CUNA wrote to the House Appropriations Subcommittee on Financial Services and General Government to express concern that the administration’s budget request does not include adequate funding for the Community Development Financial Institutions Fund or the Community Development Revolving Loan Fund.
The Consumer Financial Protection Bureau (CFPB) on Tuesday issued a final rule concerning small dollar lending. The final rule rescinds the mandatory underwriting provisions of the 2017 rule, but does not rescind or alter the payments provisions of the 2017 rule.
Consumer Financial Protection Bureau Director Kathy Kraninger on Tuesday issued a ratification of prior regulatory actions taken by the CFPB. The ratification covered actions the Bureau took from January 4, 2012 through June 30, 2020.
CUNA wrote to the House Appropriations Subcommittee on State-Foreign Operations and Related Programs on Monday that it strongly supports the $17 million funding level for the Cooperative Development Program (CDP) in fiscal year 2021.
In a letter to the Federal Communications Commission (FCC), CUNA and other organizations expressed concerns that legitimate calls are continuing to be blocked by voice service providers (VSP) under the STIR/SHAKEN caller identification framework meant to target illegal robocalls.
CUNA filed a comment letter in support of NCUA’s proposed rule on joint ownership for share accounts. The proposal addresses the requirement for separate joint account insurance that each co-owner of a joint account has personally signed a membership card or account signature card.
NCUA and other federal regulatory agencies requested public comment on new and revised Interagency Questions and Answers Regarding Flood Insurance in light of changes to flood insurance requirements under the agencies’ joint rule regarding loans in special flood hazard areas.
The NCUA and CFPB released their Spring 2020 rulemaking agendas. The agendas cover regulatory issues the agencies expect to work on in the coming months, but are mostly predictions and can be amended at any time.
FinCEN has issued guidance to address questions related to Bank Secrecy Act/Anti-Money Laundering regulatory requirements for hemp-related business customers. This covers hemp-related businesses, not marijuana-related businesses, which are covered by FinCEN’s 2014 guidance.