Still Time to Register for Webinars on Cybersecurity and TILA/RESPA Disclosures
There is still time to register for upcoming webinars that may be of interest. The Federal Reserve is hosting a May 26 webinar that will answer FAQs regarding the CFPB’s TILA/RESPA Integrated Disclosure rule. Click here to register.
CUNA TILA/RESPA Support
In preparation for the upcoming TILA/RESPA Integrated Disclosure final rules effective August 1, 2015, CUNA has provided an excellent link on its website to compliance checklists, podcasts and other valuable resources:
LOAN ESTIMATE CHECKLIST
CLOSING DISCLOSURE CHECKLIST
ESCROW CLOSING CHECKLIST
Other available resources include:
CUNA’s CompNOTE: The Loan Estimate & The Home Buying Information Booklet.
CUNA’s CompNOTE: The Closing Disclosure
CUNA’s CompNOTE: The Escrow Closing Notice
CUNA’s 10 minute Loan Estimate podcast covering when the disclosure is required
CUNA’s 10 minute pre-Loan Estimate activities podcast
CUNA’s 20 minute podcast on how to determine a good faith estimate for the integrated Loan Estimate
CUNA’s 20 minute podcast: The Loan Estimate – The Content of the Disclosure
CUNA’s 20 minute podcast on when a credit union may issue a revised integrated Loan Estimate
Nominations for NCUA consulting assistance open
The NCUA has announced that credit unions that qualify for consulting assistance from its Office of Small Credit Union Initiatives have until May 31 to submit nominations. The application is available online. Credit unions may nominate themselves or be nominated by an NCUA examiner. The consulting services, available at no charge, are provided for a six-month period. Credit unions chosen to participate in the program will be announced in June. The next round of consulting begins July 1, 2015.
NCUA Translates Webpages into Spanish
ALEXANDRIA, Va. (May 12, 2015) ndash; As part of its effort to provide critical financial information to audiences with limited English proficiency, the National Credit Union Administration announced today that it has translated portions of its public website into Spanish.
“These efforts support NCUA’s goal of promoting access to financial services and providing our stakeholders with easily accessible information,” NCUA Board Chairman Debbie Matz said. “This new Spanish-content will communicate the benefits of credit union membership and NCUA’s mission of ensuring the system’s safety and soundness to a new and growing audience, as well as to many in the unbanked or underbanked communities.”
The Spanish-language version of NCUA.gov, available here, includes translations of the agency’s home page, landing pages and press releases. In all, audiences can access more than 500 pages of translated content.
Regulatory and supervisory content that is available online in Adobe PDFs, such as Letters to Credit Unions, NCUA’s Rules and Regulations, Examiners Guide and the National Supervision Policy Manual, have not been translated into Spanish at this time.
NCUA’s translated portions of its website in response to a growing Spanish-speaking population. In 2012, 38.3 million U.S. residents age 5 and older spoke Spanish at home, according to the U.S. Census Bureau. In all, 13 percent of U.S. residents age 5 and older speak Spanish at home.
As NCUA adds new content to the public website, the agency will translate the material into Spanish and post it within three business days. For more information, visit espanol.ncua.gov.
CFPB Issues Bulletin to Help Mortgage Lenders Avoid Illegal Discrimination
The CFPB issued a compliance bulletin to help mortgage lenders avoid illegal discrimination against applicants whose income includes vouchers from the Section 8 Housing Choice Voucher (HCV) Homeownership Program. Discriminating against consumers because some or all of their income is from a public assistance program violates the Equal Credit Opportunity Act and Regulation B.