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CFPB News and Updates - 12/21/2012

Dec
26
CFPB News and Updates - 12/21/2012

Consumer Financial Protection Bureau Issues New Proposal on International Remittances

Posted By Sharon Bahr read more

FASB Proposes Changes to Calculation of Credit Losses for Financial Instruments

Dec
21

 

The Financial Accounting Standards Board (FASB) issued a proposed accounting standards update regarding financial reporting of expected credit losses on loans and other financial assets held by financial institutions, including credit unions on December 20.

Posted By Halley Hayden read more

FTC Finalizes Amendments to Children's Online Privacy Protection

Dec
21

Earlier this week, the Federal Trade Commission (FTC) finalized amendments to the Children’s Online Privacy Protection rule, which implements the Children’s Online Privacy Protection Act of 1998 (COPPA).  The COPPA rule provides for privacy protections and gives parents greater control over the personal information that websites and online services may collect from children under the age of 13. 

Posted By Sharon Bahr read more

NCUA Plans to Change Examination Notices

Dec
21
NCUA Plans to Change Examination Notices

The National Credit Union Administration (NCUA) is “making some major changes in its examination-related documents.” That is what NCUA Deputy Director of Examination and Insurance Tim Segerson told the Credit Union National Association's (CUNA) Examination and Supervision Subcommittee.  These actions are designed to “help credit unions understand why examiners do what they do, set a baseline for everyone to follow, and to help credit unions

Posted By Sharon Bahr read more
Posted By Halley Hayden read more

NCUA Making Major Changes in Examination-Related Documents

Dec
21
NCUA Making Major Changes in Examination-Related Documents

The National Credit Union Administration (NCUA) is “making some major changes in its examination-related documents.” That is what NCUA Deputy Director of Examination and Insurance Tim Segerson told Credit Union National Association's (CUNA) Examination and Supervision Subcommittee.  These actions are designed to “help credit unions understand why examiners do what they do, set a baseline for everyone to follow, and to help credit unions get

Posted By Sharon Bahr read more

ATM Disclosure Bill Signed by the President

Dec
21
ATM Disclosure Bill Signed by the President

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.

Posted By dkent read more

Missouri’s Congresswoman-Elect Ann Wagner Talks about House Financial Services Committee

Dec
20
Missouri’s Congresswoman-Elect Ann Wagner Talks about House Financial Services Committee

Missouri Congresswoman-Elect Ann Wagner (R-District 2) is featured in a December 19 article in Politico about serving on the U.S.

Posted By Amy McLard read more

Federal Reserve Reviewing Liquidity Sources at Largest Banks

Dec
17
Federal Reserve Reviewing Liquidity Sources at Largest Banks

The Federal Reserve Board (Fed) is examining liquidity sources at some of the largest U.S.

Posted By Sharon Bahr read more

Treasury Settlement with HSBC Bank on BSA and OFAC Violations

Dec
17

The U.S. Department of the Treasury announced this week a collective settlement with HSBC Bank, reached by the Financial Crimes Enforcement Network (FinCEN), the Office of the Comptroller of the Currency (OCC), and the Office of Foreign Assets Control (OFAC), as part of a combined federal, local, and international government action.  It was the largest bank settlement regarding the Bank Secrecy Act (BSA) and sanctions in U.S.

Posted By Sharon Bahr read more

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