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CFPB Officially Delays International Remittance Regulation

Jan
25

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

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FFEIC Releases Social Media Guidance & Requests Comments

Jan
25

The Federal Financial Institutions Examination Council (FFIEC) released proposed guidance entitled Social Media: Consumer Compliance Risk Management Guidance.

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ATM Disclosure Bill Signed by the President

Dec
21

The ATM disclosure bill, H.R. 4367, was signed into law by President Obama on Thursday, December 20.  The bill eliminates the requirement that ATMs display duplicative signs disclosing fees, a requirement that has created legal and financial issues for some credit unions and other financial institutions.  The bill preserves consumer notification of fees through an on-screen notice.

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MCUA Urges FHFA to Ensure Credit Unions Have Access to Secondary Mortgage Market

Dec
10

On December 3, the Missouri Credit Union Association (MCUA) filed a comment letter with the Federal Housing Finance Agency (FHFA) regarding an agency white paper entitled “Building a New Infrastructure for the Secondary Mortgage Market.”  As the FHFA moves forw

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MCUA Opposes FHFA's Proposed Adjustment to G-Fees

Dec
03

The Missouri Credit Union Association (MCUA) filed a comment letter with the Federal Housing Finance Agency (FHFA) in response to its proposal to adjust the guarantee fees (g-fees) that Fannie Mae and Freddie Mac (the GSEs) charge for single-family mortgages in certain

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Upcoming Comment Letters to NCUA

Nov
26

The Missouri Credit Union Association (MCUA) continues to press the National Credit Union Administration (NCUA) to provide additional regulatory relief for credit unions, so that credit unions can devote more resources to serving their members.  In that connection, here is a brief summary of upcoming comment letters:

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MCUA Comments on Size Definitions

Nov
21

Missouri Credit Union Association (MCUA) submitted two comment letters to the National Credit Union Administration (NCUA) and the Small Business Administration (SBA) regarding "small entity" and "small business" size definitions. 

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CFPB Delays Some Effective Dates

Nov
19

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. 

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MCUA Comments on CFPB's Mortgage Servicing Proposed Rules

Oct
15

The Missouri Credit Union Association (MCUA) submitted two separate formal comment letters on the CFPB’s mortgage servicing proposed rules.  In our letters, we urged the Bureau to consider that many of the proposal requirements are outside of the statutory requirements under the Dodd-Frank Act.  We also urged the Bureau to exempt credit unions from several provisions within the proposed rules, where possible. &

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Central Chapter Hosts Inaugural Legislative Reception

Oct
11

The Central Chapter of Credit Unions hosted 2012 election candidates Michael Wood (R) and Phyllis Domann (D) during its inaugural Legislative Reception on Wednesday, October 10 at Bones Restaurant.  This was a unique opportunity for credit union and MCUA staff to meet with the candidates in a relaxed environment and discuss topics important to the credit union movement.

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