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MCUA Raises Concerns About QMs, Disparate Impact in Comment Letter on Credit Risk Retention

Nov
05

The Missouri Credit Union Association (MCUA) has filed a comment letter on an interagency proposed rule regarding credit risk retention, including a proposed definition of “qualified residential mortgage” (QRM), which is identical to the CFPB’s “qualified mortgage” (QM) definition.

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Posted By Nora Holloway read more

Cybersecurity Update: NIST Preliminary "Critical Infrastructure" Cyber Framework

Nov
01

Last week, the National Institute for Standards and Technology (NIST) issued a new request for comment on the preliminary version of its cybersecurity framework to implement parts of the President’s Executive Order on “critical infrastructure” cybersecurity

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Posted By Sharon Bahr read more

MCUA Files Comment Letter on Charitable Donation Accounts

Oct
22

Charitable Donation Accounts (CDAs) are hybrid charitable and investment vehicles. They must primarily benefit a charity, such as the National Credit Union Foundation. However, the accounts would also allow federal credit unions to make investments that are otherwise prohibited and could have a higher return as long as the majority of the returns are provided to charities.

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MCUA Does Not Agree with NCUA That New Rule on Electronic Filing is Needed

Sep
03

Rather than moving ahead with a proposal to require electronic filing by all credit unions, the National Credit Union Administration (NCUA) should instead encourage these credit unions to move toward electronic filing in a reasonable time, with a new rule, the Missouri Credit Union Association (MCUA) said in a

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Join the Credit Union Advocacy Corps

Aug
27

Advocating for credit unions and members in the state and federal legislatures is vital to credit unions’ future. The Missouri Credit Union Association (MCUA) needs credit union staff, volunteers and members to take action in advocacy efforts—people who are committed to the belief that credit unions are key players in the financial services industry; who understand that even small changes in the political environment can make or break a credit union’s bottom line; who are willing to take action to influence the decisions made by their state and federal elected officials.

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MCUA Comments on CFPB Telephone Survey Regarding Dispute Resolution Provisions

Aug
12

On August 6, 2013, the Missouri Credit Union Association (MCUA) filed a comment letter on the Consumer Financial Protection Bureau's (CFPB) request for approval by the Office of Management and Budget (OMB) for the CFPB to conduct a telephone survey.

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MCUA Sends NCUA Regulatory Review Comment Letter

Aug
06

The Missouri Credit Union Association (MCUA) sent the National Credit Union Administration (NCUA) a comment letter on Aug. 5, 2013 detailing changes to regulations that NCUA has under review for 2013. NCUA annually reviews one-third of the agency’s regulations, resulting in all of the agency’s regulations being reviewed every three years.

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Posted By Sharon Bahr read more

MCUA & DCUC Submit Comments to DoD

Aug
05

Late last week, the Missouri Credit Union Association (MCUA)  and the Defense Credit Union Council (DCUC) filed a comment letter with the Department of Defense (DoD) on the DoD’s advanced notice of proposed rulemaking regarding enhancement of the protect

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CFPB Issues New Clarifications to Mortgage Rules

Jul
16

Last week, the Consumer Financial Protection Bureau​ (CFPB) finalized corrections, clarifications, and amendments to its Ability-to-Repay and mortgage servicing rules.

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Posted By Nora Holloway read more

MCUA Files Letter with the FASB—Credit Loss Proposal Will Hurt Credit Unions

Jun
03

The Missouri Credit Union Association (MCUA) strongly opposes a proposal to change the methodology for recognizing and reporting credit impairment.  In a comment letter filed last week, MCUA urged the Financial Accounting Standards Board (FASB) not to proceed with its proposed accounting standards update.

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Posted By Nora Holloway read more

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