Written by Victoria Daka, Regulatory Compliance Specialist
NCUA Hosting Webinar on New TILA-RESPA Disclosure Rules (with the CFPB)
Do you have lingering questions about the new TILA-RESPA Integrated Disclosures requirements scheduled to take effect August 1st? Do you want to get a head start on compliance? Well, you are in luck. The NCUA, with the CFPB, will host a free webinar, “Preparing for the New TILA-RESPA Integrated Disclosures,” on Wednesday, Feb. 11, 2015, starting at 2 p.m. This webinar will outline the significant changes to the disclosures and forms required and detail: 1) the new loan estimate and closing disclosure forms; 2) what types of mortgage transactions are covered by the new rules; and 3) the new timing requirements for the disclosures. You will find the registration for the webinar here. Credit unions may also submit questions in advance to WebinarQuestions@ncua.gov.
NCUA February 10th Town Hall Webinar Will Feature CFPB’s Cordray
For the upcoming NCUA Town Hall Webinar, set for Tuesday, February 10, 2015, starting at 3 p.m., NCUA’s Board Chairman Debbie Matz says that the webinar will feature CFPB’s Director Richard Cordray. This is a great opportunity for credit unions to discuss their issues and concerns directly with federal regulators. In this webinar, attendees can submit questions regarding the broad credit union industry and the work of the CFPB. You will find the registration for the webinar here. Credit unions may also submit questions in advance to WebinarQuestions@ncua.gov.
CFPB Compliance Bulletin
The CFPB recently issued a Compliance Bulletin reminding CFPB supervised institutions that, among other things, non-disclosure agreements institutions may have, with third parties, do not alter or limit the CFPB’s access to information under their supervisory authority. Pursuant to Dodd-Frank, the CFPB has the authority to request reports to conduct supervisory duties, from its supervised institutions, and supervised institutions may not use non-disclosure disagreements to transact out of this request. It should be noted that a failure to provide information required by the CFPB is a violation of federal law.
To view the Compliance Bulletin in its entirety, see here.