MADISON, Wis. (1/4/16)--The successful passage of regulatory relief legislation, supported by the Credit Union National Association (CUNA), grabbed the attention of News Now readers in December, leading the top 10 most-read articles.
Three key credit union regulatory relief provisions--part of the Fixing America’s Surface Transportation Act --were signed into law Dec. 4 by President Barack Obama. The provisions modernize privacy notification requirements, allow privately insured credit unions to join the Federal Home Loan Bank (FHLB) program and direct the Consumer Financial Protection Bureau (CFPB) to establish a process for determining whether an area should be designated “rural.”
Compliance issues continue to be highly read, with readers tapping into articles on CFPB’s Home Mortgage Disclosure Act (HMDA) guide and the Truth-in-Lending Act-Real Estate Settlement Procedures Act integrated disclosure (TRID) rule.
The top 10 News Now articles for December:
WASHINGTON (12/3/15)--The recent Federal Communications Commission omnibus Telephone Consumer Protection Act (TCPA) order is arbitrary, capricious and should be vacated, CUNA told the U.S. Court of Appeals for the District of Columbia Wednesday.
WASHINGTON (12/21/15)--Credit unions and CUNA saw a victory earlier this month when several regulatory relief provisions were included in the long-term federal highway bill. Now that those three provisions are law, when do they become effective and when should credit unions be prepared to make changes?
WASHINGTON (12/8/15 UPDATED 10:15 a.m. ET)--The House Financial Services Committee just passed the CUNA-supported Data Security Act of 2015 (H.R. 2205) in a 46-9 vote.
WASHINGTON (12/3/15)--A HMDA small-entity compliance guide is among a number of resources released Wednesday by the CFPB.
MINNEAPOLIS (12/2/15, UPDATED 12:57 p.m. CT)--A proposed $39 million settlement has been reached between Target Corp. and the credit unions and other financial institutions that brought claims related to the retailer's massive December 2013 data breach. The settlement still awaits federal court approval.
WASHINGTON (12/10/15 UPDATE 3:25 p:m ET)--CUNA’s board of directors has taken important steps toward modernizing CUNA’s operations and bringing about a more open and inclusive membership structure to best meet the needs of credit unions, CUNA President/CEO Jim Nussle reported to membership today.
WASHINGTON (12/2/15, UPDATED 1:54 p.m. ET)--A congressional conference committee's new draft highway and transit bill contains credit union regulatory victories strongly supported by CUNA. The draft legislation creates a compromise bill expected to be voted this week by both the U.S Senate and House.
WASHINGTON (12/16/15 UPDATED 1:22 p.m. ET)--The last time the Federal Reserve hiked interest rates, the United States was still two years away from watching the economy crumble under its feet. Nearly a decade later, the Fed has finally decided to begin reining in its gracious monetary policy stance, and today announced it would raise rates by a quarter point. “Finally,” said CUNA Chief Economist Bill Hampel. “We can all get back to work now and quit speculating on when rates will eventually rise.”
WASHINGTON (12/14/15)--A review of recent mortgage loans for TRID compliance showed violations in more than 90% of loans, according to a report from Moody’s published last week.
WASHINGTON (12/7/15)--Three key credit union regulatory relief provisions were signed into law Friday by President Barack Obama. The provisions were passed as part of the FAST Act, which is a five-year, $305 billion highway funding package.