June 26, 2014

NCUA: New consumer compliance resource available for CUs

June 27, 2014 – NCUA unveiled a new Web page Thursday to assist credit unions with their compliance needs regarding the new mortgage rules and other consumer lending rules mandated by the Dodd-Frank Act.

The new Web page, Consumer Compliance Regulatory Resource, also features content from CFPB, the Federal Financial Institutions Examination Council and other federal agencies on topics such as fair lending, credit cards and mortgage lending.

"We've experienced a number of important changes to the rules governing mortgages and other consumer lending products and services since the passage of the Dodd-Frank Act," NCUA Board Chairman Debbie Matz said in a statement. "Often it's been difficult for credit unions to find the critical regulatory information they need, but NCUA's new Consumer Compliance Regulatory Resource webpage consolidates these resources in a single, easily accessible location."

NAFCU also has a host of resources available on the mortgage rules – individual rules, scope-and-applicability charts, webcasts, NAFCU Compliance Blog posts and more – on its CFPB Mortgage Rules Compliance Web page.