Sept. 11, 2012 – NAFCU is looking for input from member credit unions over the next four weeks on three Consumer Financial Protection Bureau proposed rules targeting mortgages and consumer financial education.
The first two to come up will be the CFPB proposed rules on mortgage servicing and the combined Truth in Lending Act and Real Estate Settlement Procedures Act disclosures. NAFCU is seeking members’ input on these proposed regulations by Sept. 18 and 21, respectively. Comments are due to the CFPB Oct. 9 and Nov. 6.
NAFCU is asking members to also provide their input by Oct. 8 on the CFPB’s request for information on what constitutes effective financial education for consumers.
The CFPB’s Office of Financial Education is seeking input on effective financial education approaches – tools, topics and dissemination strategies – that will help improve consumers’ financial decision-making capabilities. The CFPB wants comments by Oct. 31.
All three proposed rules are explained in NAFCU’s online Regulatory Alerts (members only).