Links in “Banks”

Lenders cannot base a borrower's DTI ratio on teaser rates and must show that the borrower can repay the loan over the long term, not just during an introductory period where the rate is lower. Other clarifications also provided in CFPB's second round of mortgage rule guidance. [8/16]

Conference attendees struggle to get clarity on rules from CFPB officials, most of whom are from the enforcement side, rather than the policy-making side. [8/16]

The FBI has sent alerts warning that credit unions may experience a cyber attack  on 9/11. Credit unions are encouraged to take reasonable steps to secure their cyber infrastructure and to report suspicious activity to their local FBI Cyber Task Force or to call the FBI’s Cyber Watch Center. [8/15]

Though the New York Times is in a different industry, banking industry IT professionals may find either leading theory for the reason for the outage a worthwhile cautionary tale. [8/15]

A look at the CFPB's recently published clarification of the "small servicers" exemption. [8/15]

Cloud adoption is rising; security needs to keep pace. [8/15]

With attacks on payday lenders, Bitcoin, consultants, and debt collectors, NY's Lawsky is leading many initiatives and in some cases "shaming less aggressive regulators." [8/15]

Industry expert Robin Remines from Ongoing Operations identifies four key steps you should take to ensure that you are ready to sail through your next IT examination. [8/14]

American Medical Association has quietly approved a resolution to reclassify obesity as a “disease state," meaning nearly one-third of Americans now have a medical condition that requires treatment; experts are concerned that this could lead to a significant increase in workers compensation claims and higher costs for employers. [8/14]

Online checking company, closing in September, announces customers’ FDIC-insured account balances are safe, but they will lose their perk balances accrued from debit card purchases. [8/14]