Fed Clarifies Portions of New TILA Rules

The clarifications relate to the Fed’s final rule and are intended to help card issuers understand their compliance obligations under changes to Regulation Z.

Legal Briefs

Your update on the regulatory landscape.

The Trust Helps CUs Navigate Healthcare Reform

Though a significant portion of the new healthcare law’s rules have yet to be defined, NW Financial Employees’ Benefit Trust lays out some of the major changes.

Compliance Burden Has Grown by 19,000 Pages since 2009, NWCUA Finds

Since January 2009, thousands of pages of regulations and rules have been issued by various agencies, including the Federal Reserve and NCUA, that credit unions must comply with.

Federal Legislative Week in Review

With Congress in recess, take the opportunity to see your legislators in person and remind them of the need to stop, study, and start over with interchange regulations.

Washington Legislative Week in Review

The legislature adjourned its session on Friday, but not before it passed the Prize-linked Savings Bill to the Governor for her signature.

Oregon Legislative Week in Review

With the committee deadline cutoff passed and the Association’s bills moving forward, it is time for a quick civics lesson on how ideas become law in Salem.

NCUA Removes Two Controversial Provisions from Corporate CU Rule

The board meeting on April 21 resulted in changes to Corporate Credit Union rule, Corporate CUSO powers, and Supervisory Committee and Appeals rights. It also provided an update on the health of the NCUSIF.

Fed Proposes Rule Under Reg. Z Pertaining to Ability to Repay Mortgage and Minimum Underwriting Standards

The proposal would apply to all consumer mortgages except home equity lines of credit, timeshare plans, reverse mortgages, or temporary loans.

Compliance Question of the Week

When are member funds presumed abandoned?

Nonprime Auto Approvals, Leasing Up in March

Autoland Solution’s president outlines various trends in the automobile market, including higher prices for Japanese cars following the tragic earthquake and tsunami.

Credit Scores to be Required on Adverse Action and Risk Based Pricing Notices

The proposed rules from the Fed and the FTC will come into effective on July 21, 2011, as part of the credit score disclosure requirements in the Dodd-Frank Act.

CU for Kids Raises $135,000 for Children’s Hospital

These funds will go to the Doernbecher Children’s Hospital in support of new facilities, equipment, research, and patient programs.