The CFPB released its Winter 2017 Supervisory Highlights recently, detailing issues currently on the bureau’s radar, as well as enforcement trends credit unions should be mindful of, most notably UDAAP in auto loan servicing, mortgage servicing and deposits.
The NCUA, along with other federal financial regulators, has posted a FAQ document on the CECL standard. CUNA has called on NCUA to provide credit unions with resources on CECL to aid in implementation.
'Periodically, I will read about something that happened at another credit union, and I’ll ask our supervisors or full staff, “What would you do in this situation if it happened here”?' says CEO Mark Baron of Fieldstone Credit Union.