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CUNA Seeks Feedback on CFPB's Proposed International Remittance Transfers Rule

May
02

The Credit Union National Association (CUNA) is seeking credit union feedback to their Regulatory Call to Action through May 12 on the Consumer Financial Protection Bureau's (CFPB’s) recent proposed rule to modify its international remittance transfers rule. CUNA contin

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Opportunity to Voice Concerns to FASB in Effort to Improve Proposal on Credit Losses

Mar
18

Credit unions in Missouri are urged to share their input with the Credit Union National Association (CUNA) as it develops a comment letter to the Financial Accounting Standards Board (FASB) about its proposal regarding financial reporting of expected credit losses on loans and other financial assets.

The proposed model would utilize a single “expected loss” measurement for the recognition of credit losses. This would replace the multiple existing impairment models in U.S. generally accepted accounting principles (GAAP) that primarily use an “incurred loss” approach.

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CFPB Updates - 3/11/2013

Mar
11

Here are the current Consumer Financial Protection Bureau updates as of March 11, 2013:

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CFPB Survey

Feb
25

The Credit Union National Association (CUNA) will soon post a comment call that seeks information from credit unions on services specifically marketed to higher education students.

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MCUA Files Comments with CFPB Regarding CARD Act

Feb
19

On February 19, 2013, the Missouri Credit Union Association (MCUA)  filed a comment letter with the Consumer Financial Protection Bureau (CFPB) in response to its request for information regarding certain aspects of the consumer credit card market, including regul

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CUNA Seeks Comments on NCUA's "Small Entity" Proposal

Oct
24

The Credit Union National Association (CUNA) continues to seek comments on the National Credit Union Administration's (NCUA) “small entity” proposal, and has also requested a 30-day extension of the comment period so that credit unions can provide more complete feedback and information.  NCUA’s proposal would amend the agency’s definition of a "small entity," by increasing the asset threshold from $10 million to $30 million.

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CFBP Mortgage Servicing Proposal Concerns

Oct
02

Credit Union National Association (CUNA) staff continue to draft comment letters to the Consumer Financial Protection Bureau (CFPB) concerning the proposed mortgage servicing rules that will amend Regulation Z and Regulation X.  Below are a few items contained within the proposals that may be of heightened concern for credit unions:

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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.

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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.  

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CFPB Proposed Rule on Appraisals & Valuations

Aug
20

The Consumer Financial Protection Bureau (CFPB) proposed a new rule on appraisals and valuations.  General comments are due by October 15, 2012, and the CFPB is required to finalize the rule not later than January 21, 2013.  The proposed rule would amend Regulation B, which implements the Equal Credit Opportunity Act and would apply to applications for credit where the loan would be secured by a first lien on a dwelling. 

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