A close look at fair lending at Reg Seminar
The 2013 Regulatory Compliance Seminar sold out, but live streaming was also offered for the first time.
Oct. 25, 2013 – Fair lending examinations by NCUA and what it will take for credit unions to be ready for CFPB’s mortgage rules come January were the key topics of Thursday’s round of sessions at NAFCU’s Regulatory Compliance Seminar in Nashville.
Credit union attorney Andy Keeney, of Kaufman & Canoles, provided Thursday’s seminar attendees with a look at elements of NCUA’s fair lending examination program announced in March. This program evaluates credit unions for their compliance the Fair Housing Act, Equal Credit Opportunity Act and the Home Mortgage Disclosure Act. Keeney also discussed CFPB’s focus on indirect lending and the disparate impact doctrine.
Some of Thursday’s sessions also addressed, among other topics:
- CFPB mortgage servicing rules, as presented by Mitchell Klein, compliance risk officer for Citadel FCU and a NAFCU Certified Compliance Officer;
- guidance from CFPB on the ability-to-repay/qualified mortgage rule, with Keeney;
- what credit unions need to do to ensure they meet CFPB's mortgage rule compliance deadlines in January, with Klein, Keeney and attorneys Robert Rutkowski and Steve Van Beek.
The seminar wraps up today with a look at the legal aspects of social media, latest developments at NCUA and developing and implementing a risk management program.
This year’s seminar sold out, but live streaming was also offered for the first time to those wishing to participate from remote locations. Next year, the seminar takes place Oct. 14-17 in Baltimore.
Learn about next year's Regulatory Compliance Seminar