Open Lending Blog | Regulatory Compliance

Jun 16
1 min

PenFed ‘Can’t Say Enough About the Service’ from Open Lending

The $25 billion PenFed Credit Union , based in McLean, Va., has had a long-standing relationship with Open Lending and our Lenders Protection™...

Feb 19
2 min

NCUA 2020 Supervisory Priorities

The NCUA has released its 2020 Supervisory priorities in a letter to Federally Insured Credit Unions. The letter lists the agency’s top...

Nov 11
2 min

CFPB Creating Task Force on Consumer Finance – Could Be a Good Thing

A few weeks ago, the Consumer Financial Protection Bureau announced it was developing a task force to study the existing legal and regulatory hurdles...

Oct 30
1 min

CECL Policy and Guidance Raise Reserve Concerns

Last week, the federal banking regulators issued guidance and policy statements regarding implementation of FASB’s Current Expected Credit Losses for...

Oct 9
2 min

TILA: Regulatory Compliance as Credit Union Member Service

The Truth in Lending Act, codified in Reg Z, came about in 1968 to protect consumers from unfair credit practices. The regulation has been amended...

Apr 2
3 min

Fair Lending Primer for Credit Unions

Even though credit unions overall attempt to run their businesses in the best interests of all their members, the federal regulators that oversee...