The Federal Home Loan Bank of Seattle released its latest three- and six-month financial results Monday, reporting a return to profitability as well as the restoration of normal operations after suffering losses during the same periods in 2011.
Credit unions are well positioned to discover instances of tax refund fraud, and FinCEN issued an advisory last week with several signs of potential fraud to be wary of in the coming weeks.
The CFPB is not required to consider safety and soundness when taking regulatory action, but Cordray says the agency is working with other financial regulators to find a balance between protecting consumers and addressing safety and soundness concerns.
The weekly Regulatory Advocacy Update outlines the NWCUA’s efforts to reduce the regulatory burden on credit unions and protect the larger movement. Included here are updates on the CFPB, the NCUA, the Fed, and a new proposal from the Oregon DOJ.
The CFPB released its official Mortgage Origination Examination Procedures, which will serve as a “field guide for CFPB examiners” as they examine mortgage originators in all sectors of the financial services industry.
The NCUA has clarified that new questions addressing minority credit unions and workplace diversity, which were added to fourth-quarter call report documents with no explanation from the agency, are required by the Dodd-Frank Wall Street Reform Act.
Patrick Allen, recently nominated to direct Oregonâ€™s Department of Consumer and Business Services (DCBS), invites credit unions to help him truly understand their operations with the belief that regulation can be tailored to fit segments of the financial services industry.
The Consumer Financial Protection Bureau recently released a manual to aid the agencyâ€™s examiners as they oversee financial services firms.
Changes in NCUSIF definitions of equity ratio and credit union net worth were unanimously approved by the NCUA board on Sept. 22.
The National Credit Union Administration is proposing a controversial requirement that credit union service organizations (CUSOs) file their financial statements to the agency. Credit union professionals with concerns about the proposal have until September 26 to file comment letters.
The new Consumer Financial Protection Bureau, created as a result of the Dodd-Frank Act, assumes oversight of Truth in Savings and Mortgage Registration from the National Credit Union Administration.
Northwest credit unions will lose millions of dollars in interest income as the result of the forced early redemption of term certificates deposited in WesCorp.
Some Wall Street giants are preparing to cut their use of U.S. Treasuries in favor of cash on hand as a precaution.
The plan adopted would allow credit unions a choice to prepay some their Corporate Stabilization Fund assessment. A free webinar explaining the plan is scheduled for July 11.
The insurance agency must primarily serve credit unions, their members, or the membership of credit unions that are under contract with the agency.
Senate Republicans last Thursday forced a vote on Senate Joint Resolution 32, a bill that would have given the legislature veto authority over job-killing agency rules.
Your update on the regulatory landscape.
Unless it hears concerns about making the comments public on or before June 10, the NCUA will post all comments on its website. Comments on the prepayment program accepted until June 20.