Are We Underwriting Correctly?

by:  Shari Storm (authors note – the views expressed here are NOT the views of my employer, Verity Credit Union) In September, I attended the Washington Credit Union League conference. One of my favorite sessions was a panel facilitated by Frank Diekmann. The panelists were James Kwak, co-author of the book 13 Bankers: The Wall…

Passing Assessments on to Members.

 By:  Rob A client of mine asked me today whether or not the credit union could create a fee to its membership that would pick up approximately one third of the cost of the assessments NCUA has given them.  While this blog is not about giving legal advice it is certainly about sharing information…

Words, words, words.

By:  Rob When I was younger and more foolish, I felt that words flowed endlessly like a river or at least sprung from a limitless well.  If you ever feel that way, I would encourage you to take up blogging.  Content generation on a reliable, ongoing basis will be one of the hardest things you…

When the Right of Rescission is more than 3 days.

 By Robert Rutkowski Most people involved in the lending process understand that in certain instances a consumer has a 3-day right of rescission under Regulation Z.  However, in certain cases, this rescission period can be far, far longer if something has gone wrong in the lending process.  By far longer, I mean years and years…

The Dodd-Frank Wall Street Reform and Consumer Protection Act: Compliance Implications for Credit Unions

Compliance—it can quite possibly make or break credit unions.  In recent months, Congress and Statehouses have teamed up to roll out a myriad of new legislation creating new and burdensome requirements applicable to many financial institutions including credit unions.  In particular, the recently passed Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd Frank Act)…

Current Issues in Credit Unions #54.

This month, Faith, Hal, Katherine, Anthony & Rob bring you lots of compliance goodness!  Here are the topics: –FDIC guidance on ODP programs. –Credit Union Class Actions & Other Litigation –CFPB update. –Risk Based Pricing Notice confusion. –Trigger terms and marketing compliance The CIiCU hosts are: Brian Witt Hal Scoggins Farleigh Wada Witt, Attorneys at…