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CUNA Advocacy report

CUNA Comments to NACHA on ACH Security Framework Proposal

Jul
07
CUNA Comments to NACHA on ACH Security Framework Proposal

The week of June 18, 2012, the Credit Union National Association (CUNA) submitted a comment letter to NACHA – The Electronic Payments Association regarding their ACH security framework proposal.  In CUNA's letter, they urged NACHA to minimize compliance costs on all credit unions and minimize redundancy with ot

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CFPB Request for Information on Reverse Mortgages and Report to Congress

Jul
06
CFPB Request for Information on Reverse Mortgages and Report to Congress

On June 28, the Consumer Financial Protection Bureau (CFPB) issued a request for information on reverse mortgages.  The agency also released a report to Congress regarding its research on reverse mortgages, as required by the Dodd-Frank Act.  The CFPB has rulemaking authority to implement federal consumer financial laws, including the Truth in Lending Act

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CUNA Meets with the Consumer Financial Protection Bureau

Jul
06
CUNA Meets with the Consumer Financial Protection Bureau

On June 25, the Credit Union National Association's (CUNA) Regulatory Advocacy group met with top officials of the Consumer Financial Protection Bureau's (CFPB) regulatory division to discuss a range of issues of concern to credit unions.  Leading off with serious concerns about the direction the agency may be going in regulation of overdraft issues, CUNA previewed its comment lette

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CUNA Files Comments on CFPB's Data Collection of Overdraft Protection

Jul
05
CUNA Files Comments on CFPB's Data Collection of Overdraft Protection

On June 29, the Credit Union National Association (CUNA) filed a comment letter with the Consumer Financial Protection Bureau (CFPB) in response to its request for information on overdraft protection programs and practices.

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Update on Projected Corporate Stabilization Fund Assessments

Jul
04
Update on Projected Corporate Stabilization Fund Assessments

The most important implication for credit unions of the new Temporary Corporate Credit Union Stabilization Fund (TCCUSF) financial statements, combined with the updated information posted June 29 by the National Credit Union Administration (NCUA) on its website on Corporate System Resolution Costs, is what it says about the likely remaining assessments for that fund, said Credit Union National Association (CUNA) Chief Economist Bill Hampel in a recent analysis.

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NCUA's Board Agenda for July Will Be Hefty

Jul
03
NCUA's Board Agenda for July Will Be Hefty

National Credit Union Administration's (NCUA) July Board meeting will have a weighty agenda, particularly compared to previous months such as June when there was no open board meeting.  NCUA has not released the official agenda yet (the agency is required by law to publish the agenda a week before the meeting). 

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NCUA Delays Advancement of Loan Participations* as well as CUSO Proposals

Jul
02
NCUA Delays Advancement of Loan Participations* as well as CUSO Proposals

Following up on the positive development from the week June 18 regarding the delay of a new final rule on credit union service organizations (CUSOs), National Credit Union Administration (NCUA) Board Chairman Debbie Matz announced last week at a meeting of the Credit Union Association of the Dakotas that she is also postponing consideration of a final rule on loan participations.  W

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Interagency Mortgage Servicing Guidance Issued

Jun
30
Interagency Mortgage Servicing Guidance Issued

The Federal Reserve Board (Fed) joined together with the Consumer Financial Protection Bureau (CFPB), NCUA, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency to issue guidance relating to certain mortgage servicing practices.  Specifically, the guidance addresses risks related to military homeowners who have informed their loan servicer that they have received Permanent Change of Station (PCS) orders and who might seek assistance with their mortgage loans.

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Information from NCUA on Fair Lending Examinations

Jun
29
Information from NCUA on Fair Lending Examinations

Recently, CUNA Regulatory Advocacy staff had an opportunity to talk with National Credit Union's (NCUA) Kent Buckham and Moisette Sweat, top personnel in the agency’s Office of Consumer Protection (OCP), about fair lending examinations. 

Questions/Answers on Fair Lending

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NCUA Letter to Credit Union on Transition of ACH Services

Jun
29
NCUA Letter to Credit Union on Transition of ACH Services

The National Credit Union Administration (NCUA) issued a letter to credit unions to provide an update on the transition of US Central Bridge Corporate’s ACH services.  All other correspondent services offered by US Central Bridge have already been wound down, according to the letter.  The letter f

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