Legal Briefs

National Credit Union Administration (NCUA)

The NCUA released a Board Action Bulletin following the June 16 meeting.

Consumer Financial Protection Bureau (CFPB)

The CFPB issued a press release detailing their framework for working with the Conference of State Bank Supervisors during supervision and enforcement matters.

The CFPB issued a fine rule that clarifies the 2013 Escrow final rule. The new final rule was issued to help clarify that certain consumer protections that will remain in effect and also release the final 2013 rural or underserved counties list.

The CFPB issued a proposed rule that would extend the current rule allowing the CFPB to gather data relating to credit card pricing and availability from financial institutions. The proposed rule would not substantially change any of the current data gathering practices.

Federal Reserve Board (FRB)

The June 2013 HOEPA rates have been established.

The FRB stated that the minutes from the most recent Federal Open Market Committee (FOMC) meeting have been posted.

Federal Deposit Insurance Corporation (FDIC)

The FDIC has published the Spring 2013 issue of its Consumer News newsletter.

US Department of the Treasury (Treasury)

Treasury Secretary Jacob Lew delivered testimony before the Senate Committee on Banking, Housing, and Urban Affairs, regarding the Financial Stability Oversight Council Annual Report to Congress.

Office of Foreign Assets Control (OFAC)

OFAC has updated the SDN list as of May 16, 2013. The last update prior to this was May 15, 2013.


Questions? Contact the Compliance Hotline: 1.800.546.4465,

Posted in Advocacy News, Around the NW, Compliance News, Federal, NCUA, NWCUA.