From NAFCU Today <[email protected]>
Subject CFPB advisory opinion reduces debt collection of ‘junk fees’
Date June 30, 2022 10:59 AM
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Also: New BSA Blast covers elder financial exploitation, virtual currency crime, more

June 30, 2022

CFPB issues advisory opinion that reduces debt collection of ‘junk fees’ ([link removed] )

The CFPB Wednesday issued an advisory opinion affirming that federal law often prohibits debt collectors from charging “pay-to-pay” or “convenience” fees, which are imposed on consumers who want to make a payment in a specific way, such as online or by phone.

New BSA Blast covers elder financial exploitation, virtual currency crime, more ([link removed] )

A new edition of NAFCU's BSA Blast is now available on the association's website, in its user-friendly digital format with direct links to each section. The second quarterly issue features articles reviewing elder financial exploitation and BSA guidance relating to virtual currencies.

New on the compliance blog: CU members’ right to inspect, NCUA’s spring 2022 rulemaking agenda ([link removed] )

As credit unions work to meet the needs of more than 131 million Americans, NAFCU's award-winning regulatory compliance team continues to keep credit unions informed with new posts on the Compliance Blog, published every Monday and Wednesday.

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