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Credit Unions Invited to Attend CFPB Consumer Advisory Board Inaugural Meeting on Sept. 27

Sep
19
Credit Unions Invited to Attend CFPB Consumer Advisory Board Inaugural Meeting on Sept. 27

CFPB Consumer Advisory Board Inaugural Meeting on Thursday, September 27 – St. Louis

Missouri credit union leaders are invited to attend the Consumer Financial Protection Bureau (CFPB)’s Inaugural Meeting of its Consumer Advisory Board on Thursday, September 27, 2012 in St. Louis, Missouri.

Here are the meeting details:

Posted By Amy McLard read more

FTC Guide: Advertising & Privacy for Mobile Apps

Sep
17
FTC Guide: Advertising & Privacy for Mobile Apps

The Federal Trade Commission (FTC) has recently published a guide entitled, "Marketing Your Mobile App: Get It Right from the Start," to assist mobile application developers in complying with federal advertising and privacy requirements.  The guidelines include recommendations on truthful advertising, clear and conspicuous disclosures, and privacy consid

Posted By Sharon Bahr read more

Impact of Dodd-Frank on Safety and the Soundness of MBLs

Sep
17
Impact of Dodd-Frank on Safety and the Soundness of MBLs

The Government Accountability Office (GAO) issued a report on September 13, 2012, on the impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act on Credit Unions and Community Banks. The report basically concludes that it is too early to tell what the total impact of the Act’s provisions on credit unions and community banks will be.

Posted By Sharon Bahr read more

FHFA, Fannie Mae & Freddie Mac Announce New Framework

Sep
17
FHFA, Fannie Mae & Freddie Mac Announce New Framework

On Tuesday, September 11, 2012, the Federal Housing Finance Agency announced that Fannie Mae and Freddie Mac are starting a new representation and warranty framework for conventional loans sold or delivered on or after January 1, 2013.  The new initiative, according to the FHFA, is aimed to clarify lenders’ repurchase exposure and liability on future loan deliveries.  Under the framework:

Posted By Sharon Bahr read more

CFPB News and Updates

Sep
17
CFPB News and Updates

The following articles relate to recent updates from the Consumer Financial Protection Bureau (CFPB). 

CFPB's Director Testifies Before Senate Banking Committee

Posted By Sharon Bahr read more

Report on NCUA's Exam & Complaint Process

Sep
17
Report on NCUA's Exam & Complaint Process

The Office of Inspector General (OIG) at the National Credit Union Administration (NCUA) has issued a report on the agency’s examination and complaint processes.

Posted By Sharon Bahr read more

CUNA to CFPB: Craft Qualified Mortgage Final Rule Carefully

Sep
17
CUNA to CFPB: Craft Qualified Mortgage Final Rule Carefully

The Credit Union National Association (CUNA), along with other financial trade associations, sent a letter to Director Cordray and the Consumer Financial Protection Bureau (CFPB) regarding the Qualified Mortgage requirements under the Bureau’s pending Ability to Repay Rule.  In the letter, CUNA urged the agency to broadly define the Qualified Mortgage definition, and to provide a legal safe harbor for mortgage lenders from ability to repay litigation when they originate loans that meet the Qualified Mortgage standards.  They also urged the Bureau to develop objective, bright

Posted By Sharon Bahr read more

MCUA Hosts Fundraiser for Representative Sheila Solon

Sep
14
MCUA Hosts Fundraiser for Representative Sheila Solon

The Missouri Credit Union Association’s (MCUA) Jefferson City office hosted a fundraiser on behalf of State Representative Sheila Solon (R – District 55) on Tuesday September 11, 2012.  More than 30 friends and supporters of the Representative visited the MCUA office throughout the evening.  

Posted By Sharon Bahr read more

Credit Unions Highlight Access to Capital for Small Business

Sep
10
Credit Unions Highlight Access to Capital for Small Business

Attention on Capitol Hill will focus on credit union member business lending this week, and Missouri credit unions have the opportunity to take part.

Posted By Amy McLard read more

FHFA Announces Increase in Guarantee Fees

Sep
10
FHFA Announces Increase in Guarantee Fees

The Federal Housing Finance Agency recently announced that it has directed Fannie Mae (FNMA) and Freddie Mac (FHLMC) to raise guarantee fees on single-family mortgages by an average of 10 basis points (bps). For loans exchanged for mortgage-backed securities, the increase will be effective with settlements starting December 1, 2012.

Posted By abucaida@mcua.org read more

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