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New on the Compliance Blog: CFPB annual report on military complaints, Hyundai fined $19 million
As credit unions work to meet the needs of more than 131 million Americans, NAFCU's award-winning regulatory compliance team continues to keep credit unions informed with new posts on the Compliance Blog, published every Monday and Wednesday.
Here's a roundup of what's new this week:
CFPB Writes Report Highlighting Military Complaints: Regulatory Compliance Counsel Justin White examines the CFPB’s Office of Servicemember Affairs annual report identifying trends among consumer complaints submitted by servicemembers, veterans, and their families. The report notably highlights credit and consumer reporting issues as well as medical billing and collection issues as some of the most common complaints.
The Gift of Enforcement - Hyundai Hit With $19M Fine for Credit Reporting Failures: Regulatory Compliance Counsel Rebecca Tetreau covers the CFPB’s consent order and $19 million fine against Hyundai Capital America for “repeatedly providing inaccurate information to nationwide credit reporting companies and failing to take proper measures to address inaccurate information once it was identified,” between 2016 and 2020.
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