The Point: Jan. 2, 2014


CFPB issues final rule on integrated mortgage disclosures

The CFPB’s much-anticipated integrated Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA) disclosure final rule has been published in the Federal Register.

The rule amends the TILA and RESPA to establish new disclosure requirements and forms in Regulation Z for most closed-end consumer credit transactions secured by real property. In addition to combining the existing disclosure requirements and implementing new requirements imposed by the Dodd-Frank Act, the final rule provides extensive guidance regarding compliance with those requirements.

Dues reduction program available for CUs in financial need

The Credit Union Association of New York is once again offering a membership dues reduction program to New York credit unions. The program is designed to make Association membership more affordable for credit unions anticipating financial hardship in the year ahead.

To request a dues reduction, credit union CEOs/managers or board chairs should submit a written request outlining the reasons they are seeking hardship consideration. Requests may be emailed to Tracy Conner, VP of member relations, at or mailed to her attention at the Credit Union Association of New York, P.O. Box 15118, Albany, NY 12212.

The deadline for submitting requests is Feb. 14. All submissions will be reviewed together after the deadline and kept strictly confidential.

Credit unions requesting a reduction may wait to remit dues payment until receiving a response from the Association. Adjusted dues invoices will be issued to the credit unions that are granted reductions.

Treasury Department to offer CDFI webinars

The U.S. Treasury Department is planning a series of technical assistance webinars for Community Development Financial Institutions (CDFI). The webinars, which are part of the CDFI Fund’s Strengthening Small and Emerging CDFIs series, will run from January until June.

The webinars will provide small and emerging CDFIs with tips and tools for evaluating business practices and pursuing growth.

Upcoming webinars include:

  • Jan. 8: The Four Stages of CDFI Growth;
  • Jan 21: Capitalization: Raising Debt and Equity for CDFIs; and
  • Feb. 5: Leading Organizational Change.

All webinars are scheduled to begin at 1 p.m. Additional webinars and dates will be posted on the Strengthening Small and Emerging CDFIs web page in the coming weeks.

Lending Insights to host portfolio analytics webcast

Credit unionists can learn how to improve overall loan portfolio performance while meeting regulatory requirements during a free webcast by Lending Insights from CU Direct. The webcast, scheduled for Jan. 7 and Feb. 4 at 1 p.m., will explain:

  • portfolio risk regulations and examiner requirements;
  • best practices for using loan portfolio analytics to manage risk and identify loan opportunities; and
  • how to use Lending Insights’ Lending Performance Management System (LPMS) to meet regulators’ loan portfolio analytics requirements.

To register or learn more, visit the Lending Insights website.

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