US Capitol building

Congress to Cordray: Dodd-Frank Not Intended for Credit Unions, Community Banks

The majority of Congress—including a large delegation of Northwest members— agrees that the CFPB’s approach may unintentionally burden credit unions and community banks. More than 240 Members of Congress have written Director Richard Cordray to tell him so.

FRB and CFPB Announce Annual Increases in Dollar Thresholds for Parts of Reg Z, M

The Federal Reserve Board and the Consumer Financial Protection Bureau announced increases in the dollar thresholds in Regulation Z and Regulation M for exempt consumer credit and lease transactions that will take effect Jan. 1, 2013.

Regulatory Cliff Now Has an Extended Effective Date

The CFPB extended the effective date for several mortgage disclosures that are required by the Dodd-Frank Act to Jan. 21, 2013, delaying several of the act’s provisions until the final TILA-RESPA rules are in effect.

House Committee to Examine Dodd-Frank Impact as Banks Reveal Possible Piggyback for MBL Bill

The House Financial Services Committee is examining Dodd-Frank’s impact this week as the Wall Street reform package celebrates its second anniversary. Meanwhile, advocates are exploring packaging S. 2231 with a bill to extend banks’ TAG insurance.

Legal Briefs

Your weekly update on the regulatory landscape.

Frank Announces Plans to Retire, Will Not Seek Reelection

Rep. Barney Frank, D-Mass., announced Monday that he would not seek reelection next November. One of the key architects of the Dodd-Frank Financial Regulatory Reform Act, Frank was “a friend to credit unions,” according to CUNA President/CEO Bill Cheney.

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.

Federal Appeals Court Decision Could Delay the Implementation of Several Dodd-Frank Wall Street Reform and Consumer Protection Act Regulations

An improperly conducted cost-benefit analysis could delay the implementation of several regulations.

Key Drafter of Dodd-Frank: Act Will Level Playing Field

Michael Barr, a former Treasury staff who helped to draft the Dodd-Frank Act, will speak at this year’s Convention about the effect of the new law and other legislative overhauls that will change the financial system.

The Corner Office: Reflections on Dodd-Frank

Oregonians CEO Chuck Garner says he and his credit union have many concerns about the unintended consequences of the Dodd-Frank Act, which was signed into law one year ago.

Legal Briefs

Your update on the regulatory landscape.

Legal Briefs

Your update of the regulatory landscape.

Federal GAC: CUNA Warns Reg Burden is Growing ‘Crisis’

CUNA President & CEO Bill Cheney told a House subcommittee on Wednesday that credit unions face a crushing “crisis of creeping complexity” under a steady accumulation of regulatory requirements.