The House voted 294-129 in favor of a bill Tuesday that would provide mortgage-related regulatory relief. The Community Institution Mortgage Relief Act of 2017 (H.R. 3971) was introduced in October by Rep. Claudia Tenney (R-N.Y.).
CUNA filed an amicus brief Tuesday supporting the president’s authority to appoint an interim CFPB director under the Vacancies Reform Act. CUNA and its members have a strong interest in ensuring that the CFPB operates under proper direction.
The House passed the CUNA-backed bill Monday that would prevent regulators from requesting termination of certain accounts without a material reason. The Financial Institution Consumer Protection Act is consistent with CUNA’s bipartisan, pro-consumer Campaign for Common-Sense Regulation.
CUNA raised its concerns over website compliance with the Americans with Disabilities Act in a letter this week to the House udiciary Committee for its Department of Justice oversight hearing, continuing its push for clarity.
The House Financial Services Committee completed its markup of 23 bills Wednesday, passing three CUNA-supported bills that CUNA President/CEO Jim Nussle said offer the kind of "targeted regulatory relief credit unions need."
NCUA’s 2018-2019 budget and the overhead transfer rate methodology are highlights of NCUA’s Thursday board meeting, as well as a vote on a final corporate credit union rule and a stabilization fund update.
Consumer Financial Protection Bureau Director Richard Cordray will step down from the agency by the end of the month after serving since 2013. CUNA President/CEO Jim Nussle said CUNA looks forward to a new era at the bureau, one that takes credit unions’ structure and purpose into account during rulemakings.
The House passed legislation to reauthorize the National Flood Insurance Program, including changes that could limit future coverage and discounts for high-risk properties, modify premiums and surcharges paid by policyholders and expand opportunities for private insurers to sell policies.
Most cybercrime employs social engineering, Jerry Beasley of TraceSecurity told attendees of the CUNA/NASCUS BSA Conference Tuesday. Beasley explained that social engineering techniques are deliberately designed to people’s inherent vulnerabilities, taking advantage of the human condition.
Speaking Tuesday at the CUNA/NASCUS Bank Secrecy Act Conference, Mauriceo Castanheiro, director of fraud analytics with Verafin, talked about how fraud has evolved and how it has made certain populations especially vulnerable.
BSA compliance is now an integral part of a financial institution’s cybersecurity strategy, Jim Vilker, vice president of CU Answers, said Tuesday at the CUNA/NASCUS BSA Conference, explaining it changed with an October 2016 bulletin from FinCEN.