The CFPB published its final short-term, small-dollar loan rule in the Federal Register Friday, much-improved over the proposed rule after advocacy from CUNA, leagues, credit unions, a big win for the credit union movement.
The Senate Tax Committee passed its tax reform bill late Thursday night, a bill that leaves the credit union tax status unchanged. The bill, the Tax Cuts and Jobs Act, is expected to see Senate consideration the week after Thanksgiving.
Forty-seven credit union professionals became Credit Union Development Educators after being guided by dedicated program facilitators and mentors through the intensive Credit Union Development Education (DE) Training from the National Credit Union Foundation.
The assessment process is the shoulders in which all BSA/AML programs sit upon, Jim Vilker of CU Answers said Wednesday at the CUNA/NASCUS BSA Conference, explained how credit unions should ensure risk assessments are comprehensive.
Serving money services businesses can be a hard decision to make, but current technology is making compliance more achievable, John Vardaman, of Hypur told attendees Wednesday at the CUNA/NASCUS BSA Conference.
The NCUA board approved the agency’s 2018-2019 budget, OTR methodology and a final corporate credit union rule at its meeting Thursday. The meeting also featured the final quarterly update on the stabilization fund, which was closed Oct. 1.
CUNA raised its concerns over website compliance with the Americans with Disabilities Act in a letter this week to the House udiciary Committee for its Department of Justice oversight hearing, continuing its push for clarity.
The House Financial Services Committee completed its markup of 23 bills Wednesday, passing three CUNA-supported bills that CUNA President/CEO Jim Nussle said offer the kind of "targeted regulatory relief credit unions need."
Consumer Financial Protection Bureau Director Richard Cordray will step down from the agency by the end of the month after serving since 2013. CUNA President/CEO Jim Nussle said CUNA looks forward to a new era at the bureau, one that takes credit unions’ structure and purpose into account during rulemakings.
Credit unions now have less than six months to come into compliance with FinCEN's Customer Due Diligence rule, effective May 11, 2018, which includes provisions on identifying the beneficial owners of legal entity accounts.