Topic: Lending
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League supports changes to small business lending rule
NEWS: Yesterday, The League submitted a comment letter to the CFPB, expressing our support for a proposal to revise the Bureau’s small business lending data collection rule. As explained in The League’s ii […]
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CFPB proposes Reg. B changes on “disparate impact” and “discouragement”
COMMENT CALL: The CFPB is proposing to amend Reg. B (which implements the federal Equal Credit Opportunity Act or ECOA), making two changes of importance to credit unions: Disparate impact discrimination The first […]
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IRS issues guidance for lenders on reporting car loan interest
NEWS: The IRS on Tuesday issued new guidance for lenders about reporting interest on certain auto loans while the agency determines how to implement a new federal law that lets taxpayers deduct the […]
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Is an adverse action notice required when an application is deemed to be fraudulent?
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 […]
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Simplicity CU wins in appeal, with help of League “friend of the court” brief
NEWS: The Wisconsin Court of Appeals granted Simplicity Credit Union a significant victory today, issuing an opinion that answered questions about post-repossession notices for lenders across the state. The League and […]
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NCUA removes disparate impact from fair lending materials
NEWS: On September 4, the National Credit Union Administration (NCUA) announced that it has removed all references to disparate impact liability from its Fair Lending Guide and other reference materials. In addition, […]
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Watch out for flood damaged and other “branded” car titles
TIP: In the wake of recent Milwaukee-area flooding, which damaged cars across Southeast Wisconsin, credit unions and their members should be cautious about buying cars with “branded” titles. Your members don’t […]
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CUs should consider action steps in response to “debanking” executive order
ANALYSIS: By now, you’ve heard about President Trump’s recent executive order (EO) on “debanking.” The EO is intended to prevent financial institutions from denying services to anyone based on political or religious beliefs, […]
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Can your CU charge prepayment penalties on loans?
ANALYSIS: Credit unions sometimes ask whether they can charge prepayment penalties on loans. Sometimes this may be allowed, at least for state-chartered credit unions, but it depends on the type of […]
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Interest on certain car loans deductible; CU must report to IRS
NEWS: You may have heard of the of the One Big Beautiful Bill, signed into law on July 4, 2025. The bill introduces a new deduction for interest paid on auto loans, […]