CUNA’s compliance staff has received questions about what the Fair Credit Reporting Act says about credit unions being allowed to pull credit reports for cross-selling purposes. Credit unions are not allowed to do so, with one limited exception.
The Department of Labor will publish its final rule Wednesday regarding employees’ eligibility for overtime pay--a rule which CUNA believes will have unintended negative consequences for credit unions, particularly smaller credit unions and those in non-metropolitan areas.
CUNA President/CEO Jim Nussle said the NCUA's announcement Thursday that it will review the examination process is very good news for credit unions. NCUA Chair Rick Metsger said he would like a thoughtful review of the cycle.
WASHINGTON (3/22/16, UPDATED 3:54 p.m. ET)--The Consumer Financial Protection Bureau Tuesday issued an interim final rule--strongly advocated by CUNA in both the regulatory and legislative fronts--that broadens the availability of certain special provisions for credit unions and other small creditors in the Regulation Z qualified-mortgage and escrow rules.
ALEXANDRIA, Va. (2/18/16, UPDATED 11:25 a.m. ET)--The National Credit Union Administration (NCUA) just approved a final rule, supported by CUNA, that represents a complete overhaul of the NCUA’s member business lending regulation.