The CFPB announced Thursday amendments to its advisory committee charters, which include the Credit Union Advisory Council, and also announced it will begin accepting applications for new council members soon.
CUNA has released an updated version of its share insurance fund distribution calculator tool, designed to help credit unions estimate the amount of their distribution from the $160 million announced by NCUA earlier this month.
The ability of the housing finance system to accurately assess credit risk while responsibly expanding access to affordable mortgage credit for consumers is a key concern for credit unions and the members they serve, CUNA wrote to FHFA Thursday.
The National Credit Union Share Insurance Fund reported total income of $57.3 million and a net income of $24 million in the first quarter at Thursday’s National Credit Union Administration board meeting.
The National Credit Union Administration board became the first federal financial regulator to issue a revised proposed rule on incentive-based compensation at its Thursday meeting. The board voted unanimously to issue the joint rule, with comments due July 22.
The Federal Trade Commission will host a forum June 9 to explore the world of marketplace lending and its impact on consumers. CUNA filed a comment letter last year with the Treasury regarding such lenders.
UBS will pay the National Credit Union Administration $69.8 million in damages and interest for claims arising from losses to two corporate credit unions that failed during the financial crisis, the agency announced Friday.
Credit Suisse will pay the National Credit Union Administration $50.3 million in damages and interest for claims arising from losses to Members United and Southwest corporate credit unions, the agency announced Thursday.