The NCUA and Consumer FinancialProtection Bureau have placed more emphasis on Fair Lending laws and Home Mortgage Disclosure Act data collection in 2013, and credit unions can expectadditional rules and exams in 2014.
Some are also anticipating the anti-discrimination reporting andcompliance could be expanded to apply to auto financing, businessloans and credit cards, which could change the way credit unionslend to members.
The CFPB announced in July it will begin writing a proposed rulethis month to amend HMDA to require significantly more informationfrom lenders, as mandated by the Dodd-Frank Act. In addition to alaundry list of loan terms information, lenders may also berequired to provide identifiers for loans, parcels and loanoriginators.
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