On February 19, 2013, the Missouri Credit Union Association (MCUA) filed a comment letter with the Consumer Financial Protection Bureau (CFPB) in response to its request for information regarding certain aspects of the consumer credit card market, including regul
Last month, the Consumer Financial Protection Bureau (CFPB) finalized required amendments made by the Dodd-Frank Wall Street Reform and Consumer Protection Act to Regulation Z and Regulation X. These required amendments will have a significant impact on the way closed-end mortgage loans are serviced by credit unions going forward. The final rules become effective January 10, 2014.
The Credit Union National Association (CUNA) sent another comment letter to the Consumer Financial Protection Bureau (CFPB) asking the agency to provide a broader international remittance transfer exemption level and additional compliance relief for credit unions.
This week the Consumer Financial Protection Bureau (CFPB) officially announced in a blog post that it is delaying the effective date of its international remittance transfer rule that was set to go into effect on February 7, 2013. The new effective date will be announced “later this year” and th
The Consumer Financial Protection Bureau (CFPB) has finalized the qualified mortgages (QM) regulations, also known as the "ability-to-repay" mortgage rule. The rules are posted to the bureau's website and now may be considered "issued."
Over both 2011 and 2012, the Federal Reserve Board (Fed) and the Consumer Financial Protection Bureau (CFPB) have proposed many regulations covering the mortgage industry, but none have yet been finalized.