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CUNA Advocacy report

MFOEL Webinar August 15

Aug
06

A number of credit unions remain concerned about multi-featured open-end lending (MFOEL) following the issuance of National Credit Union Administration's (NCUA) letter to federal credit unions last month (NCUA Letter No. 12-FCU-02).

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NCUA Holds Final Listening Session

Aug
06

Chairman Matz addressed a number of issues at National Credit Union Administration's (NCUA) sixth and final listening session in Denver earlier in the week of July 30, such as concern

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NACHA Resource on FFIEC Internet Banking Authentication

Jul
27

On July 19, 2012, NACHA –The Electronic Payments Association released a resource for financial institutions regarding the implementation of the Federal Financial Institutions Examination Council (FFIEC) Internet Banking Authentication guidance from June 2011.  NACHA’s resource is intended to identify sound business practi

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FSOC "Systematically-Important" Financial Market Utilities; Fedwire & Payments System Risk

Jul
27

On July 18, 2012, the Financial Stability Oversight Council (FSOC) issued a statement and designated eight “systemically important” financial market utilities (FMUs) that would be subject to heightened risk management standards.  Chairman Matz represents the National Credit Union Administration on the FSOC, which includes the U.S. Treasury, Federal Reserve Board, and other financial regulators.  However, the policies of the FSOC as currently developed do not apply to credit unions.

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CUNA Comment Letters

Jul
26

CUNA Comments on CFPB Proposal re Disclosure of Consumer Complaint Data

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GAO Study on SCRA Compliance

Jul
25

On July 17, 2012, the Government Accountability Office (GAO) published a report entitled "Mortgage Foreclosures:  Regulatory Oversight of Compliance with S

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CFPB Posts Its Semi-Annual Regulatory Agenda

Jul
23

Early during the week of July 16, 2012, the Consumer Financial Protection Bureau (CFPB) posted its semi-annual update of its rulemaking agenda.  The last one that was published was the Fall 2011 agenda, which was made public in January.

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CUNA Urges NCUA to Exercise Restraint at July Meeting

Jul
23

Credit Union National Association (CUNA) has reinforced its strongest support for the National Credit Union Administration's (NCUA) delay of the Credit Union Service Organization (CUSO) and loan participation proposals, and appreciate that these items are not on the July 24, 2012 Board Meeting agenda. CUNA will continue advocating that the agency abandon these proposals.

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CFPB Proposes New RESPA/TILA Rule and Disclosure

Jul
19

The Consumer Financial Protection Bureau (CFPB) on July 9, 2012 issued its much anticipated 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 required by the Dodd-Frank Act.  The proposal also addresses new disclosure requirements required by the D

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NCUA Holds a Listening Session in San Diego

Jul
18

The week of July 9, National Credit Union Administration (NCUA) Chairman Debbie Matz and staff held a listening session in San Diego to provide credit union officials in the region an opportunity to communicate their concerns to the agency.  She was accompanied by NCUA Executive Director Dave Marquis, Director of Examination and Insurance Larry Fazio, Region II Director Jane Walters

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