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GAO Report: Dodd-Frank Regulations Still in Progress

Jan
25

According to a Government Accountability Office (GAO) report released this week, although regulators have made progress in implementing some key reforms required by the Dodd-Frank Act, others remain incomplete, and the effectiveness of some implemented reforms remains to be seen.  The report examines the (1) overall status of U.S. financial regulatory reforms arising from the Act, (2) challenges affecting the implementation of these reforms, and (3) areas that pose continued risk.

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Posted By Sharon Bahr read more

CU Mergers: Thresholds for Government Review Increased

Jan
25

On January 10, 2013, the Federal Trade Commission (FTC) announced the annual revisions to the Hart-Scott-Rodino Act (HSR) filing thresholds for credit unions.  The updated thresholds are $70.9 million and become effective on February 11, 2013.  HSR requires some merging credit unions to submit prior notification of a merger to the FTC if the merging credit union’s assets on its latest call report are equal to or greater than the $70.9 million threshold.

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Posted By Sharon Bahr read more

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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Posted By Sharon Bahr read more

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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Posted By Sharon Bahr read more

IRS Issues Final FATCA Regulation

Jan
25

The Internal Revenue Service (IRS) issued a final rule that implements information reporting and withholding tax provisions under the Foreign Account Tax Compliance Act (FATCA).  The rule describes the step-by-step process for U.S.

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Posted By Sharon Bahr read more

Glenn Barks Named Chairman of CDIAC

Jan
25

Glenn Barks, president/CEO of First Community Credit Union (Chesterfield) has been named the new chairman of the St. Louis Federal Reserve Board's 2013 Community Depository Institute Advisory Council (CDIAC). He joined the 12-person council in 2011.

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Posted By Halley Hayden read more
Posted By Halley Hayden read more
Posted By Halley Hayden read more

Summaries of NCUA Final Rules Posted

Jan
22

CUNA’s summaries of the National Credit Union Administration Board’s  rules on Technical Amendments to its Treasury Tax and Loan Depositaries; Low Income Designation,

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Posted By Halley Hayden read more

CFPB News 1/22

Jan
21

CFPB Finalizes Mortgage Servicing Rules

As expected, the CFPB issued its mortgage servicing rules amending Regulation X (RESPA) and Regulation Z (Truth in Lending) last week.  The final rules become effective on January 10, 2014.

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Posted By Halley Hayden read more

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