Senate Majority Leader Mitch McConnell (R-Ky.) filed cloture Thursday on several nominations, including Kathy Kraninger to lead the Bureau of Consumer Financial Protection, setting up a Senate vote on confirmation for the week after Thanksgiving.
The BCFP has updated its small entity compliance guide for HMDA to reflect changes in S. 2155 and the bureau’s August interpretive rule. CUNA has urged the bureau to move quickly in implementing the S. 2155 changes.
The Bureau of Consumer Financial Protection expects to issue proposed rules in January reconsidering its short-term, small-dollar rule, it announced Friday, likely revisiting only the ability-to-repay provisions, not the payments provisions.
The Bureau of Consumer Financial Protection issued its Fall 2018 rulemaking agenda this week, with several items reflecting CUNA’s advocacy with the bureau. The agenda is a snapshot of the bureau’s regulatory priorities into 2019.
CUNA supports the Bureau of Consumer Financial Protection’s participation in the Global Financial Innovation Network, but strongly encourages the bureau encourage the network to ensure a level playing field in comments submitted Sunday.
CUNA hosted a webinar Wednesday with Bureau of Consumer Financial Protection staff on changes to HMDA reporting requirements. A recording of the webinar is available for free to CUNA members, and will be available shortly.
CUNA generally supports the Bureau of Consumer Financial Protection’s policy to encourage Trial Disclosure Programs but recommends any bureau-approved programs be narrow in scope and not excessively deviate from traditional disclosure standards.
CUNA staff attended Thursday’s meeting of the Bureau of Consumer Financial Protection’s Credit Union Advisory Council. The bureau recently restructured the CUAC and named seven CUNA members to serve on the council for one-year terms.
The Bureau of Consumer Financial Protection, in collaboration with 11 financial regulators and related organizations, seeks comments regarding a consultation document on a Global Financial Innovation Network, due by Oct. 14.