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CUNA Advocacy report

NCUA National Supervisory Policy Manual

Oct
02
NCUA National Supervisory Policy Manual

The National Credit Union Administration (NCUA) will likely release significant portions of the Supervisory Policy Manual next month, according to reliable sources at NCUA. This is not an examiners’ guide but rather a catalogue of the agency’s supervisory policies.

Posted By Sharon Bahr read more

Comment to NACHA on ACH Technical Changes

Oct
02
Comment to NACHA on ACH Technical Changes

A comment letter was filed by the Missouri Credit Union Association (MCUA)  and the Credit Union National Association (CUNA) to NACHA – The Electronic Payments Association – regarding their compliance and operational topics proposal.  CUNA generally supports the proposal to clarify the meaning or

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Maintaining Access to Emergency Liquidity

Oct
02

Another comment letter was filed by the Missouri Credit Union Association (MCUA) and the Credit Union National Association (CUNA) with the National Credit Union Administration (NCUA) regarding proposed changes to emergency liquidity from the Central Liquidity Facility (CLF).

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NCUA Proposal On Troubled Condition Designation for State CUs

Oct
01

The Credit Union National Association (CUNA) feels the National Credit Union Administration's (NCUA) proposal that would allow it to designate a state credit union as a CAMEL 4 or 5, and in “troubled condition”  even if the state regulator does not agree is ill-conceived, unjustified and will not significantly further any material safety and soundness goals. That is what CUNA's letter filed on September 28, 2012 said. 

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CFPB Study and Remittance Transfers Update

Oct
01
CFPB Study and Remittance Transfers Update

Consumer Financial Protection Bureau Study Finds Credit Scores Used by Consumers and Lenders Can Differ

On September 25, 2012, the Consumer Financial Protection Bureau (CFPB) released a study comparing credit scores sold to creditors and those sold to consumers. The study found that about one out of five consumers would likely receive a meaningfully different score than would a lender. The study determined the following:

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FinCEN Summary of Customer Due Diligence Proposal Hearing

Sep
20

The Financial Crimes Enforcement Network (FinCEN) has released its summary and prepared remarks from its July 2012 public hearing regarding the agency’s advance notice of proposed rulemaking (ANPR) on customer due diligence (CDD) requirements for financial institutions, including credit unions.  Credit Union National Association (CUNA) staff attended the hearing, and the Missouri Credit Union Association (MCUA) submitted a comment letter on May 4, 2012.

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FTC Guide: Advertising & Privacy for Mobile Apps

Sep
17
FTC Guide: Advertising & Privacy for Mobile Apps

The Federal Trade Commission (FTC) has recently published a guide entitled, "Marketing Your Mobile App: Get It Right from the Start," to assist mobile application developers in complying with federal advertising and privacy requirements.  The guidelines include recommendations on truthful advertising, clear and conspicuous disclosures, and privacy consid

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Impact of Dodd-Frank on Safety and the Soundness of MBLs

Sep
17

The Government Accountability Office (GAO) issued a report on September 13, 2012, on the impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act on Credit Unions and Community Banks. The report basically concludes that it is too early to tell what the total impact of the Act’s provisions on credit unions and community banks will be.

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FHFA, Fannie Mae & Freddie Mac Announce New Framework

Sep
17
FHFA, Fannie Mae & Freddie Mac Announce New Framework

On Tuesday, September 11, 2012, the Federal Housing Finance Agency announced that Fannie Mae and Freddie Mac are starting a new representation and warranty framework for conventional loans sold or delivered on or after January 1, 2013.  The new initiative, according to the FHFA, is aimed to clarify lenders’ repurchase exposure and liability on future loan deliveries.  Under the framework:

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CFPB News and Updates

Sep
17
CFPB News and Updates

The following articles relate to recent updates from the Consumer Financial Protection Bureau (CFPB). 

CFPB's Director Testifies Before Senate Banking Committee

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