Warren Sees May Testing of Mortgage Forms

The CFPB will begin testing prototype model mortgage forms against existing laws, according to its head.

Legal Briefs

Your update on the regulatory landscape.

One-Quarter of NW Banks Still Problematic, say Rating Agencies

Bauer Financial and Highline Financial found that nearly 30 percent of Washington-based banks and 22 percent of Oregon-based banks are considered problematic or troubled.

Federal Legislative Week in Review

It is all interchange, interchange, interchange as state and national associations push Congress to stop the Durbin Amendment from being implemented as is. Member credit unions are being asked to use social media and mobilize their membership in the effort.

Oregon Legislative Week in Review

This week is the halfway point of the 2011 session and bills must be moved before certain deadlines or else they are dead for this session. The Association’s Credit Union Modernization bill, Senate Bill 177, met its deadline and is moving forward.

Washington Legislative Week in Review

The prize-linked savings bill is going to the Governor, while many tax exemption proposals are being proposed in an effort to close the budget deficit.

CUNA Regulatory Advocacy Report

The most recent update from CUNA on Regulatory Advocacy activities.

Fed Increases Jumbo Mortgage Escrow Threshold

While the Fed increased the APR threshold, CUNA notes that credit unions have the option to continue to follow the lower threshold that applied prior to the change.

Compliance Question of the Week

Am I required to ‘display’ the individual NMLS identifier number of our MLOs?

Don’t Let Your Members be Misled on Interchange

Member Access Pacific encourages credit unions to reach out to their members and lawmakers concerning interchange regulations.

Northwest Credit Unions Step Up Interchange Battle, Urging Members to Join Fight

Pushing for a delay in implementing the Durbin Amendment, the Association and its members are reaching out to Congress through grassroots, editorials, social media, and advertising.

WA Bill Would Limit Bank B&O Tax Exemption

Legislation is moving in Olympia to close down an important bank tax exemption, while a citizen initiative that would end all Washington State tax exemption is looking for signatures.

Credit Union Implements Board Term Limits to Increase Member Engagement

Through a methodical and deliberate process, management and the board came up with a process that addressed concerns and prepared the credit union for the future.