Compliance Blog

Posted by Anthony Demangone

The issues runneth over.  Here's a health dose of compliance "stuff" to get your week started.

Who is the Joker?  As Sarah pointed on our Friday, the CFPB unveiled its website and logo.  Did that logo ring a bell?   If it made you think of Batman, you weren't alone.  (The Hill.) My only question is this: if the CFPB is Batman, who is the Joker?  Or Riddler, for that matter? I hope that credit unions and community banks aren't seen as the villains.  You may want to check out its consumer complaint section.  It will route complaints about federal credit unions to NCUA's complaint page.   I bet the launch of this website will increase the number of complaints against federal credit unions.  The CFPB appears intent to get the word out.  If you listen to this narrated video, you might recognize the voice. The voice belongs to Ron Howard. 

Oh, and they even have a blog.

Troubled debt restructuring.  An archived version of NCUA's recent webcast on this topic is now available. 

Fed services. Speaking of webcasts, NAFCU is offering a free webcast (for both NAFCU members and nonmembers) that details the Federal Reserve's services that are available to credit unions. I know a lot of credit unions are rethinking who they do business with in the wake of the corporate credit union crisis.  This webcast should provide useful information for anyone considering the use of the Fed.

TILA and RESPA.  Elizabeth Warren has indicated that the CFPB is already working on a combined mortgage disclosure.   When it comes to this issue, Godspeed, CFPB.  Godspeed.