The CFPB should take special note of the challenges faced by credit unions and other smaller mortgage lenders in the absence of certain expansions of the Qualified Mortgage safe harbor, CUNA wrote to the CFPB Monday.
FinCEN announced the launch of its Global Investigations Division, which will investigate and target terrorist finance and money laundering threats and work more closely with foreign counterparts to coordinate actions against such threats.
The FHFA has directed Fannie Mae and Freddie Mac to make specific modifications to the Uniform Residential Loan Application, including removal of a question CUNA feels could have raised legal and compliance issues.
The Consumer Financial Protection Bureau released an updated frequently asked questions document on its Truth in Lending Act-Real Estate Settlement Procedures Act integrated disclosure (TRID) rule. The document was previously updated in May.
It’s a win for consumers, their communities and their financial institution in the few scenarios when a credit union purchases a bank, League of Southeastern Credit Unions President/CEO Patrick La Pine wrote this week.
CUNA and credit union leagues from around the country wrote to House and Senate Armed Services Committee leadership Thursday to express concern over a provision in the Senate-passed version of the NDAA for fiscal year 2020.
CUNA, along with the Ohio Credit Union League, attended Thursday’s arguments before a three-judge panel of the U.S. Court of Appeals for the Sixth Circuit in Cincinnati, in support of two Michigan-based credit unions hit with frivolous lawsuits.
NCUA is encouraging groups seeking to organize credit unions to take advantage of the agency’s new Chartering Proof of Concept tool, an automated system that will help credit union organizers understand the process and prepare a charter application.
An story on the benefits of credit unions has been picked up of publications around the country, highlighting ways credit unions can “help a new generation of adults" see prosperity and featuring thoughts from CUNA Chief Economist Mike Schenk.
NCUA issued a risk alert this week describing business email compromise fraud schemes, which also consists of information on reporting to law enforcement and how report and recover from business email compromise fraud.