Compliance and Regulatory

2013 marks the beginning of a new chapter for our industry.    All parties in the process from the Banks and Credit Unions, sideways to the CPI insurance providers, down thru JPA and further down still to final disposition . . . . . we must all be informed and ready.

Industry Reads

American Banker

​Regulation and Reform

​American Banker is a daily trade newspaper and websource covering the financial services industry. Founded in 1836, American Banker is an independent newspaper and is unaffiliated with any portion of the banking industry.   It is a good source for daily information on important regulatory changes coming down the road, including news on the Consumer Finance Protection Bureau (CFPB).

In the Know.....

JPA is a licensed investigations company with the mission and motto of "Service and Results with Integrity".  We follow the letter of the law and all applicable federal laws and regulations as well, including, but not limited to the  GLBA, the FDCPA and the FCRA.

The below are "in the know" associations and organizations with good, concise breakdowns of the current process development topics.

JPA Mission

"Integrity has no need of rules."

Albert Camus

 

Regs, Laws and Recap

FDCPA

​CFPB - Annual Report / March 20, 2013

On July 21, 2011, the Consumer Financial

Protection Bureau was launched as the first

government agency solely dedicated to consumer financial protection.

This annual report

describes efforts taken in the past year to administer the Fair Debt Collection Practices Act

(“FDCPA”).

NAFCU

CFPB Finalizes the Privacy Notices Rules

October 22, 2014

 

Written by JiJi Bahhur, Director of Regulatory Compliance

 

On Monday, the CFPB announced that it finalized the privacy notices rule with the intent to promote more effective privacy disclosures from financial institutions to their customers/members.  So now the answer to the burning question that so many credit unions have been asking: Does the credit union still need to send annual privacy notices to its members? 

Alliance Investigative

​CFPB Procedural Rule for Supervision of Nonbanks that Pose Risks to Consumers

July 11, 2013

 

The Consumer Financial Protection Bureau (CFPB) has recently issued regulations that call for the modification of three critical forms required by the Fair Credit Reporting Act (FCRA), 15 U.S.C. § 1681 et seq., which are typically used in the background screening process. The regulations require that employers and affected consumer reporting agencies (CRAs) begin using these new forms by January 1, 2013.

CFPB Complaints - Breaking Down the Volume & Intake Portal

Wednesday, 15 October 2014

Written by Debra J. Ciskey

 

Several industry commentators and the CFPB itself have published analyses of CFPB complaint data by categories of complaints. I have found these analyses less than instructive, mostly because of the fact that when consumers access the complaint portal, their complaint input is driven by a series of drop down menus, leading some to merely pick something randomly if their issue does not fit one of the predefined categories. They might also pick a category which they may feel will garner attention for their complaint. My experience is that the selected category sometimes does not match the facts of the complaint.

 

JPA / Johnston, Parker & Associates Inc.

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