- The European Court of Justice declared the principles of the "Safe Harbor Agreement" to be invalid. The decision has reversed the legal basis for exporting personal data from the EU to the US.
- Credit union aligns internal audit and risk management by working with Baker Tilly’s risk, internal audit, and financial institution specialists.
- The Mortgage Bankers Association (MBA) recently held their Regulatory Compliance Conference 2015 in Washington DC. It featured a number of panel sessions with individuals representing a diverse range of backgrounds, including attorneys, executive level servicing professionals, and CFPB employees, all providing guidance and perspective on the regulatory issues facing the industry. There was a large emphasis on Consumer Financial Protection Bureau (CFPB) examinations, as well as the TILA-RESPA Integrated Disclosure (TRID) rule, given the implementation began October 3, 2015.
- US companies are seeking perspective on the EU’s Safe Harbor ruling – including an understanding of the data transfer impacts, data protection and privacy concerns – and potential alternatives to preserve their ability to transfer Europeans’ personal data to the US.
- The National Credit Union Administration (NCUA) has proposed five new rules that, if enacted as written, have the potential to significantly change the commercial lending playing field for both credit unions and banks.
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