Credit union compliance staff will spend most of next year onnew, proposed and final rules issued by the CFPB, CUNA Mutual Group's Lauren Calhoun and Bill Klewin toldtheir Online Discovery Conference audience late Tuesday.
“This has been the most challenging regulatory environment wehave ever had in my 30 years of experience with lending compliance.And it will continue to be one of the most challenging as we moveforward,” said Klewin, director of regulatory compliance.
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The complexity and depth of compliance changes will tax creditunion staff, create additional expense and could have a negativeimpact on member service, Klewin added.
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