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)…

The CFPB and Compliance Costs: Genuine Concern or Lip Service?

By Matthew D. Urban, Attorney On March 20, 2013, the Consumer Financial Protection Bureau (CFPB) announced in a blog post¹ its intent to study the costs that financial institutions, including credit unions,  incur in order to comply with consumer finance regulations.  Specifically they indicated a desire to know the extent and nature of compliance costs…