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CFPB Supervisory Highlights: Focus on Student Loans
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**Special Edition: CFPB Student Lending Supervisory Highlights**
**Host:** Larry Ledger
**Sponsored by:** Credit Union Exam Solutions
## Episode Overview
Analysis of CFPB's 36th edition of Supervisory Highlights focusing on student lending practices and implications for credit unions.
## Key Topics Covered:
* Student lending market size ($1.77 trillion in outstanding balances)
* CFPB's findings on deceptive refinancing practices
* Issues with unemployment protection benefits
* Problematic collection tactics
* Electronic funds transfer violations
* Federal student loan repayment challenges
## Key Takeaways for Credit Unions:
1. Review student loan refinancing program disclosures
2. Ensure sustainability of advertised benefits
3. Evaluate collection practices
4. Verify electronic funds transfer processes
5. Document policies and procedures thoroughly
6. Monitor application processing times
7. Use compliance as competitive advantage
## Resources Mentioned:
* CFPB Supervisory Highlights (36th Edition)
* Credit Union Exam Solutions services
* Mark Treichel's expertise as "The NCUA Interpreter"
## Connect With Us:
* Website: marktreichel.com
* LinkedIn: Mark Treichel (The NCUA Interpreter)
* Sponsor: Credit Union Exam Solutions
## Episode Quotes:
"In today's regulatory environment, it's not enough to just follow the rules - you need to demonstrate a commitment to fair lending practices and member service."
## Next Steps:
Contact Credit Union Exam Solutions to ensure your credit union's compliance with CFPB and NCUA regulations while saving time and money on examinations.
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*Credit Unions This Week is sponsored by Credit Union Exam Solutions, helping credit unions navigate NCUA examinations efficiently and effectively.*
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