Posts Tagged ‘Keith Schostag’

CFPB takes action on CARES Act forbearance violation

CFPB takes action on CARES Act forbearance violation

As some of you may know, in early 2020, Congress passed the  Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Under the CARES Act, borrowers with federally backed mortgage loans could obtain a 180-day [...]

What’s going on: The fifth circuit and the CFPB

What’s going on: The fifth circuit and the CFPB

In the beginning of October we blogged about some spooky Consumer Financial Protection Bureau (CFPB) enforcement actions. Well, later that month the Fifth Circuit Court of Appeals (Fifth Circuit) issued a ruling that caused some [...]

A refresher on the statutory lien

A refresher on the statutory lien

Have you ever had a member who refused to make payments on a loan? You try and try to work with them and they just push you to your wit’s end? Well, suffer no [...]

Community charters and remote access to a community

Community charters and remote access to a community

As NAFCU noted last week, the House passed a bill that, among other things, would permit federal credit unions to add underserved areas to their field of membership. The bill also adds "banking deserts” to [...]

Credit unions and the automatic stay

Credit unions and the automatic stay

We’re all taught to stop, drop, and roll when it comes to catching fire, but we’re not always taught to stop and freeze all collection activity when it comes to a member who [...]

What’s with all the chapters?

What’s with all the chapters?

Have you had members declare bankruptcy recently? Is your first thought when you see Chapter 7 or Chapter 13: “why are my members doing book reports instead of paying back the credit union?” Well, this [...]

Special purpose credit programs

Special purpose credit programs

On Tuesday, February 22, 2022, NCUA issued Letter to Credit Unions, 22-CU-03 regarding special purpose credit programs. The letter informed credit unions of the release of an interagency statement on special purpose programs. The purpose [...]

Terminating or freezing open-end credit

Terminating or freezing open-end credit

Do you have 99 problems and an open-end credit account is one of them? We have previously blogged about limitation of services, but what happens when you want to terminate or freeze open-end credit accounts? [...]

NCUA’s 2022 supervisory priorities

NCUA’s 2022 supervisory priorities

I hope everyone’s new year is still going well, and I hope you are all on track to meet your new year’s resolutions. For their upcoming resolutions, on January 18, 2022, NCUA issued [...]

Preparing for the death of a member

Preparing for the death of a member

Generally, people die. It happens. It’s something that we all need to prepare for. Even credit unions need to prepare for the death of its members. If a member died today, would your staff [...]

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