Since July 1, the 3 nationwide consumer reporting companies began enforcing stricter standards on the public records they collect. developing “enhanced” public record data standards for collection and updating of civil judgments and tax liens.
The CFPB released several new resources relating to HMDA implementation, including updating the preview of its “HMDA Platform” system, an online-only system designed to guide filers through the reporting process and through which they can file.
A question was recently posed to CUNA’s compliance staff about the Right to Financial Privacy Act. Specifically, what type of documentation is required from a federal government agency when it requests financial information on a member?
A federal credit union can issue and sell securities, provided it meets a 3-pronged test detailed in NCUA’s regulations on items considered incidental powers. NCUA issued this stance in a legal opinion letter.
The Federal Reserve’s first Consumer Compliance Outlook newsletter of 2017 was released recently, and emphasized the need for financial institutions to take a role in combating elder financial abuse by enhancing their policies, procedures and training.