Stop by Daily for What's Hot Right Now in Compliance & Risk for Credit Unions & Banks
The CFPB proposed a rule clarifying that many paycheck advance products, often marketed as “earned wage” products, fall under consumer loan regulations governed by the Truth in Lending Act. This rule aims to ensure lenders disclose costs and fees clearly to workers, following a report that found these products carry high APRs and are used frequently, with workers taking an average of 27 loans per year. [7/18/24]
Complaints: Why you shouldn’t shun them, but invite them! In this era of exploding complaint volume, this certificated webinar (see instructions in video for how to get your free certificate of completion) takes a look at the risks, evolution, and need for a management strategy to effectively deal with complaints. Before that, we cover what’s hot in compliance, as seen by the editors of Risk InboX. This week’s hot items: 1) HUD cancels Obama era Fair Housing rule; 2) “HMDA” for boards and management; and 3) CFPB has added a new dimension to its complaint database. Click here to watch now.
What makes the patented AffirmX Risk Intel Platform different than anything else out there? Take the next 3 minutes to see what this revolutionary tool can do for your financial institution. Watch Video