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.
President Barack Obama sent greetings Thursday to those celebrating International Credit Union Day. CUNA worked closely with the White House on the statement, and a number of credit union-friendly legislators also weighed in with the White House.
The NCUA’s revised supervisory approach to interest rate risk is covered in a recent Letter to Credit Unions (16-CU-08). The new standardized approach is designed to increase focus and resources toward higher risk credit unions.
CUNA’s Strategic Communications Department teamed up with The Wall Street Journal this week on an infographic illustrating the differences between credit unions and banks. The graphic ran in print today, on International Credit Union Day.