A federal appeals court voided the Department of Labor’s fiduciary rule Thursday, saying it was an arbitrary exercise of administrative power. CUNA believes would have created additional compliance burdens for credit unions.
The U.S. Congress should get to work and develop a plan for the future of the U.S. mortgage market, House Financial Services Committee Chairman Jeb Hensarling (R-Texas) and Federal Housing Finance Agency Acting Director Edward DeMarco each said during a Tuesday committee hearing.
The immediate future of the U.S. economy remains uncertain, and National Credit Union Administration Chief Economist John Worth addresses what different economic forecasts could mean for credit unions in a new YouTube video.
ALEXANDRIA, Va. (UPDATED: 3/19/13, 1:30 P.M. ET)--The National Credit Union Administration's criteria for conducting a fair lending exam or off-site supervision contact are addressed in a new letter to credit unions (13-FCU-02) released today.
WASHINGTON (UPDATED: 3/19/13, 10:30 A.M. ET)--The Senate Banking Committee has approved Richard Cordray's nomination to head the Consumer Financial Protection Bureau by a 12 to 10 vote. Cordray's nomination will now move on to the full U.S. Senate.
The Financial Accounting Standards Board should delay its credit loss reporting proposal, a plan that CUNA says could have costly and harmful consequences for credit unions. CUNA met with FASB representatives Monday at the CUNA Washington office.
Noting that credit unions are natural partners for higher education institutions seeking to provide the most cost effective, student focused financial services to their students, CUNA urged the Consumer Financial Protection Bureau to avoid imposing any new student lending regulations on credit unions.
A Senate version of legislation that would make significant improvements in privacy notices for consumers could be introduced in the near future, perhaps as early as this week, CUNA Senior Vice President for Legislative Affairs Ryan Donovan noted on Monday.
This week's edition of CUNA's Regulatory Advocacy Report gives credit unions a snapshot of the latest regulatory developments inside and outside of the credit union system, from a recent CUNA executive committee meeting with National Credit Union Administration Chairman Debbie Matz to the status of a National Labor Relations Board Supreme Court case that has implications for the Consumer Financial Protection Bureau.