WASHINGTON (2/11/16)--As a U.S. House Financial Services subcommittee gears up for today’s hearing on short-term, small-dollar lending, CUNA presented its concerns that the Consumer Financial Protection Bureau has taken a “broadsword approach” that could seriously hinder credit unions’ ability to serve their most vulnerable members.
WASHINGTON (2/11/16)--CUNA President/CEO Jim Nussle said he was “deeply troubled” by the misinterpretation of the Consumer Financial Protection Bureau’s exemption authority, as expressed by Director Richard Cordray Tuesday.
ALEXANDRIA, Va. (2/10/16)--National Credit Union Administration Chair Debbie Matz and Consumer Financial Protection Bureau Director Richard Cordray were joined Tuesday by their agencies' staff to answer credit union questions in a 90-minute webinar.
ALEXANDRIA, Va. (2/8/16)--There’s still time to register for Tuesday’s webinar featuring National Credit Union Administration Chair Debbie Matz and Consumer Financial Protection Bureau Director Richard Cordray.
LOUISVILLE, Ky. (2/4/16)--The Consumer Financial Protection Bureau should continue to allow credit unions to shape their products to the needs of its members in future rulemakings, CUNA said Wednesday in response to a bureau field hearing.
WASHINGTON (1/29/16)--Consumer complaints about financial services such as debt settlement, check cashing, money orders and credit repair are the subject of this month’s snapshot from the Consumer Financial Protection Bureau.
One of the country’s biggest “buy-here, pay-here” auto dealers is the subject of an action taken by the Consumer Financial Protection Bureau Thursday, for allegedly providing damaging and inaccurate information to credit reporting agencies.
Since CUNA’s compliance staff compiled a list of changes in mortgage interest reporting under the IRS’s Form 1098, several questions have arisen. CUNA’s compliance staff has been able to connect with a coalition of consumer mortgage lenders to provide answers.
After months of advocacy by CUNA, the CFPB Thursday wrote to CUNA announcing it will initiate a rulemaking this summer to address issues with the bureau’s Truth in Lending Act-Real Estate Settlement Procedures Act integrated disclosures rule.
The Financial Accounting Standards Board voted Wednesday to proceed with its current expected credit loss proposal, which defers the original effective date for one year for entities such as credit unions--a change sought by CUNA in its comments to FASB.