FREE Year-End Regulatory Update
 

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Just in time for the holiday season, do we have a present for you! Join the InfoSight360 team on Wednesday, December 10th at 1:00pm EST for a FREE 60-minute overview of the current regulatory environment.  

During this jam-packed session, participants will hear about:

• A proposed rule from the Consumer Financial Protection Bureau (CFPB) that would make several substantive changes to Regulation B (Equal Credit Opportunity Act). Among the proposed changes, the Bureau intends to – 
  • Eliminate disparate impact liability, 
  • Narrow the definition of discouragement, 
  • Limit recourse for prospective applicants, and 
  • Add additional requirements for special purpose credit programs
     
• Another proposal from the CFPB that would significantly curtail the requirements under the small business lending data collection rule. The agency’s proposal would, among other things – 
  • Reduce the number of financial institutions covered by the rule, 
  • Change the definition of a small business, 
  • Limit the number of data points a covered institution is required to collect, and 
  • Extend the mandatory compliance dates

Interestingly enough, the CFPB proposes to accomplish all of this after recently telling the US Court of Appeals for the District of Columbia that it will run out of funding by early 2026 and is not legally permitted to draw additional funds from the Federal Reserve to continue its operations. Yep, we’ll talk about this too and how it may impact the industry. 

Meet your host!

With almost 30 years of experience in the financial services industry, Michael Christians has a unique ability to break down complex regulatory concepts and explain how those requirements impact the day-to-day operations of a credit union. As a recognized speaker on the national circuit, Michael has conducted compliance training in 42 states for both trade associations and individual credit unions. Michael earned his Juris Doctorate from Drake University Law School. He was admitted to the Iowa State Bar in 2014 where he is licensed to practice law.