The Impact of the Consumer Financial Protection Bureau 120 Day Rule on Foreclosures in Pennsylvania

By Matthew D. Urban, Attorney In January 2013 the Consumer Financial Protection Bureau (“CFPB”) issued wide reaching rules governing the mortgage industry which became effective as of January 10, 2014.  Since publication of the rules, confusion on their application and effect have reigned supreme.  While most credit unions are exempt from certain portions of these…

The Basics of the Member Business Loan

By Robert T. Lieber Jr.,  Attorney At the end of 2012, credit unions had over $41 billion in member business loans outstanding, but as more credit unions either add member business lending programs or aim to grow their existing programs, the risks associated with member business loans continue to loom. A member business loan (MBL)…