The Federal Reserve’s Wednesday decision to hold interest rates steady gives a strong signal to credit unions, CUNA Senior Economist Perc Pineda said. Pineda said that a strengthening economy means that a rate hike is on the horizon.
CUNA’s final rule analysis of the CFPB changes to the TRID rule is now available. The rule, published in the Federal Register this week is effective Oct. 10, with a mandatory compliance date of Oct. 1, 2018.
While proposed changes to the CFPB prepaid accounts rule provide some clarity, it will not be helpful for most prepaid card users and CUNA remains opposed to the rule’s application of Regulation Z to certain prepaid cards.