Section 342 & OMWI – Why Lenders Should Be Aware of it; LO Survey

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Posted To: Pipeline Press

It is hard to trace what happens to the fines levied against company by various regulators seeking to make a name for themselves. But one agency is a little more transparent than others: the CIA! A leading correspondent rep in the West noted that it has quite an art collection. You can see it online – just don’t try to visit it in person. Here’s some late-breaking news: regulations are impacting lending. One school of thought believes that the industry should not push back publicly against the government regarding regulation, and that we have to advocate for ourselves “behind the scenes” lest the consumer advocates will raise an outcry. Others ask, “What is the industry asking for? What special favor are we requesting? All we want is clarity on the regulations and not regulation by enforcement…(read more)

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