Topic: Indirect Lending
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NCUA: Letter to Credit Unions No. 10-CU-15 – Indirect Lending and Appropriate Due Diligence (August 2010).
This letter details the risk management practices that are appropriate and necessary to soundly manage an indirect lending program. Regardless of the type of indirect lending relationship established, no credit […]
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CFPB: 12 CFR 1026
Truth in Lending (Reg. Z). Appendices, model forms, and commentary are included in the link to the last section of the regulation: Subpart A – General. Subpart B – Open-end […]
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B063 FTC Rule on Preservation of Consumers’ Claims and Defenses
The Federal Trade Commission (FTC) Rule on Preservation of Consumers’ Claims and Defenses applies to state and federal credit unions. This rule, which is frequently referred to as “The Holder-in-Due-Course […]
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Wis. Stats: 425 WCA – Consumer Transactions – Remedies and Penalties as regarding credit sales.
425.209 Restrictions on deficiency judgments.
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0159 BSA: Customer Identification Program and Customer Due Diligence
This release describes BSA requirements for credit unions to verify the identities of those who open new accounts, exercise customer due diligence and apply enhanced due diligence to higher-risk members/customers. […]
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Wis. Stats: 422 WCA – Consumer Credit Transactions as regarding credit sales.
422.417 Restrictions on security interests. (1)With respect to a consumer credit sale a seller may take a security interest only in…
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Wis. Admin. Code: DFI-CU 61
Credit Union Purchase or Acquisition of Interests in Credit Sales Transactions 61.01 Limitations. 61.02 Interest rates. 61.03 Sharing of interest. 61.04 Dealer financial statements.