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CFPB Survey

Feb
25
CFPB Survey

The Credit Union National Association (CUNA) will soon post a comment call that seeks information from credit unions on services specifically marketed to higher education students.

Posted By Sharon Bahr read more

NCUA Risk Alert on DDoS Attacks

Feb
25
NCUA Risk Alert on DDoS Attacks

The National Credit Union Administration (NCUA) has released a new credit union risk alert (13-Risk-01), which identifies appropriate policies and procedures to guard against distributed denial-of-service (DDoS) attacks.  To mitigate effects from DDoS attacks, NCUA recommends that credit unions:

Posted By Sharon Bahr read more

MCUA Comments on CFPB Proposal on Ability to Repay

Feb
25
MCUA Comments on CFPB Proposal on Ability to Repay

The Consumer Financial Protection Bureau (CFPB) has already adopted a final rule to implement the ability to repay provisions regarding closed-end mortgage loans under the Dodd-Frank Act. The rule takes effect January 10, 2014. However, the agency is also seeking comments, through today, February 25, on a proposal that would allow some creditors to have more flexibility in complying with the rule.

Posted By Sharon Bahr read more

Joint Effort to Improve Low-Income Designation Process

Feb
25
Joint Effort to Improve Low-Income Designation Process

Last week, the National Credit Union Administration (NCUA) announced a joint NCUA-National Association of State Credit Union Supervisors (NASCUS) effort to streamline the process for federally insured, state-charted credit unions to determine whether they are eligible for designation as a low-income credit union (LICU).

Posted By Sharon Bahr read more

NCUA Holds Monthly Open Board Meeting

Feb
19
NCUA Holds Monthly Open Board Meeting

The National Credit Union Administration (NCUA) will hold its monthly open Board meeting on February 21, 2013 at 10:00 a.m. There are currently three items listed on its agenda for consideration by the NCUA Board:

Posted By Sharon Bahr read more

Three Federal Bills Introduced Would Impact Credit Unions

Feb
19
Three Federal Bills Introduced Would Impact Credit Unions

Federal lawmakers have introduced three bills in the U.S. House of Representatives that would impact credit unions .  The bills, introduced between February 14 and 15, deal with member business lending, supplemental capital, and privacy notification requirements.

The new member business lending bill (MBL) is. H.R. 688 and was introduced by U.S. Rep. Ed Royce (R-CA)on February 14 .  It would lift the credit union member business lending cap to 27.5% of assets, from the current 12.25%.

Posted By Amy McLard read more

FLEC Holds First Meeting of 2013

Feb
19
FLEC Holds First Meeting of 2013

Last week, the Financial Literacy and Education Commission (FLEC) held its first quarterly meeting of the year. FLEC is comprised of the heads of 20 federal agencies, including the National Credit Union Administration (NCUA), Consumer Financial Protection Bureau (CFPB), and other financial regulators.

Posted By Sharon Bahr read more

Update On CUNA Materials on Ability to Repay/QM Rule

Feb
19
Update On CUNA Materials on Ability to Repay/QM Rule

The Credit Union National Association (CUNA) posted a Final Rule Analysis on the Consumer Financial Protection Bureau's (CFPB) Ability-to-Repay and Qualified Mortgages rule. Of significance, the CUNA Final Rule Analysis includes a quick summary and a new section regarding “CUNA’s Initial Take on the Impact of the Rule.” In that section, we briefly address some positive issues as well as concerns about the implementation of the rule.

Posted By Sharon Bahr read more

MCUA Files Comment Letter on CFPB Trial Disclosure Programs

Feb
19
MCUA Files Comment Letter on CFPB Trial Disclosure Programs

On February 15, 2013, the Missouri Credit Union Association (MCUA) filed a Comment Letter with the Consumer Financial Protection Bureau (CFPB) on the agency’s proposed policy to encourage trial disclosure programs.

Posted By Sharon Bahr read more

Cybersecurity Executive Order and Policy Directive

Feb
19
Cybersecurity Executive Order and Policy Directive

The White House released an Executive Order (EO) on critical infrastructure cybersecurity and a Presidential Policy Directive (PPD) on critical infrastructure security and resilience.

Posted By Sharon Bahr read more

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