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CUNA Advocacy report

Report on NCUA's Exam & Complaint Process

Sep
17

The Office of Inspector General (OIG) at the National Credit Union Administration (NCUA) has issued a report on the agency’s examination and complaint processes.

Posted By Sharon Bahr read more

CUNA to CFPB: Craft Qualified Mortgage Final Rule Carefully

Sep
17

The Credit Union National Association (CUNA), along with other financial trade associations, sent a letter to Director Cordray and the Consumer Financial Protection Bureau (CFPB) regarding the Qualified Mortgage requirements under the Bureau’s pending Ability to Repay Rule.  In the letter, CUNA urged the agency to broadly define the Qualified Mortgage definition, and to provide a legal safe harbor for mortgage lenders from ability to repay litigation when they originate loans that meet the Qualified Mortgage standards.  They also urged the Bureau to develop objective, bright

Posted By Sharon Bahr read more

CFBP Rulemaking Chart Available

Aug
27

Credit union representatives now have access to a chart  that highlights various rulemaking projects that are being undertaken by the Consumer Financial Protection Bureau (CFPB). The projects are required by the Dodd-Frank Act. The chart covers topics like Reg Z, Appraisals, Reg B and more. 

A CUNA username and password is required to access the chart. 

Posted By Sharon Bahr read more

Comment Letter Seeks FDIC Clarification

Aug
27

The Credit Union National Association (CUNA) is seeking clarification in a comment letter to the Federal Deposit Insurance Corporation (FDIC) that credit unions should not be covered under a new proposal the FDIC has issued regarding liquidation authority over entities engaging in financial activities.  The proposal was developed under Title II of the Dodd-Frank Act.  In the comment letter, CUNA emphasizes that credit unions should not be considered entities subject to the proposed definition of “predominantl

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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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Short Sales Requirements Effective November 1

Aug
27

Pending mortgage-servicing requirements that will consolidate and coordinate existing short sale programs into a single standard program could be beneficial to consumers and mortgage lenders but raise important questions, including for credit unions.

Posted By Sharon Bahr read more

Conference Call with CFPB's Richard Cordray - Thursday, August 30

Aug
27

Credit unions have an opportunity to hear directly from Consumer Financial Protection Bureau (CFPB) Director Richard Cordray during an audio conference call to specifically address key concerns and issues. He will address issues of primary concern to credit unions and take questions.

Posted By Sharon Bahr read more

CUNA Comments on CFPB Senior Financial Exploitation Request

Aug
27

On August 20, Credit Union National Association (CUNA) submitted a comment letter to the Consumer Financial Protection Bureau (CFPB) on its request for information on senior financial exploitation.  In the comment letter, CUNA supports efforts by the CFPB to help seniors avoid financial exploitation and to encourage responsible decisions regarding financial management.  Credit unions offer a broad range of financial services to meet th

Posted By Sharon Bahr read more

CFPB Roundtable Meeting On TILA/RESPA/HOEPA Proposals

Aug
27

The Consumer Financial Protection Bureau (CFPB) recently held a roundtable meeting to discuss the proposed rule and forms to combine certain disclosures required under the Real Estate Settlement Procedures Act (RESPA) with disclosures required under the Truth in Lending Act (TILA), as well as the proposed rule to implement recent changes to the Home Ownership and Equity Protection Act (HO

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