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CFPB Amends Reg Z Credit Card Fee Limitation

Apr
01
CFPB Amends Reg Z Credit Card Fee Limitation

The Consumer Financial Protection Bureau (CFPB) has issued a final rule to amend Regulation Z, Truth in Lending Act (TILA), and Reg Z’s official commentary regarding limitations on fees that credit card issuers may charge.  Reg Z generally limits the total amount of fees that an issuer may charge on a consumer’s credit card account to 25% of the credit limit in effect when the account is opened.

Posted By Sharon Bahr read more

FHLBanks Offer to Work with NCUA on Emergency Liquidity Issues

Feb
04

The presidents of all of the Federal Home Loan Banks have written to the National Credit Union Administration (NCUA) in support of the use of the FHLBanks as a source of emergency liquidity for credit unions. In July 2012, NCUA issued a proposal that addresses emergency liquidity requirements for federally insured credit unions. The proposal would require credit unions with assets of $100 million or more to have access to a backup federal liquidity source for emergencies.

Posted By Sharon Bahr read more

CFPB Delays Some Effective Dates

Nov
19
CFPB Delays Some Effective Dates

The Consumer Financial Protection Bureau (CFPB)  is extending the effective date of several mortgage disclosures required by the Dodd-Frank Act that have to be included in the new TILA-RESPA forms.  These new forms are expected to be finalized by early spring.  The CFPB announced the delay on November 16. 

Posted By Sharon Bahr read more

MCUA Urges Changes to CFPB's TILA-RESPA Rule

Nov
15
MCUA Urges Changes to CFPB's TILA-RESPA Rule

On November 6, 2012, the Missouri Credit Union Association (MCUA) filed a comment letter with the Consumer Financial Protection Bureau (CFPB) on the agency’s proposed rule to amend Regulation Z, Truth in Lending Act (TILA), and Regulation X, the Real Estate Se

Posted By Sharon Bahr read more

Comments Filed on CFPB's Finance Charge Proposal

Nov
15
Comments Filed on CFPB's Finance Charge Proposal

On November 6, 2012, the Missouri Credit Union Association (MCUA) filed a comment letter with the Consumer Financial Protection Bureau (CFPB).

Posted By Sharon Bahr read more

CFPB Proposal to Amend Regulations X and Z

Sep
10
CFPB Proposal to Amend Regulations X and Z

Another comment letter was filed by the Missouri Credit Union Association (MCUA) and Credit Union National Association (CUNA) last week, this one with the CFPB in response to its proposed rule to amend Regulations X and Z to implement change

Posted By abucaida@mcua.org read more

Credit Unions Hear from CFPB Director

Sep
04
Credit Unions Hear from CFPB Director

Credit union representatives took part in a conference call with CFPB Director Richard Cordray to ask questions and raise concerns about recent regulations. The call lasted an hour and a range of issues was discussed including the mortgage-related proposals and international remittances.

Posted By Halley Hayden read more

CFPB's TILA/RESPA Proposed Rule

Aug
27

The Consumer Financial Protection Bureau (CFPB) has issued its proposed rule to formally combine certain disclosures required under both the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA), as required under the Dodd-Frank Wall Street Reform and Consumer Protection Act.  

Posted By Sharon Bahr read more

CFPB Roundtable Meeting On TILA/RESPA/HOEPA Proposals

Aug
27
CFPB Roundtable Meeting On TILA/RESPA/HOEPA Proposals

The Consumer Financial Protection Bureau (CFPB) recently held a roundtable meeting to discuss the proposed rule and forms to combine certain disclosures required under the Real Estate Settlement Procedures Act (RESPA) with disclosures required under the Truth in Lending Act (TILA), as well as the proposed rule to implement recent changes to the Home Ownership and Equity Protection Act (HO

Posted By Sharon Bahr read more

Proposed Mortgage Servicing Rules Issued by CFPB

Aug
10
Proposed Mortgage Servicing Rules Issued by CFPB

The CFPB today issued two proposals to implement provisions in the Dodd-Frank Wall Street Reform and Consumer Protection Act regarding servicing of mortgage loans.

Posted By abucaida@mcua.org read more

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