news.cuna.org/articles/107575-inside-washington

Inside Washington

September 17, 2015

RESTON, Va. (9/17/15)--The Financial Services Sharing and Analysis Center (FS-ISAC) will allow Federal Reserve Banks to provide their customers with access to cybersecurity threat intelligence, it announced Wednesday. FS-ISAC members will be able to access the Weekly Risk Summary Report, which is designed for community institutions and delivers timely and actionable information on significant security threats. CUNA members are also eligible for access to the weekly report…

WASHINGTON (9/17/15)--Its website may have a new look and feel, but it features the same in-depth information, says the U.S. Treasury Department's Community Development Financial Institution (CDFI) Fund.  The CDFI Fund says it redesigned its website to better serve fund applicants and awardees and members of the public. One new feature is a CDFI Fund Impact Blog, which will showcase success stories from across the country and highlight award programs. Other improvements include: an introduction of “How to Apply” steps for CDFI programs, which will organize the fund's guidance based upon stages of the application or award processes; clearer navigation through the site and different pages; and a "robust" search and filter functions to help locate documents. More changes are coming…

FERGUSON, Mo. (9/17/15)--A 16-member Ferguson Commission released a report this month naming lack of access to traditional banking services in low- and moderate-income communities--like Ferguson, Mo.--as one factor that leads to crime and social unrest. (American Banker Sept. 16) The report calls for officials to strengthen poor minority communities' access to financial services.  It further recommended that communities should also restrict the prevalence of predatory lending to help arrest crime and poverty. The report seeks action from the Consumer Financial Protection Bureau and Missouri Legislature to set tougher rules and limits on alternative financial service providers like payday lenders and title loan companies--putting them more in line with traditional lending practices. For instance, it said, repayment terms, collection and underwriting standards should be changed and the allowable annual percentage rates of interest should be capped at 36%...

WASHINGTON (9/17/15)--The Federal Reserve Board has announced the appointment of Todd Aadland as its Payments Security Strategy Leaders. Aadland, senior vice president of the Chicago Fed, will lead the Federal Reserve System’s activities to address fraud risk and advance the safety, security and resiliency of its payments system. He will chair the Secure Payments Task Force, which consists of more than 170 payments stakeholders…