Stop by Daily for What's Hot Right Now in Compliance & Risk for Credit Unions & Banks
Two payday lenders have agreed to pay the FTC $4.4 million and to waive $68 million in loan fees to settle claims that they illegally charged inflated and undisclosed fees to consumers. In one case, the lender advertised that a $300 loan would only cost $290 to repay, when in fact borrowers paid $975. The payday lenders were also cited for Reg. Z violations for failing to accurately disclose the APR and other loan terms. [1/7/16]
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