Compliance News
Compliance Center: CFPB Releases Proposed Amendment to the Annual Privacy Notice Requirement Under GLB Act
The proposal follows part of the Fixing America’s Surface Transportation Act (FAST Act) last December.
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Oregon Legislative Update: Committee Deadline Hits
NWCUA continues working on top priorities as the committee deadline hits and minimum wage bills are heard.
Oregon Legislative Update: Committee Deadline Approaches
With credit union bills already passed houses of origin, Oregon Legislature approaches deadline for other bills.
Rep. Heck’s Pro Marijuana Banking Amendment Passes House
Banking of legal marijuana businesses received support from the House in two votes Wednesday. One of the measures was proposed by Rep. Denny Heck.
CFPB Issues Highly Anticipated Ability-to-Repay Mortgage Rule
A rule issued today by the CFPB today that protects consumers from certain irresponsible mortgage lending practices and requires lenders to ensure homebuyers will be capable of repaying the mortgage also includes some safe harbors and exemptions for credit unions.
CFPB Seeks Public Comment on Amendment to Credit Card Act Rule
The CFPB is seeking public comment on a proposal to revise a 2011 rule that the Federal Reserve Board had issued on credit card fees in response to a federal court ruling that had granted a preliminary injunction to block the rule from taking effect.
Legal Briefs
Your weekly update on the regulatory landscape.
Bonus Compliance Question of the Week
How does a federal credit union add different language to its charter to increase membership?
Oregon Legislative Week in Review: Legislature Adjourns After First Annual Session
The Oregon Legislature adjourned its 35-day legislative session on March 5 having rebalanced the July 2011-June 2013 budget and approved dozens of policy measures, including expanding eligibility for Oregon’s Credit Enhancement Fund.
Notice Regarding How to Correct or Amend Paper Bank Secrecy Act Forms
Due to business process changes resulting from FinCEN’s BSA IT modernization, paper form instructions that pertain to filing corrections or amendments have changed.
Credit Union Movement’s Clout is in Cooperation
CUNA Mutual Group writes about how credit union advocates have pulled together to reduce Dodd-Frank’s negative impact on members.
Senate to Hold Hearing on Housing Finance Reform
This week’s Federal Legislative Week in Review outlines work on the federal mortgage standards bill, the Fed’s pending Interchange amendment, and the NCUA’s prepayment plan.
Interchange Fight Moves On From Senate
Despite the failure of the Tester-Corker Amendment, the interchange fight will continue with dialogue with the regulators and by working through the courts.
Oregon Legislative Week in Review
As legislative leaders anticipate ending the session on time, a bevy of bills that affect credit unions circulate including one concerning selling loans on the secondary market.
New Interchange Approach Announced by Senators
Senators Tester and Corker will attempt to attach their legislation to delay the debit interchange fee regulation to a bill to reauthorize the Economic Development Administration.
CUNA Continues to Push for Interchange Fixes
CUNA’s regulatory update includes details about interchange efforts, plus a preview of the NCUA Board meeting.
Annaloro, Stang On-Hand to Launch Interchange Ads
The ad, which airs on broadcast and cable stations in the Washington, DC area, talks about the domino effect on consumers from the “$12 billion payday†that law makers gave retailers under the Durbin Amendment.
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.