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CFPB Extends Comment Dates for “Finance Charge” And HOEPA Proposed Changes

Sep
04

The Consumer Financial Protection Bureau (CFPB) has delayed the comment deadline from September 7 to November 6 for two important proposals, one on the definition of “finance charge” under the “Know Before You Owe” combined Truth-in-Lending and Real Estate Settlement Procedure Act forms proposal, and the other to implement changes to Regulation Z under the Home Ownership and Equity Protection Act (HOEPA) as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Posted By Halley Hayden read more

Missouri Credit Unions Asked to Respond to CFPB International Remittance Transfer Rule

Aug
31

Missouri Credit Unions Asked to Respond to CFPB International Remittance Transfer Rule

Missouri credit unions have an opportunity to weigh in on the Consumer Financial Protection Bureau’s (CFPB) final rule on international remittance transfers.  CFPB Director Richard Cordray has asked the Credit Union National Association (CUNA) to assemble a working group that will meet with him in-person to discuss the rule and its impact on credit unions. 

Posted By Amy McLard read more

Missouri CDFI Efforts Shared with U.S. Rep. Emerson

Aug
31

Missouri CDFI Efforts Shared with U.S. Rep. Emerson

The latest efforts by Missouri credit unions to obtain Community Development Financial Institutions (CDFI) certification are welcome news for U.S. Rep. Jo Ann Emerson (R-District 8).   

Posted By Amy McLard read more

Kansas City Credit Unions Share Federal Legislative Concerns

Aug
27

Kansas City Credit Unions Share Federal Legislative Concerns
Upcoming Meeting Opportunities Statewide

Representatives from credit unions in the Kansas City region shared key federal concerns with U.S. Rep. Sam Graves’ (R-District 6) staff during an in-district meeting.  Melissa Roe, Deputy Chief of Staff for Congressman Graves, met with eleven leaders from six credit union organizations at CommunityAmerica Credit Union on August 24.

Posted By Amy McLard read more

CFBP Rulemaking Chart Available

Aug
27

Credit union representatives now have access to a chart  that highlights various rulemaking projects that are being undertaken by the Consumer Financial Protection Bureau (CFPB). The projects are required by the Dodd-Frank Act. The chart covers topics like Reg Z, Appraisals, Reg B and more. 

A CUNA username and password is required to access the chart. 

Posted By Sharon Bahr read more

Comment Letter Seeks FDIC Clarification

Aug
27

The Credit Union National Association (CUNA) is seeking clarification in a comment letter to the Federal Deposit Insurance Corporation (FDIC) that credit unions should not be covered under a new proposal the FDIC has issued regarding liquidation authority over entities engaging in financial activities.  The proposal was developed under Title II of the Dodd-Frank Act.  In the comment letter, CUNA emphasizes that credit unions should not be considered entities subject to the proposed definition of “predominantl

Posted By Sharon Bahr read more

FASB Issues Proposed Standard on Disclosures

Aug
27

The Financial Accounting Standards Board (FASB) has issued a proposed standard that is intended to help financial statement users better understand organizations’ exposure to liquidity risk and interest rate risk.

Posted By Sharon Bahr read more

CFPB's TILA/RESPA Proposed Rule

Aug
27

The Consumer Financial Protection Bureau (CFPB) has issued its proposed rule to formally combine certain disclosures required under both the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA), as required under the Dodd-Frank Wall Street Reform and Consumer Protection Act.  

Posted By Sharon Bahr read more

Short Sales Requirements Effective November 1

Aug
27

Pending mortgage-servicing requirements that will consolidate and coordinate existing short sale programs into a single standard program could be beneficial to consumers and mortgage lenders but raise important questions, including for credit unions.

Posted By Sharon Bahr read more

Conference Call with CFPB's Richard Cordray - Thursday, August 30

Aug
27

Credit unions have an opportunity to hear directly from Consumer Financial Protection Bureau (CFPB) Director Richard Cordray during an audio conference call to specifically address key concerns and issues. He will address issues of primary concern to credit unions and take questions.

Posted By Sharon Bahr read more

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