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CFPB Requesting Additional Data on Mortgage Lending

Jul
10

The Consumer Financial Protection Bureau (CFPB) is requesting additional data on mortgage lending in conjunction with its rulemaking efforts on the ability to repay proposal.   Credit Union National Association (CUNA) requested an extension of this comment period, set to expire Monday, and they have additi

Posted By Sharon Bahr read more

ATM Disclosure Bill Passes U.S. House 371-0

Jul
10

ATM Disclosure Bill Passes U.S. House 371-0

The U.S. House of Representatives overwhelmingly approved the ATM disclosure bill, H.R. 4367, by a vote of 371-0 on July 9.  H.R. 4367 and its Senate counterpart, S. 3204, would eliminate the EFTA requirement for a physical ATM fee disclosure notice.  Instead, only an electronic disclosure on the screen regarding any fee that may be incurred by the ATM user would be required.

Now that the bill has passed the House, it must be voted on by the Senate to move forward.

Posted By Amy McLard read more

NCUA's 2011 Annual Report

Jul
10

The National Credit Union Administration (NCUA) released its 2011 Annual Report the week of July 2, 2012. Several issues are worthy of note:

Posted By Sharon Bahr read more

CUNA Comments to NACHA on ACH Security Framework Proposal

Jul
07

The week of June 18, 2012, the Credit Union National Association (CUNA) submitted a comment letter to NACHA – The Electronic Payments Association regarding their ACH security framework proposal.  In CUNA's letter, they urged NACHA to minimize compliance costs on all credit unions and minimize redundancy with ot

Posted By Sharon Bahr read more

Meeting Opportunity with State Treasurer Clint Zweifel

Jul
06

Missouri credit union representatives have an opportunity to meet with and support credit union friend and Missouri Treasurer Clint Zweifel.  He is holding an open house event at Blue Springs Country Club on July 26.  The informal event allows attendees to visit with Treasurer Zweifel, introduce yourself and your credit union, and thank him for his support of cre

Posted By Halley Hayden read more

CFPB Request for Information on Reverse Mortgages and Report to Congress

Jul
06

On June 28, the Consumer Financial Protection Bureau (CFPB) issued a request for information on reverse mortgages.  The agency also released a report to Congress regarding its research on reverse mortgages, as required by the Dodd-Frank Act.  The CFPB has rulemaking authority to implement federal consumer financial laws, including the Truth in Lending Act

Posted By Sharon Bahr read more

CUNA Meets with the Consumer Financial Protection Bureau

Jul
06

On June 25, the Credit Union National Association's (CUNA) Regulatory Advocacy group met with top officials of the Consumer Financial Protection Bureau's (CFPB) regulatory division to discuss a range of issues of concern to credit unions.  Leading off with serious concerns about the direction the agency may be going in regulation of overdraft issues, CUNA previewed its comment lette

Posted By Sharon Bahr read more

Overdraft Lawsuits Hit California

Jul
05

Vexing, cookie-cutter lawsuits are not only aimed at ATM disclosures according to the Credit Union National Association (CUNA).

Posted By Halley Hayden read more

CUNA Files Comments on CFPB's Data Collection of Overdraft Protection

Jul
05

On June 29, the Credit Union National Association (CUNA) filed a comment letter with the Consumer Financial Protection Bureau (CFPB) in response to its request for information on overdraft protection programs and practices.

Posted By Sharon Bahr read more

Update on Projected Corporate Stabilization Fund Assessments

Jul
04

The most important implication for credit unions of the new Temporary Corporate Credit Union Stabilization Fund (TCCUSF) financial statements, combined with the updated information posted June 29 by the National Credit Union Administration (NCUA) on its website on Corporate System Resolution Costs, is what it says about the likely remaining assessments for that fund, said Credit Union National Association (CUNA) Chief Economist Bill Hampel in a recent analysis.

Posted By Sharon Bahr read more

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