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.
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.
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.
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.
Your weekly update on the regulatory landscape.
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 â€œa friend to credit unions,â€ according to CUNA President/CEO Bill Cheney.
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.
Michael Barr, a former Treasury staff who helped to draft the Dodd-Frank Act, will speak at this yearâ€™s Convention about the effect of the new law and other legislative overhauls that will change the financial system.
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.
Your update on the regulatory landscape.
Your update of the regulatory landscape.
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.