The Fed, OCC, and the FDIC have issued three notices of proposed rulemaking, to revise and replace the agencies' current capital rules. The first two proposed capital rules would apply to all banks and savings associations, bank holding companies with more than $500 million in assets, and savings and loan holding companies in the U.S. One of the proposals would revise risk-based and leverage capital requirements consistent with Basel III agreements; a second proposal would revise the
The Credit Union National Association (CUNA) submitted a comment letter last week to the Consumer Financial (CFPB) and the Office of Management and Budget (OMB) on the CFPB’s plans to collect information on compliance costs and other effects of its potential new regulations, including those required under the D
A Texas community bank, The State National Bank of Big Spring, has announced it plans to file a lawsuit challenging the constitutionality of the Consumer Financial Protection Bureau (CFPB). The Competitive Enterprise Institute and the 60 Plus Association are reportedly joining the bank as co-plaintiffs. In its press release, the bank stated that the lawsuit was to be file
On June 12, the Credit Union National Association (CUNA) was briefed by the Consumer Financial Protection Bureau (CFPB) staff at the agency’s headquarters in Washington regarding the Consumer Complaint Database on credit card issues, which became available to the public. As of now, the database does no
The National Credit Union Administration's (NCUA) decision not to go forward with a final CUSO rule was one of the best it has made in a long time – consistent with its new approach on Troubled Debt Restructurings (TDRs).
Several credit union leaders who spoke at the NCUA “Listening Session” in Orlando, FL last week said they are seeing improvements with their examiners, although some concerns about the examination process remain. About 80 people attended the session; most were from Florida but credit unions from Alabama, Kentucky, South Carolina, North Carolina, and Ohio were among those attending.