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CFPB Amends Reg Z Credit Card Fee Limitation

Apr
01

The Consumer Financial Protection Bureau (CFPB) has issued a final rule to amend Regulation Z, Truth in Lending Act (TILA), and Reg Z’s official commentary regarding limitations on fees that credit card issuers may charge.  Reg Z generally limits the total amount of fees that an issuer may charge on a consumer’s credit card account to 25% of the credit limit in effect when the account is opened.

Posted By Sharon Bahr read more

MCUA Hosts Fundraiser for Four Representatives

Mar
28

The Missouri Credit Union Association hosted a fundraiser on behalf of State Representatives Sheila Solon (R-District 31), Marsha Haefner (R-District 95), Diane Franklin (R-123), and Kathie Conway (R-104) on Wednesday, March 27. More than 40 friends and supporters visited Credit Union House, located in Jefferson City, throughout the evening.

Posted By dkent read more

New ATM Disclosure Requirements to Take Effect

Mar
26

Missouri credit unions will soon be able to implement changes to ATM disclosure requirements.  The Consumer Financial Protection Bureau (CFPB) has issued a final rule amending Regulation E.  This final rule implements the change in ATM disclosure requirements that was passed by Congress in December.  The changes to Regulation E take effect as soon as the final rule is published in the Federal Register, which is anticipated this week.

Posted By Amy McLard read more

MCUA Comments on FFIEC Social Media Use Guidance

Mar
25

The Missouri Credit Union Association (MCUA) has submitted a comment letter about social media guidance to the Federal Financial Institutions Examination Council (FFIEC).

Posted By Sharon Bahr read more

FinCEN CDD Proposal Update; Virtual Currencies Guidance

Mar
25

The U.S. Treasury Financial Crimes Enforcement Network (FinCEN) will likely issue a proposed rule on customer due diligence (CDD) in the “coming weeks,” based on recent comments by senior U.S. Treasury officials.

Posted By Sharon Bahr read more
Posted By Sharon Bahr read more

Missouri’s Clay Cosponsors MBL Bill

Mar
21

Congressman William Lacy Clay (D-District 1) has signed on as a cosponsor to H.R. 688, the Credit Union Small Business Jobs Creation Act.  He is the first cosponsor on this bill from Missouri, and also supported the member business lending (MBL) bill introduced in the last Congress.

Posted By Amy McLard read more

Missouri’s Blunt Cosponsors Privacy Notice Bill In Senate

Mar
21

Missouri U.S. Senator Roy Blunt (R) is an original cosponsor to S. 635, a privacy notice bill introduced in the Senate on March 21. 

Posted By Amy McLard read more

Credit Union Bill Moves Forward with Vote in Missouri House Financial Institutions Committee

Mar
19

HB 478, a bill modernizing the Missouri Credit Union Statute dealing with joint accounts, is moving forward in the Missouri House of Representatives. The House Financial Institutions Committee unanimously voted HB 478 out of committee as a consent bill on March 6.     Representative Paul Wieland (R-District 112) is the bill’s sponsor.

The Missouri Credit Union Association testified in support of the bill during the committee hearing.

Posted By Amy McLard read more

Court Dismisses MBS Counts Against Goldman Sachs & Co.

Mar
19

The U.S. District Court for the Central District of California on Thursday, March 14, 2013, tentatively dismissed seven of the National Credit Union Administration's (NCUA) eight claims against Goldman Sachs & Co. related to the sales of mortgage-backed securities to corporate credit unions because they were not filed prior to the expiration of the statute of limitations.

Posted By Sharon Bahr read more

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