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During the third day of NAFCU's Regulatory Compliance School, Vice President of Regulatory Compliance Brandy Bruyere, her team and top credit union experts discussed a wide range of regulatory compliance matters, including Regulation B's fair lending requirements, Regulation Z basics and NCUA lending regulations.

Lori Sommerfield, senior counsel at Buckley Sandler LLP, opened Wednesday's sessions with a discussion of the fair lending requirements of Regulation B. Sommerfield discussed the statute underlying Reg B (the Equal Credit Opportunity Act), the loan application process and records retention requirements. Styskal, Weise & Melchione, LLP's Timothy Oppelt gave an in-depth presentation on Fair Credit Reporting Act (FCRA) requirements and credit unions' responsibilities when reporting information to credit reporting agencies.

Credit union leaders during a morning session yesterday at NAFCU's Regulatory Compliance School. (Photo by J. Kat Photography)

Bruyere led two sessions yesterday, reviewing compliance issues such as Reg Z basics and the TILA/RESPA integrated disclosures rule (TRID). NAFCU Regulatory Compliance Counsel Andre Cotton reviewed rules for lending to servicemembers under the Military Lending Act (MLA) and the Servicemembers Civil Relief Act (SCRA).

NAFCU Special Counsel for Compliance and Research Pamela Yu spoke toattendees about NCUA lending regulations, including the requirements for payday alternative loans (PALs) and rules for loan participations, during Wednesday's final presentation.

Today, School attendees will hear regulatory updates on the NCUA and CFPB, discuss cybersecurity and more.

NAFCU's Regulatory Compliance School runs through tomorrow. For updates, follow the#ComplianceSchoolhashtag on Twitter.