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Home » Store » News » Bank Vendors Not Ready for Prime Time, CFPB Compliance-Wise

Bank Vendors Not Ready for Prime Time, CFPB Compliance-Wise

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A recent survey by the American Bankers Association of its membership found that, as of the end of June, 60 percent of bank vendors have not told banks when they will be ready to comply with the CFPB’s new mortgage rules. For institutions that will receive vendor products over time (as opposed to all at once), 56 percent stated that their vendor had not provided information on when it will deliver the first installment of the project; 17 percent anticipate receiving the first installment in September or October; and 8 percent anticipate...
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