Q. Did Congress extend the Servicemembers Civil Relief Act’s foreclosure protection provisions?
A. Yes. President Obama signed into law S.3008, the “Foreclosure Relief and Extension for Servicemembers Act of 2014” in December 2014. The law amends the Honoring America’s Veterans and Caring for Camp Lejeune Families Act of 2012 to extend through calendar year 2015 the one-year period of protection against foreclosures for returning servicemembers after they separate from active duty. The original nine-month protection period will be reinstated on Jan. 1, 2016, unless Congress again extends the sunset date.
Q. Are credit unions permitted to keep copies of photo IDs in members’ loan files?
A. Regulation B (Equal Credit Opportunity) doesn’t explicitly restrict this practice. But the presence of such information in a loan field could create the perception the credit union improperly considers members’ personal characteristics when making loan decisions. So examiners recommend keeping a photocopied ID elsewhere. Note: Some state laws prohibit “reproducing,” “duplicating,” “photocopying,” or otherwise copying state-issued IDs.
Visit CUNA’s compliance blog— “CompBlog” —at cuna.org/compliance. Email email@example.com with questions or ideas for blog posts, and keep the conversation going with your peers on COBWEB, CUNA’s compliance listserv.