CUNA suggested several modernizations to the Federal Credit Union Act in a letter sent to NCUA Tuesday in response to the agency’s advanced notice of proposed rulemaking improve Federal Credit Union Act bylaws.
CUNA will be engaged with several Congressional hearings this week. The House is expected to consider the FAA Reauthorization Act of 2018, and the Senate may consider the nomination of Mike Pompeo to be Secretary of State.
Thursday, April 19 marked the effective date of amendments to the CFPB's mortgage servicing rules. Confirmed successors in interest are now entitled to the same protections available to borrowers under both Reg Z and Reg X.
NCUA finalized two rules Thursday, one on stress testing, and one on advertising. The stress testing rule is effective June 1, the advertising rule will be effective 30 days after publication in the Federal Register.
The House voted to advance two tax-related bills Wednesday, bipartisan bills passed earlier by the House Ways and Means Committee. The bills are designed to protect taxpayers and improve accountability at the IRS.
The Senate approved its resolution of disapproval for the CFPB's indirect auto lending bulletin Wednesday. CUNA wrote a letter of support for the resolution Tuesday, which would void the bulletin using the Congressional Review Act.