Compliance

CFPB TRID changes, NCUA comment request on information collection activities and a focus on regulatory relief for CUs during the legislative recess are all on the agenda for the industry this week.

Four years after the first states legalized marijuana, most bankers still want nothing to do with it.

The Consumer Financial Protection Bureau's proposal Friday updating its mortgage disclosure rule did not give lenders what they wanted: an ability to correct errors after a loan has closed and a release from liability for technical violations. But the 293-page proposal did provide revisions that will help in compliance and the closing of more loans.

The National Credit Union Administration wielded a broad axe in July, issuing eight notices of prohibition to individuals who have been convicted of financial crimes.

MoneyGram International Inc., the world’s second-largest money transfer provider, fell the most in five months after posting profit that missed analysts’ estimates and lowering its revenue forecast for the year.

The CFPB updated its "Know Before You Owe" mortgage disclosure rule to provide more clarity to lenders. It has proposed additional tolerance provisions, clarified a partial exemption for housing finance agencies, extended the rule's coverage to all cooperative units, and provided more clarity about privacy and the sharing of information.

The CFPB updated its "Know Before You Owe" mortgage disclosure rule to provide more clarity to lenders. It has proposed additional tolerance provisions, clarified a partial exemption for housing finance agencies, extended the rule's coverage to all cooperative units, and provided more clarity about privacy and the sharing of information.

The Consumer Financial Protection Bureau's debt collection plan is likely to put pressure on financial institutions and first-party creditors to provide better documentation on consumer debts that get transferred to debt buyers and collectors.

Regulators' recent warnings on emerging risks with commercial real estate indicate banks have reverted to CRE practices that got them in hot water once before.

The Consumer Financial Protection Bureau's debt collection plan is likely to put pressure on banks and first-party creditors to provide better documentation on consumer debts that get transferred to debt buyers and collectors. While the proposal does not cover banks and first-party creditors, some experts said banks will be on the hook for providing better information.