Six federal agencies published guidance last week designed to ensure all depository institutions are aware of expectations when it comes to deposit reconciliation. CUNA’s compliance explains what it means for credit unions in a recent CompBlog post.
The CFPB's spring rulemaking agenda contains a number of important items for credit unions. CUNA has advocated that certain rulemakings should be tailored to focus on less-regulated participants in the marketplace, and will continue to do so.
The CFPB will host a field hearing on short-term, small-dollar lending June 2, and CUNA expects the bureau will unveil its rule on such loans in conjunction with the hearing. The hearing will take place in Kansas City, Mo.
The CFPB arbitration proposal could have a number of negative effects on consumers and financial institutions, witnesses and congressmen said at a Wednesday hearing on the proposal. CUNA believes the proposal is inappropriate for credit unions.
CUNA officials met Wednesday with CFPB Director Richard Cordray and had a good dialogue on topics ranging from credit union concerns with the new Home Mortgage Disclosure Act rule to issues surrounding the bureau's anticipated payday lending rule.
The CFPB's arbitration proposal tells credit union members to bypass an efficient, cost-effective resolution process and head straight to the courthouse, CUNA told a U.S. House subcommittee Tuesday, the day before a hearing on the proposal.
The CFPB is seeking comments on consumer decision-making when repaying student loans, and CUNA is requesting feedback as it creates its own comment letter on the matter. Comments are due to CUNA May 23.
The CFPB's recent proposal on arbitration will be examined by a House subcommittee Wednesday. The hearing is titled “Examining the CFPB’s Proposed Rulemaking on Arbitration: Is it in the Public Interest and for the Protection of Consumers?”
Testifying on behalf of CUNA during Thursday's CFPB field hearing in Albuquerque, N.M., attorney Kevin Hammar expressed dismay regarding the "one-size-fits-all" approach of the agency's proposed rule on arbitration clauses.
The subject of dividends has come up in a number of questions to CUNA’s compliance staff recently, making this a good time to address questions with the NCUA’s Truth in Savings Regulation (12 CFR 707).
The CFPB is expected to release its proposal on debt collection in conjunction with a July 28 field hearing in Sacramento, Calif. CUNA has met with the bureau a number of times to address the forthcoming rulemaking.