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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. 

Posted By Sharon Bahr read more

Foreclosure Mediation Ordinance Takes Effect in St. Louis County

Nov
16

A new ordinance requiring financial institutions to participate in a mediation process before proceeding with residential real estate foreclosure actions is now in effect in St. Louis County.   A temporary restraining order (TRO) delayed implementation of the ordinance, but it was lifted on November 14.  The judge ruled that the county had the authority to enact the ordinance.

The restraining order was issued at the request of the Missouri Bankers Association (MBA).  The MBA plans to appeal this ruling, and additional pleadings are already filed in the case.

Posted By Amy McLard read more

FFIEC Supervision of Technology Service Providers

Nov
16

The Federal Financial Institutions Examination Council (FFIEC) has recently released a revised Supervision of Technology Service Providers booklet, which is part of the FFIEC Information Technology Examination Handbook.  The updated booklet provides guidance for examiners and financial institutions regarding the supervision of technology service providers.  Also, the Federal Reserve Board, FDIC, and OCC released related administrative guidelines on their

Posted By Sharon Bahr read more

FHFA Fee Input Needed

Nov
16

FHFA Proposes Adjustment to State-Level Guarantee Fee Pricing

Posted By Sharon Bahr read more

MCUA Urges Changes to CFPB's TILA-RESPA Rule

Nov
15

On November 6, 2012, the Missouri Credit Union Association (MCUA) filed a comment letter with the Consumer Financial Protection Bureau (CFPB) on the agency’s proposed rule to amend Regulation Z, Truth in Lending Act (TILA), and Regulation X, the Real Estate Se

Posted By Sharon Bahr read more

MCUA Offers Suggestions on CFPB's HOEPA Proposal

Nov
15

comment letter filed by the Missouri Credit Union Association (MCUA) with the Consumer Financial Protection Bureau (CFPB) addressed its proposed rule to amend Regulation Z to reflect changes to the Home Ownership Equity Protection Act (HOEPA) made under the Dodd-Frank Act.

Posted By Sharon Bahr read more

Comments Filed on CFPB's Finance Charge Proposal

Nov
15

On November 6, 2012, the Missouri Credit Union Association (MCUA) filed a comment letter with the Consumer Financial Protection Bureau (CFPB).

Posted By Sharon Bahr read more

CU Champions Sweep Missouri Races

Nov
07

All four candidates endorsed by the Missouri Credit Union Association (MCUA) as 2012 Credit Union Champions won their respective races on Tuesday, Nov. 6, 2012. Champions include:

Posted By abucaida@mcua.org read more

NACHA Introduces ACH Network Risk Management Strategy

Nov
07

NACHA – The Electronic Payments Association recently released its automated clearinghouse (ACH) risk management strategy.  The updated strategy is intended to balance risk with innovation for payments on the ACH network, and to allow for opportunities and efficient applications, while ensuring the quality and integr

Posted By Sharon Bahr read more

Reserve Requirements and Federal Reserve Update

Nov
07

The Federal Reserve Board (Board) has delayed the implementation of the second phase of its program to simplify reserve requirement administration until June 27, 2013.  The delay aims to provide further development and testing of automated systems to ensure a smooth transition for affected depository institutions.

Posted By Sharon Bahr read more

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