NAFCU, bureau talk payday lending today
NAFCU today will discuss with the Bureau of Consumer Financial Protection (previously the CFPB) credit unions' payday lending concerns and the NCUA's efforts to expand its payday alternative loans (PALs) programs.
NAFCU Senior Counsel for Research and Policy Andrew Morris and Regulatory Affairs Counsel Kaley Schafer will participate in today's discussion.
As the NCUA looks to expand its payday alternative loans (PALs) programs, NAFCU has recommended the bureau provide a safe harbor to all credit unions' PALs products. NAFCU has told the bureau that by ensuring all future PALs program will fall under the bureau's alternative loan exemption, credit unions will by more likely to adopt PALs programs.
The association has also asked that the bureau consider using its exemption authority to grant relief to state-chartered credit unions whose short-term, small-dollar loans don't explicitly fall under the bureau's payday lending exemptions.
In its fall rulemaking agenda released last week, the bureau indicated that it will issue a proposed rule in early 2019 to address concerns with its 2017 payday lending rule. The rule is currently set to take effect August 2019, but is facing legal challenges.
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Add to Calendar 2019-06-04 14:00:00 2019-06-04 14:00:00 Fair Lending 101: An Overview of the Equal Credit Opportunity Act Treating applicants fairly and consistently in the credit process is vital to the well-being of your credit union. You should have a compliance plan in place to avoid discrimination on a protected class basis and otherwise meet the requirements for the granting and/or denial of credit for applicants. This webinar will provide you with a baseline understanding of the issues your institution will need to address when offering credit to both consumers and businesses. Key Takeaways: Review do’s and don’ts for your credit application process Discuss requirements for your application decisions and adverse action notices Walk through tips and guidelines for monitoring your underwriting process and record retention practices Purchase Now$295 Members | $395 Nonmembers (Additional $50 for CD) One registration gives your entire credit union access to the on-demand recording until June 4, 2020.Already registered? Go to the Online Training Center to view live. Who Should Attend? NAFCU Certified Compliance Officers (NCCOs) NAFCU Certified Risk Managers (NCRMs) Risk taff Compliance Staff Operations Management Staff Credit Union Attorneys Open to all credit unions, regardless of membership or charter type! Education Credits CPA credit information is below; recommended 1.5 CPE credits. NCCO credit information is below; recommended 1.5 CPE credits. NCRM credit information is below; recommended 1.5 CPE credits. CPA Certification Credit Information Reviewer: Josie Collins, Associate Director of Education, NAFCU Learning Objectives: Review do’s and don’ts for your credit application process. Discuss requirements for your application decisions and adverse action notices. Walk through tips and guidelines for monitoring your underwriting process and record retention practices Program Level: Basic Prerequisites Needed: None Advance Preparation Needed: None Delivery Method: Group Internet-Based Recommended CPE Credits: Yes; 1.5 credits Recommended Field of Study: Regulatory Ethics - Technical National Association of Federal Credit Unions (NAFCU) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. Learn more. About Our Webinars Our webinars are streamed live from NAFCU headquarters near Washington, D.C. Your audio/video feed of the presenters includes presentation slides and downloadable handouts. You can easily submit your questions to the presenters at any time during the live broadcast, with no dialing over the phone! The audio and video stream directly through your computer. Web NAFCU email@example.com America/New_York public
Credits: CPE, NCCO NCRM
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