numbers of payments, and finance charges without providing the required disclosures. And, the Bureau found weaknesses in compliance management systems that played a significant role in the identified violations. Take Away Action Step: Compensation plans keep for the CFPB and others regulators. Are your compensation plans in writing? Do you have an independent review to compare your written plans to actual compensation? Editions of Supervisory Highlights Below are all seven editions of the CFPB’s Supervisory Highlights. Each edition has at least one specifically focused article on fair lending issues. These guidelines should be shaping your fair lending program. Use this link and SEARCH for the highlights by date: Fall 2012, 1st Edition: Fair Lending Focus - Summer 2013, 2nd Edition: Fair Lending Focus - Winter 2013, 3rd Edition: Fair Lending Focus - Spring 2014, 4th Edition: Fair Lending Focus - Summer 2014, 5th Edition: Fair Lending Focus - Fall 2014, 6th Edition: Fair Lending Focus - Winter 2015, 7th Edition: Fair Lending - This is the table of contents for the 24 page report that was issued September 17, 2014 Guidance Documents from the CFPB. These bulletins are found at this link: NOTE: Only the bulletins that relate to Fair Lending, underwriting, servicing, and collections are included in this list; bulletins on other topics may be of interest. Bulletin on social security disability income verification – Bulletin on marketing of credit card promotional APR offers – Compliance bulletin and policy guidance regarding mortgage servicing transfers (as – published in the Federal Register at 79 Fed. Reg. 63295 (October 23, 2014)) Bulletin clarifying mortgage lending rules to assist surviving family members – FCRA requirement that furnishers conduct investigations of disputed information – Implementation guidance for certain mortgage servicing rules – Home Mortgage Disclosure Act (HMDA) and Regulation C Compliance Management; – – CFPB HMDA Resubmission Schedule and Guidelines; and HMDA Enforcement Bulletin on the FCRA’s requirement to investigate disputes and review relevant” – “all information provided by consumer reporting agencies about the dispute.
numbers of payments, and finance charges without providing the required disclosures. And, the Bureau found weaknesses in compliance management systems that played a significant role in the identified violations. Take Away Action Step: Compensation plans keep for the CFPB and others regulators. Are your compensation plans in writing? Do you have an independent review to compare your written plans to actual compensation? Editions of Supervisory Highlights Below are all seven editions of the CFPB’s Supervisory Highlights. Each edition has at least one specifically focused article on fair lending issues. These guidelines should be shaping your fair lending program. Use this link and SEARCH for the highlights by date: Fall 2012, 1st Edition: Fair Lending Focus - Summer 2013, 2nd Edition: Fair Lending Focus - Winter 2013, 3rd Edition: Fair Lending Focus - Spring 2014, 4th Edition: Fair Lending Focus - Summer 2014, 5th Edition: Fair Lending Focus - Fall 2014, 6th Edition: Fair Lending Focus - Winter 2015, 7th Edition: Fair Lending - This is the table of contents for the 24 page report that was issued September 17, 2014 Guidance Documents from the CFPB. These bulletins are found at this link: NOTE: Only the bulletins that relate to Fair Lending, underwriting, servicing, and collections are included in this list; bulletins on other topics may be of interest. – Bulletin on social security disability income verification – Bulletin on marketing of credit card promotional APR offers – Compliance bulletin and policy guidance regarding mortgage servicing transfers (as published in the Federal Register at 79 Fed. Reg. 63295 (October 23, 2014)) – Bulletin clarifying mortgage lending rules to assist surviving family members – FCRA requirement that furnishers conduct investigations of disputed information – Implementation guidance for certain mortgage servicing rules – Home Mortgage Disclosure Act (HMDA) and Regulation C – Compliance Management; CFPB HMDA Resubmission Schedule and Guidelines; and HMDA Enforcement – Bulletin on the FCRA’s requirement to investigate disputes and review “all relevant” information provided by consumer reporting agencies about the dispute.
10StepsFairLendExamHOuy071615.docx