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 Federal Reserve’s first Consumer Compliance Outlook newsletter of 2017 was released recently, and emphasized the need for financial institutions to take a role in combating elder financial abuse by enhancing their policies, procedures and training.
Comments on a CFPB proposal on mortgage servicing, bureau request for information on small business lending, as well as a Treasury request for input on ways to streamlining regulations to ease burdens, are due in July.
The House Appropriations FSGG subcommittee passed its appropriations bill for fiscal year 2018. The bill contains some regulatory relief for credit unions, but also a number of provisions of serious concern to CUNA and credit unions.
The 2nd Circuit Court of Appeals handed down a decision that is good news regarding the TCPA, holding that it does not allow consumers to revoke consent to receive certain calls if consent was previously given.
CUNA and the World Council of Credit Union requested House and Senate appropriators urge the USAID give high priority to credit union development in the report for a House subcommittee's appropriations bill.
The current regulatory regime makes BSA/AML compliance daunting for community financial institutions like credit unions, Faith Anderson of American Airlines FCU told a House Financial Services subcommittee on behalf of CUNA Wednesday.
CUNA President/CEO Jim Nussle said CUNA would push to remove language placing NCUA under the appropriations process from the House FSGG appropriations bill, and called for engagement to restore the CDFI Fund and CDRLF, which saw cuts.
CUNA and 2 other organizations jointly filed an amicus brief Wednesday in defense of NCUA's revised field-of-membership rule. The brief supports NCUA's cross-motion for summary judgement against the suit brought by the American Bankers Association.
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).