While the DOD has affirmed the Military Lending Act’s effective date for credit card accounts of Oct. 3, CUNA is engaged with legislators to build support for efforts to exempt credit unions from the rule.
NCUA Wednesday released a package of possible regulatory reforms and urged credit union stakeholders to read and comment. According to the agency, the reforms were recommended by an internal NCUA task force.
The House passed a CUNA-backed resolution of disapproval Tuesday for the CFPB's arbitration rule. CUNA has a number of concerns with the rule, and sent a letter of support in advance of the House vote.
The CFPB released several new resources relating to HMDA implementation, including updating the preview of its “HMDA Platform” system, an online-only system designed to guide filers through the reporting process and through which they can file.
CUNA urged the DOL Thursday to provide further clarification that credit unions are not the target of its fiduciary rule, and to provide any carve-outs to ensure no impact to credit unions’ ability to provide information.
The NCUA announced consolidation of regional offices and reorganization of staff Friday as part of Chairman J. Mark McWatters’ reevaluation of agency operations, including consolidation of the 5 regional offices into 3.
CUNA witness Tim Mislansky stressed to the Senate Banking Committee Thursday the need for credit union access to a functioning, well-regulated secondary mortgage market and a system that will accommodate demand for long-term fixed-rate mortgage products.
In addition to the NCUA board’s decisions involving the Temporary Corporate Credit Union Stabilization Fund, Thursday’s meeting saw a mid-year budget review, a proposal on emergency mergers and an update on the share insurance fund.
CUNA supports the efforts of lawmakers on a resolution of disapproval for the Consumer Financial Protection Bureau’s arbitration rule that would financial service providers from using pre-dispute resolution agreements to block class action lawsuits.
CUNA’s final rule analysis of the CFPB changes to the TRID rule is now available. The rule, published in the Federal Register this week is effective Oct. 10, with a mandatory compliance date of Oct. 1, 2018.
While proposed changes to the CFPB prepaid accounts rule provide some clarity, it will not be helpful for most prepaid card users and CUNA remains opposed to the rule’s application of Regulation Z to certain prepaid cards.
Credit Unions for Kids connects the credit union movement and CMN Hospitals to ensure patients are able to get the care they need. One such patient will perform on "America’s Got Talent" Tuesday at 8 (ET).