Major Mortgage Compliance Changes Are Coming Soon
(Posted on 5/18/2012 12:58:48 PM)
Major Mortgage Compliance Changes Are Coming Soon Blog posted by John Zasada The Consumer Financial Protection Bureau (CFPB) recently announced it is considering several substantial rule changes to mortgage lending. These are in addition to several other upcoming major mortgage More
NCUA Issues Regulatory Alert on Loan Originator Compensation
(Posted on 4/25/2012 3:43:48 PM)
| | NCUA Relaxes Loan Originator Compensation Restrictions Blog posted by John Zasada The National Credit Union Administration (NCUA) recently released a regulatory alert on pension plans in relation to the Regulation Z loan originator compensation restrictions. Credit unions have been uncertain if |
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CFPB Weighs in on Right of Rescission Case
(Posted on 4/5/2012 10:11:31 AM)
| | CFPB Weighs in on Right of Rescission Case Blog posted by John Zasada Perhaps indicating how very active the Consumer Financial Protection Bureau (CFPB) will be, it has filed an amicus brief in the U.S. Court of Appeals on a |
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New Equal Housing Lender Poster For Federal Credit Unions
(Posted on 3/28/2012 3:49:36 PM)
| | New Equal Housing Lender Poster For Federal Credit Unions Blog posted by John ZasadaThe National Credit Union Administration (NCUA) recently updated the Equal Housing Lender poster to include a new mailing address. The rules, updated in the Federal Register Rules and |
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CFPB Launches Inquiry Into Overdraft Protection Programs
(Posted on 3/9/2012 11:14:59 AM)
| | CFPB Launches Inquiry Into Overdraft Protection Programs Blog posted by John ZasadaThe Consumer Financial Protection Bureau (CFPB) has focused almost exclusively on lending, and specifically on real estate lending. There are several upcoming final rules targeting real estate lending disclosures |
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BSA Program Requirements Could Now Apply to Your CUSO
(Posted on 2/16/2012 1:42:12 PM)
| | BSA Program Requirements Could Now Apply to Your CUSO Blog posted by John ZasadaThe Financial Crimes Enforcement Network (FinCEN) recently issued a final rule that applies the Bank Secrecy Act (BSA) to non bank residential mortgage lenders. Since 2002, loan |
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HMDA-LAR Submissions Due March 1
(Posted on 2/14/2012 12:40:38 PM)
| | HMDA LAR Submissions Due March 1 Blog posted by John Zasada Here’s a friendly reminder Credit unions that are required to report Home Mortgage Disclosure Act Loan Application Register (HMDA LAR) information, your HMDA LAR must be filed prior to |
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Reactivating Mortgage Loan Originator Registrations
(Posted on 1/19/2012 2:12:47 PM)
| | Reactivating Mortgage Loan Originator Registrations Blog posted by John ZasadaDid any credit union’s mortgage loan originators forget to renew their registrations between November 1 and December 31, 2011? If so, the Nationwide Mortgage Licensing System & Registry (NMLS) released instructions |
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Fourteen Regulations Transferred to CFPB
(Posted on 12/21/2011 2:13:50 PM)
| | Fourteen Regulations Transferred to CFPB Blog posted by John ZasadaThe Dodd Frank Wall Street Reform and Consumer Protection Act (Dodd Frank Act) transferred rulemaking authority for several consumer financial protection laws from various federal agencies, including the National Credit Union |
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Cease and Desist Order Highlights Importance of BSA Compliance
(Posted on 12/6/2011 9:30:33 AM)
| | Cease and Desist Order Highlights Importance of BSA Compliance Blog posted by John Zasada A credit union in Pennsylvania received a cease and desist order on November 1, 2011 this is yet another example of a credit union’s deficient Bank Secrecy |
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CFPB Releases Drafts of Combined Closing Disclosure
(Posted on 12/1/2011 1:07:55 PM)
| | h1>CFPB Releases Drafts of Combined Closing Disclosure Blog posted by John Zasada The Consumer Financial Protection Bureau (CFPB) has released two alternative drafts of a combined Truth in Lending (TIL) and Real Estate Settlement Procedures Act (RESPA) disclosure given to members |
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Consumer Financial Protection Bureau (CFPB) Releases Examination Manual
(Posted on 10/27/2011 10:27:30 AM)
| | Musings Blog: John Zasada blogs about the newly released Supervision and Examination Manual Version 1.0. This is a significant step for the CFPB, because the document sets forth the guidelines it will follow in examining financial institutions. |
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FinCEN Updates Section 314(a) Fact Sheet
(Posted on 10/14/2011 11:36:25 AM)
| | Musings Blog: Section 314(a) of the USA PATRIOT Act aims to team up law enforcement and financial institutions to halt and prevent terrorist acts and money laundering. FinCEN released an update of the Section 314(a) Fact Sheet with statistics on the requests for financial information occurring. |
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FAQ 3: Excluding Credit Score Information From Adverse Action Notices
(Posted on 9/16/2011 11:37:16 AM)
| | Musings Blog: Here's another Q&A on risk-based pricing and adverse action notices. John Zasada explains how to properly include credit score information. |
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FAQ 2: Using Credit Score Information on Risk-Based Pricing Notices
(Posted on 9/14/2011 8:41:47 AM)
| | Musings Blog: John Zasada addresses another question in this series. If you use risk-based pricing but do not use a credit score to establish the terms of the loan, are you required to include credit score information on our risk-based pricing notice? |
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FAQ 1: Credit Score Exception Notices
(Posted on 9/9/2011 12:47:44 PM)
| | Musings Blog: John Zasada dives into the first in a series of FAQs. Learn if a credit score exception notice is sufficient or if you need to provide credit information via adverse action notice too. |
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The Risky Business of Risk-Based Pricing Notices
(Posted on 9/7/2011 1:15:49 PM)
| | Musings Blog: Over his next few posts, John Zasada will be tackling some FAQs about changes to risk-based pricing and adverse action notices. |
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Three Steps for Complying With New Credit Quality Disclosures
(Posted on 8/22/2011 3:34:54 PM)
| | Musings Blog: Greg Schwartz shares insight on FASB’s Accounting Standards Update (ASU No. 2010-2), Disclosures About the Credit Quality of Financing Receivables and the Allowance for Loan Losses. New disclosures will be required for credit union financial statements beginning with December 31, 2011, year-ends. Read the post for three steps to comply. |
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Credit Union Blog Launched—Practical Tips for Volunteers and Senior Management
(Posted on 8/15/2011 8:12:45 AM)
| | Musings Blog: Welcome to LarsonAllen’s credit union (CU) blog. We plan to offer credit union CEOs, CFOs, CTOs, compliance officers, boards, and audit and supervisory committees practical tips and our perspective on operating, growing, and managing your business. |
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