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.
CUNA staff attended a roundtable discussion Monday hosted by the Small Business Administration’s Office of Advocacy to discuss needed changes to CFPB rules, and provide credit union-specific suggestions for modifications to rules.
A witness will testify on behalf of CUNA before a House Financial Services subcommittee on financial institutions and consumer credit Wednesday on compliance with the Bank Secrecy Act, among other happenings in Washington, D.C. this week.
CUNA joined with other trade organizations last week outlining ways the Department of Defense can improve on unintended negative consequences of the agency’s MLA regulation, including issuing an interim final rule amending the regulation.
With privately insured credit unions that meet certain requirements eligible to join the FHLB program starting July 5, CUNA compliance staff has developed a final rule analysis with an overview of new requirements.
CUNA joined other trade groups this week in expressing strong support for language supporting a commission to lead CFPB be included in fiscal year 2018 appropriations legislation, a goal of CUNA’s Campaign for Common-Sense Regulation,
In addition to issuing 2 proposals, the NCUA board finalized 3 rules Friday, and heard an update on the agency’s Enterprise Solutions Modernization program. The final rules involve safe harbor, inflation of penalties and FOIA.
The NCUA board unanimously voted Friday to issue a request for comment on revising the OTR methodology, as well as a proposed rule on corporate credit unions. CUNA is currently analyzing the proposed OTR changes.
NCUA Acting Chair J. Mark McWatters discussed recommendations to “achieve real relief while maintaining safety and soundess” before the Senate Banking Committee Thursday, part of a hearing on regulators’ role in fostering economic growth.
The NCUA this week filed a motion to deny the ABA's request for summary judgment its lawsuit against the agency’s field-of-membership rule. The request also asks the court to grant NCUA’s motion for summary judgment.
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).