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Credit Unions Hear from CFPB Director

Sep
04

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 Extends Comment Dates for “Finance Charge” And HOEPA Proposed Changes

Sep
04

The Consumer Financial Protection Bureau (CFPB) has delayed the comment deadline from September 7 to November 6 for two important proposals, one on the definition of “finance charge” under the “Know Before You Owe” combined Truth-in-Lending and Real Estate Settlement Procedure Act forms proposal, and the other to implement changes to Regulation Z under the Home Ownership and Equity Protection Act (HOEPA) as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Posted By Halley Hayden read more

Missouri Credit Unions Asked to Respond to CFPB International Remittance Transfer Rule

Aug
31

Missouri Credit Unions Asked to Respond to CFPB International Remittance Transfer Rule

Missouri credit unions have an opportunity to weigh in on the Consumer Financial Protection Bureau’s (CFPB) final rule on international remittance transfers.  CFPB Director Richard Cordray has asked the Credit Union National Association (CUNA) to assemble a working group that will meet with him in-person to discuss the rule and its impact on credit unions. 

Posted By Amy McLard 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

Conference Call with CFPB's Richard Cordray - Thursday, August 30

Aug
27

Credit unions have an opportunity to hear directly from Consumer Financial Protection Bureau (CFPB) Director Richard Cordray during an audio conference call to specifically address key concerns and issues. He will address issues of primary concern to credit unions and take questions.

Posted By Sharon Bahr read more

CUNA Comments on CFPB Senior Financial Exploitation Request

Aug
27

On August 20, Credit Union National Association (CUNA) submitted a comment letter to the Consumer Financial Protection Bureau (CFPB) on its request for information on senior financial exploitation.  In the comment letter, CUNA supports efforts by the CFPB to help seniors avoid financial exploitation and to encourage responsible decisions regarding financial management.  Credit unions offer a broad range of financial services to meet th

Posted By Sharon Bahr read more

CFPB Roundtable Meeting On TILA/RESPA/HOEPA Proposals

Aug
27

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

Missouri Federal Lawmakers Ask CFPB to Delay, Study Remittances Regulation

Aug
20

Missouri Federal Lawmakers Ask CFPB to Delay and Study Remittances Regulation

Four Missouri members of the U.S. Congress signed a letter encouraging the Consumer Financial Protection Bureau (CFPB) to delay and study the impact of its proposed remittances regulation, Section 1073 of the Dodd-Frank Act.  There is concern that the final rules as written will drastically curtail the availability of international transfers to consumers.

Posted By Amy McLard read more

Joint Agencies Propose Rule on Appraisal Requirements for "Higher-Risk" Mortgage Loans

Aug
20

On the same day as the Consumer Financial Protection Bureau (CFPB) proposed its own rule on appraisals and valuations discussed above, the joint federal banking regulators, including National Credit Union Administration (NCUA) and the CFPB, proposed a separate rule concerning the appraisal requirements relating to “higher-risk” mortgage loans.  General comments on this rule are also due on October 15, 2012, and this rule is also required to be finalized by the agencies by January 21, 2013. 

Posted By Sharon Bahr read more

CFPB Proposed Rule on Appraisals & Valuations

Aug
20

The Consumer Financial Protection Bureau (CFPB) proposed a new rule on appraisals and valuations.  General comments are due by October 15, 2012, and the CFPB is required to finalize the rule not later than January 21, 2013.  The proposed rule would amend Regulation B, which implements the Equal Credit Opportunity Act and would apply to applications for credit where the loan would be secured by a first lien on a dwelling. 

Posted By Sharon Bahr read more

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