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CFPB Action on Deceptive Advertising

In February, the CFPB took action against three mortgage companies, Flagship Financial Group , American Preferred Lending , and All Financial Services , for allegedly violating Regulation N, Mortgage Acts and Practices Advertising.  This rule prohibits “any person to make...

Integrated Disclosures: Will You ComplyRight?

The next big ticket item on your compliance to-do is preparing for the CFPB’s Integrated Disclosures rule which becomes effective August 1st. The rule combines the disclosures required under Regulation Z and RESPA into...

Positive Remarks from Cordray and the CFPB

During a recent NCUA Town Hall Webinar, CFPB Director Richard Cordray made some positive comments regarding credit unions, stating that “credit unions were the true consumer protectors” long before the CFPB was even conceived. Those...

Will it be $100 million?

Keep a close eye on NCUA’s next Board meeting on Thursday February 19. Their agenda shows that they will consider raising the definition of a small credit union from less than $50 million in...

New Grads and #PrivateLoans

Interagency Guidance on Private Student Loans with Graduated Repayment Terms A competitive job market, traditionally low entry-level salaries, and higher student debt loads are just a few of the reasons students completing their higher...

Suspicious Activity – What’s Trending?

The Financial Crimes Enforcement Network (FinCEN) has just released its Suspicious Activity Report (SAR) stats quarterly update which can be found at the following link: http://www.fincen.gov/news_room/rp/sar_by_number.html I always find these stats interesting as you...