The U.S. Government Accountability Office (GAO) released a report this week showing that, for the most part, privately insured credit unions are doing an excellent job keeping up with regulations. But, according to the GAO report, there appears to be some confusion about Regulation I disclosures – those that relate to disclosure information, format, and advertising.

The GAO’s “Report to Congressional Committees” found that credit unions were largely in compliance with the CFPB’s requirement for disclosures at each station or window where deposits are normally received. However, according to the report, “seven of the 17 credit unions we visited that had drive-through windows did not have disclosures at the window.”

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Michael Ogden

Editor-in-Chief for CU Times. To connect, email at [email protected].

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