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Proposed Mortgage Servicing Rules Issued by CFPB

Aug
10
Proposed Mortgage Servicing Rules Issued by CFPB

The CFPB today issued two proposals to implement provisions in the Dodd-Frank Wall Street Reform and Consumer Protection Act regarding servicing of mortgage loans.

Posted By abucaida@mcua.org read more

Federal Reserve Reports on Mobile Payments Regulatory Landscape

Aug
10
Federal Reserve Reports on Mobile Payments Regulatory Landscape

In late July, the Federal Reserve Banks of Atlanta and Boston published a summary report on the mobile payments regulatory landscape.  The report covered the opportunities, challenges, and regulatory coverage of mobile payments.

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CUNA Presses NCUA for More Regulatory Relief

Aug
10
CUNA Presses NCUA for More Regulatory Relief

Last Friday, CUNA President/CEO BIll Cheney sent a letter to the NCUA Board regarding a number of issues on which he believes the agency should provide regulatory relief to credit unions. Click here for a copy of the letter.

Posted By abucaida@mcua.org read more

"Finance Charge" Changes Under CFPB's RESPA/TILA Proposed Rule

Aug
06
"Finance Charge" Changes Under CFPB's RESPA/TILA Proposed Rule

As part of the Consumer Financial Protection Bureau’s (CFPB) 1099-page proposed RESPA/TILA rule, the CFPB is proposing some significant changes to Section 1026.4 of Regulation Z which defines the “finance charge.”  Importantly, these proposed changes will result in a more inclusive finance charge, which, absent further action by the CFPB, will increase the number of closed-end mortga

Posted By Sharon Bahr read more

NCUA Letter to FCUs in the Works on Low-Income Designation

Aug
06
NCUA Letter to FCUs in the Works on Low-Income Designation

The National Credit Union Administration (NCUA) will soon be sending letters to nearly 1,000 credit unions indicating they are eligible for low-income designation, a status whose benefits include the ability to accept supplemental capital and an exemption from the small business lending cap under certain circumstances, NCUA Chairman Debbie Matz told league presidents attending the Americ

Posted By Sharon Bahr read more

FinCEN Public Hearing on the Customer Due Diligence ANPR

Aug
06
FinCEN Public Hearing on the Customer Due Diligence ANPR

On Tuesday, July 31, the U.S. Treasury Financial Crimes Enforcement Network’s (FinCEN’s) held a public hearing on the customer due diligence (CDD) Advance Notice of Proposed Rulemaking (ANPR) that was issued in March 2012.  The hearing included participants from the U.S.

Posted By Sharon Bahr read more

MFOEL Webinar August 15

Aug
06
MFOEL Webinar August 15

A number of credit unions remain concerned about multi-featured open-end lending (MFOEL) following the issuance of National Credit Union Administration's (NCUA) letter to federal credit unions last month (NCUA Letter No. 12-FCU-02).

Posted By Sharon Bahr read more

NCUA Holds Final Listening Session

Aug
06
NCUA Holds Final Listening Session

Chairman Matz addressed a number of issues at National Credit Union Administration's (NCUA) sixth and final listening session in Denver earlier in the week of July 30, such as concern

Posted By Sharon Bahr read more

CFPB Issues: CUNA's CHART and Advocacy

Aug
06
CFPB Issues: CUNA's CHART and Advocacy

Credit unions and leagues are very concerned about the number, scope, and heft of current and developing Consumer Financial Protection Bureau (CFPB) regulations. The Credit Union National Association (CUNA) shares those concerns.

Posted By Sharon Bahr read more

NACHA Resource on FFIEC Internet Banking Authentication

Jul
27
NACHA Resource on FFIEC Internet Banking Authentication

On July 19, 2012, NACHA –The Electronic Payments Association released a resource for financial institutions regarding the implementation of the Federal Financial Institutions Examination Council (FFIEC) Internet Banking Authentication guidance from June 2011.  NACHA’s resource is intended to identify sound business practi

Posted By Sharon Bahr read more

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