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Credit union representatives on Wednesday were updated on a wide range of regulatory compliance matters, such as Regulation B's fair lending requirements, Regulation Z basics and NCUA's lending regulations, during the third day of NAFCU's Regulatory Compliance School.

Top: NAFCU Special Counsel for Compliance and Research Pamela Yu updates School attendees on the latest NCUA lending regulations. Bottom: School attendees during yesterday's session on Regulation B/Fair Lending. (NAFCU photos)

John DeLoach, president of Williams, Gautier, Gwynn, DeLoach & Sorenson, P.A., opened yesterday's session with a discussion of the fair lending requirements of Regulation B. DeLoach the discussed the statute underlying Reg B (Equal Credit Opportunity Act) as well as the loan application process and records retention requirements. Following his presentation, CUNA Mutual Group's Jen Torback gave an in-depth presentation on the Fair Credit Reporting Act (FCRA) requirements and the responsibilities credit unions' have when reporting information to credit reporting agencies.

NAFCU Vice President of Regulatory Compliance Brandy Bruyere led most of yesterday's sessions, reviewing compliance issues such as Reg Z basics and Truth in Lending Act (TILA)/Real Estate Settlement Procedures Act (RESPA) Integrated Disclosures Rule (TRID). She also reviewed rules for lending to servicemembers under the Military Lending Act (MLA) and the Servicemembers Civil Relief Act (SCRA).

During the final presentation of the day, NAFCU Special Counsel for Compliance and Research Pamela Yu updated attendees on the latest NCUA lending regulations, including the usury ceiling and rules for loan participations.

Today, School attendees will review Home Mortgage Disclosure Act requirements, hear regulatory updates on NCUA and CFPB and discuss cybersecurity.

School runs through Friday at the Crystal Gateway Marriott. For updates, follow the#ComplianceSchoolhashtag on Twitter.