WASHINGTON (11/13/14)--October saw the Credit Union National Association's CompBlog cover topics from mortgage servicing guidance to fair lending. The monthly CompBlog Wrap-Up highlights some of the most important topics from CUNA's compliance staff.
CUNA's compliance experts last month studied the Consumer Financial Protection Bureau's (CFPB) fifth edition of its supervisory highlights report, which discusses major findings from the bureau's supervision of large financial institutions. This CFPB release included the discovery of "unfair or deceptive practices" in student loan servicing, as well as observations that some mortgage servicers lacked any policies and procedures relating to oversight of their service providers.
Other CFPB's supervisory highlights included:
CompBlog Wrap-Up also reviews a CFPB compliance bulletin to address high-volume mortgage servicing transfers, which provides examples of general transfer-related policies and procedures that examiners may consider when evaluating a credit policies are compliant.
The report also provided a link to CUNA's own examinations survey and encouraged credit unions to describe their most recent examination experiences.
Other items covered include: