Every organization, including credit unions, looks for ways to improve. Complacency can become the silent enemy leading to a multitude of failures and perhaps ultimately, the failure of the organization....more
NCUA Extends Flexibility for Federal Credit Unions - NCUA has issued Letter to Federal Credit Unions 21-FCU-06. In its letter, NCUA notes the continued need for flexibility when conducting meetings during the COVID-19...more
The Office of the Comptroller of the Currency (OCC) issued a $250 million civil penalty against Wells Fargo Bank, NA for flaws in the bank’s home loan loss mitigation program. In addition, the OCC issued a cease-and-desist...more
9/14/2021
/ Cease and Desist Orders ,
Consent Order ,
Credit Unions ,
Enforcement Actions ,
Financial Institutions ,
Fines ,
Internal Controls ,
Loss Mitigation ,
Mortgage Lenders ,
Mortgage Servicers ,
OCC ,
Regulatory Oversight ,
Wells Fargo
The Consumer Finance Protection Bureau (“CFPB”) issued a long-awaited proposed rule that could significantly impact credit union operations and their third-party loan operating system vendors.
The proposed rule, pursuant...more