Newsroom
June 02, 2014
Meyster in Examiner on mortgage database concerns
June 3, 2014 – NAFCU Regulatory Affairs Counsel Angela Meyster shared concerns with the Washington Examiner last week over revisions to the National Mortgage Database Project, a new comprehensive mortgage database run jointly by the Federal Housing Finance Agency and CFPB.
The Examiner article noted that "as many as 227 million Americans may be compelled to disclose intimate details of their families and financial lives – including their Social Security numbers – in a new national database being assembled by two federal agencies."
FHFA is working with CFPB to collect information for the database, which is intended to be the first comprehensive collection of detailed mortgage loan-level information. Meyster noted in the article and in a comment letter to FHFA that more transparency is needed about which agency divisions have access to the information being collected and how the data is used.
Meyster told the Examiner, "It seems they're just adding information and they're not really stating where it's going or what it's going to be used for. There's no straightaway answer. They say they are trying to assemble as much information that they can."
Meyster also raised concerns about how the database might violate credit unions members' privacy in the recent comment letter to FHFA.
NAFCU has a collection of resources about CFPB mortgage rules compliance on its website, including information about final rules, blog posts, articles and webcasts.
The Examiner article noted that "as many as 227 million Americans may be compelled to disclose intimate details of their families and financial lives – including their Social Security numbers – in a new national database being assembled by two federal agencies."
FHFA is working with CFPB to collect information for the database, which is intended to be the first comprehensive collection of detailed mortgage loan-level information. Meyster noted in the article and in a comment letter to FHFA that more transparency is needed about which agency divisions have access to the information being collected and how the data is used.
Meyster told the Examiner, "It seems they're just adding information and they're not really stating where it's going or what it's going to be used for. There's no straightaway answer. They say they are trying to assemble as much information that they can."
Meyster also raised concerns about how the database might violate credit unions members' privacy in the recent comment letter to FHFA.
NAFCU has a collection of resources about CFPB mortgage rules compliance on its website, including information about final rules, blog posts, articles and webcasts.
Share This
Related Resources
Add to Calendar 2024-05-03 14:00:00 2024-05-03 14:00:00 Plan Sponsor Attitudes Toward Retirement Plan Management and Fiduciary Outsourcing About the Webinar In January 2024, Pentegra conducted a survey of retirement plan sponsors and their perspectives on retirement plan management and fiduciary outsourcing. The survey measured how sponsors are using fiduciary outsourcing to help better manage their retirement plans. It also captured their perspectives on what outsourcing does to help them better position their plans and drive improved retirement plan outcomes. Key Takeaways: What is the full scope of your responsibilities as a plan sponsor? What is fiduciary outsourcing and how does it work? How does fiduciary outsourcing help reduce workloads and minimize risk? How can a credit union best position its plan to drive improved outcomes? Register Here Web NAFCU digital@nafcu.org America/New_York public
Plan Sponsor Attitudes Toward Retirement Plan Management and Fiduciary Outsourcing
preferred partner
Pentegra
Webinar
Ensuring Safety and Soundness with AI
Management, Consumer Lending, FinTech
preferred partner
Upstart
Blog Post
Turning Lemons into Lemonade: Capitalizing in a Post-Banking Crisis Era
Strategy
preferred partner
Allied Solutions
Blog Post
Add to Calendar 2024-05-02 14:00:00 2024-05-02 14:00:00 Mastering Resilience in Incident Response Plans About the Webinar An Incident Response (IR) plan is crucial for guiding credit unions through major incidents efficiently and effectively. However, many IR plans lack resilience, making them less adaptable to the evolving threat landscape. Join us for our webinar Mastering Resilience in Incident Response Plans where DefenseStorm cyber experts Elizabeth Houser and James Bruhl will delve into the importance of resiliency within cybersecurity IR plans. Don’t miss out on the opportunity to learn how to: Ensure IR plan accessibility so that all team members with assigned roles are prepared for effective incident response. Conduct efficient and regular reviews to ensure roles and responsibilities are current, tools are relevant, and compliance requirements are met. Implement and utilize tabletops to regularly test the effectiveness of your IR plan. Enhance preparedness, efficiency, and confidence among responders. View On-Demand Web NAFCU digital@nafcu.org America/New_York public
Mastering Resilience in Incident Response Plans
preferred partner
DefenseStorm
Webinar
Get daily updates.
Subscribe to NAFCU today.