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Business Lending Council Resource Library

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  • PolicyAid quarterly updates announced

    NEWS:  PolicyAid has announced the quarterly additions & updates to its sample compliance policies. 

    All League members enjoy free access to PolicyAid as part of your dues-supported services (a $799 annual value.) PolicyAid (a service of PolicyWorks, LLC) offers a comprehensive online compliance policy library, giving credit unions access to more than 100 sample policies that you can download and adapt to fit your operations. The compliance experts at PolicyWorks amend the policies to keep current with changing regulations, Letters to Credit Unions, AIRES questionnaires, and best practices. 

    Oct 15, 2019
  • CFPB extends temporary HMDA coverage threshold for another two years

    NEWS:  The CFPB today amended its Home Mortgage Disclosure Act (HMDA) rules, making changes that the agency said would “provide relief to small institutions.” The amendments extend for another two years the temporary threshold for collecting and reporting data about open-end lines of credit.

    Oct 10, 2019
  • If the credit union is open on Columbus Day, is that a business day for right of rescission purposes?

    Q&A:  Here's a question that a Wisconsin credit union recently asked The League's Legal Affairs team, along with our answer. Do you have a compliance question? Contact The League's Compliance Hotline at (800) 242-0833 or email.

    Q.      If the credit union closes a mortgage refinance loan on Friday October 11, and it is open on Columbus Day October 14, do we count Columbus Day as one of the 3 business days for right of rescission?

    Oct 9, 2019