd-Frank Act and the Department of Housing and Urban Development, among others, add another layer of responsibility to credit unions’ day-to-day operations. Complaints of rising compliance-related costs are common, but just how much is compliance costing CUs, and how are they paying...
Even small credit unions spend thousands a month on meeting the regulatory burden. Find out more in this sneak peek at an article from the next print edition of Credit Union Times.
The $22 billion State Employees’ Credit Union said it looks forward to “showcasing all we’ve been doing for consumers” now that it is the first state-chartered CU to formally come under regulatory purview of the new Consumer Financial Protection Bureau.