On an annual basis, the Consumer Financial Protection Bureau is required to adjust certain threshold amounts within Regulation Z, based on inflation, which implements the Truth in Lending Act, based on inflation. Below are the revised thresholds which were published in theFederal Register on Aug. 15 and become effective on Jan. 1, 2015. Click here to read the full story.
The CFPB has issued its long-awaited proposal to revise the Home Mortgage Disclosure Act. The proposal is a daunting 572 pages. With numerous changes being proposed, credit unions are encouraged to read the request for comment and provide feedback to the CFPB on the potential impact to the credit union. The MCUL’s request for comment will be available on the MCUL’s website for credit unions to review. Click here to read the full story.