Michael Barr served as the U.S. Department of the Treasury's assistant secretary for financial institutions, where he was a key architect of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
The newly created institutions will be known as Members United Bridge Corporate FCU and Southwest Bridge Corporate FCU . The first two bridge corporates created by NCUA were U.S. Central Bridge Corporate FCU and Western Bridge Corporate FCU.
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.
CUNA is concerned with a report on consumer testing used by the CFPB to analyze periodic statement forms for consumers in bankruptcy, but concurs with some of its findings. The bureau issued a report in February on its study.