Links in “Agencies”
- NCUA Opens Purse Strings to Low-Income CUs
Grants given to 126 low-income CUs totaling $871,597 to "expand services and provide the capital that is the lifeblood of local economies." Average grant: $7,000. [8/29]
- Comptroller Curry Weighs In on QRM Risk Retention
The revised definitions of a Qualified Residential Mortgage and Qualified Mortgage Plus will undoubtedly provide for interesting commentary. Do you agree with the revisions? [8/29]
- New Toolkit for Potential Student Debt Relief for Qualified Individuals
CFPB wants the message out that if you're having trouble with student debt and you're a teacher, government worker or employed in qualified employment that there is help. New toolkit offers guidance. [8/28]
- Agencies Seek Comment on QRM
Out for comment is a key definition of âqualified residential mortgageâ (QRM) and what exempt securitizations for QRMs from risk retention will be allowed. Impact could be significant on covered lending products. [8/28]
- Examples of Mortgage Servicing Issues Uncovered in CFPB’s Reviews
Failure to disclose transfers of servicing, late payments of property taxes, missing denial notices are among the deficiencies noted; what the CFPB expects in terms of remediation is also reviewed. [8/28]
- Payroll Cards Growing in Popularity and Regulatory Scrutiny
Banking industry stands to make $120 million in fee revenues this year; but regulatory scrutiny is rising amidst reports that some wage earners have incurred fees tallying as much as $50 a month. [8/27]
- CFPB Adds Muscle
New additions to leadership team reflect heavy government, legal and academic backgrounds. Banking background? Not so much. [8/27]
- The Fair Lending “Miracle”
What two scenes from the 2004 movie can teach us about the state of fair lending today. [8/26]
- ABCs of CFPB’s CMS
Although the CFPB states that it doesn't require any specific structure for an effective compliance management system, it puts forth what it sees as the four independent control components of an effective CMS. [8/26]
- And Then There Were Three
NCUA Board is now back to three board members; Rick Metsger, who took the oath of office on Friday, was quoted as saying that he views the most important aspect of his new position as protecting the Share Insurance Fund. [8/26]
