The Consumer Financial Protection Bureau must clear up ambiguity surrounding the definition of “small creditor” as it relates to the bureau’s new mortgage rules, CUNA President/CEO Nussle said in a letter to CFPB Director Richard Cordray Tuesday.
CUNA was successful in getting the Consumer Financial Protection Bureau to delay the effective date of the Truth in Lending Act-Real Estate Settlement Procedures Act integrated disclosures rule to Oct. 3, but continues to call for a safe harbor for legal liability and enforcement through the end of the year.
Consumer Financial Protection Bureau Director Richard Cordray told the Senate Banking Committee Wednesday that the lending practices of credit unions and community banks are the most consumer-friendly of the nation's financial institutions.
Consumers lose when the Consumer Financial Protection Bureau (CFPB) keeps credit unions from serving them. That’s the message CUNA sent to the U.S. Senate Banking Committee Tuesday in advance of the committee's hearing with CFPB Director Richard Cordray.
WASHINGTON (7/14/15 UPDATED 12:30 p.m. ET)--Consumers lose when the Consumer Financial Protection Bureau (CFPB) keeps credit unions from serving them. That’s the message CUNA sent to the U.S. Senate Banking Committee in advance of its Wednesday hearing with CFPB Director Richard Cordray.
WASHINGTON (7/29/15 UPDATED 2:18 p.m. ET)--The Federal Open Market Committee is maintaining the federal funds rate, citing “moderate” expansion of U.S. economic activity in its post-meeting statement this afternoon.