The CFPB's stated intention to review the General QM rule brings uncertainty and instability to the mortgage financing system, CUNA wrote in response to a statement indicating it would review the General QM Final Rule, finalized on December 10, 2020.

The CFPB proposed a set of rule changes intended to prevent foreclosures and assist consumers as the emergency federal foreclosure protections expire, including temporary amendments to Regulation X’s mortgage servicing requirements regarding loss mitigation

CUNA Chief Economist Mike Schenk examines the chances of NCUA issuing an NCUSIF premium and other topics in this month’s Economic Update video. NCUA Chairman Todd Harper said the agency may no longer be able to avoid charging a premium.

FinCEN Director Kenneth A. Blanco Friday announced several leadership changes impacting the bureau. Blanco announced he will depart FinCEN on April 9, after serving as the organization’s director since December 2017.

NCUA Chairman Todd Harper has been named Chairman of the Federal Financial Institutions Examination Council (FFIEC). His two-year term runs from April 1, 2021, through March 31, 2023.

Reps. Tom Emmer (R-Minn.) and Ed Perlmutter (D-Colo.) introduced a bill Thursday that would modernize the Federal Credit Union Act to update the credit union member expulsion process while ensuring a fair procedure for reinstatement.

The U.S. Supreme Court ruled in favor of CUNA’s position in Facebook v. Duguid Thursday, supporting a narrow scope for the Telephone Consumer Protection Act’s definition of an automated telephone dialing system.

The CFPB announced Wednesday it is rescinding seven policy statements issued last year that provided temporary flexibilities to financial institutions in consumer financial markets including mortgages, credit reporting, credit cards, and prepaid cards.

Comments on several proposals of importance to credit unions are due in April, including an extended deadline for NCUA’s proposal on CUSOs, CFPB's proposal on QM, and FHFA's request on disaster risk.

Five federal financial regulatory agencies, including NCUA and the CFPB seek information on how financial institutions use AI in their activities, including fraud prevention, personalization of customer services, credit underwriting, and other operations.