CUNA Monday sent a letter to the House subcommittee on Financial Institutions and Consumer Credit regarding the subcommittee’s hearing upcoming on, “Examining Capital Regimes for Financial Institutions.”
Changes are needed regarding how the Bureau of Consumer Financial Protection handles complaints, CUNA told the bureau in response to its request for information on the consumer complaint and inquiry process.
New warranty and indemnity rights, liabilities and obligations under Regulation CC became effective July 1, creating a new Remote Deposit Capture Indemnity to address the allocation of liability when it accepts remote deposit capture.
CUNA urged the BCFP Friday to regularly assess its overall complaint system for compliance burden relief opportunities, in response to a bureau request to OMB to renew information collection associated with its Company Portal.
CUNA President/CEO Jim Nussle and Deputy Chief Advocacy Officer Elizabeth Eurgubian attended roundtable discussion Thursday with BCFP Acting Director Mick Mulvaney on the bureau's series of RFIs on how it performs its functions.
CUNA joined other trade organizations Thursday to back the Senate's TRID Improvement Act of 2018, which would amend RESPA to allow the accurate disclosure of title insurance premiums and any potential available discounts to homebuyers.