Posted by Anthony Demangone
If you have received a qualified written request from a member per RESPA, you probably groaned a bit. The requests can be intimidating. On the surface, QWRs appear to require a ton of work, and you often wonder if you are being set up for a lawsuit or some other type of shenanigans.
Along those lines, I found this article from the American Banker Association's Banker Journal that details steps financial institutions can take to more efficiently handle such requests. The article provides a general overview of QWRs, and it provides citations and legal explanations that you should find to be useful. A very good read, indeed.
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NCUA has extended the expiration date of the Temporary Corporate Credit Union Share Guarantee Program, also known by its easy to remember acronym, TCCUSGP. Really? That acronym may be the worst one. Ever.
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NAFCU members: Did you know that we have a master .pdf document that includes all of our newsletters since 1999? This document is a treasure trove of articles, guidance and "questions and answers." Note that the information is included as it was originally printed, so some information will be outdated. That being said, I use the document on a weekly basis.
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