The preliminary injunction blocks the implementation of the Department of Labor’s (DOL) new overtime rules which would have gone into effect on December 1.
The document shares more on how financial institutions have become attractive targets to criminals.
The monthly complaint snapshot highlights consumer complaints about bank accounts and services. Also, legal briefs and compliance questions answered.
Starting in October, the Washington Dept. of Financial Institutions, Division of Credit Unions, will notify the credit union of the filed complaint through encrypted email with a read receipt upon delivery.
This week we will examine the history of the credit union movement in the Pacific Northwest.
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.
Compliance Center: VISA card issuers must offer transaction alert capability by October; also, question on FFIEC Cyber security Assessment Tool and legal briefs.
A U.S. Court of Appeals overturned a lower-court ruling today that supported merchants’ arguments in the ongoing debate over the interchange fees financial institutions charge for accepting card-based transactions. The Fed’s cap on “swipe fees” is not too high, the court ruled.
The Federal Reserve’s Federal Open Market Committee voted this week to continue purchasing bonds and Treasuries and to hold the federal target fund interest rate steady at near-zero levels until unemployment falls below 6.5 percent.
After months of waiting and hard fought legislative and regulatory battles, yesterday the Fed revised plan moves from a flat 12 cent cap to a 21 cent fee with some add-ons.
This weekâ€™s Federal Legislative Week in Review outlines work on the federal mortgage standards bill, the Fedâ€™s pending Interchange amendment, and the NCUAâ€™s prepayment plan.
Itâ€™s a central banker’s worst nightmare: The economy is stagnating with a weak labor market, yet inflationary pressures are building. How should CUs prepare?
This Federal update reviews the Federal Reserve’s next steps on the interchange issue and everything that was going on in DC last week.
The Association submitted a comment letter urging the agency to think about the ruleâ€™s effect on credit unions and specialized lenders.
The Fed is seeking public comment on how to address the specific issues that it is required to study, as well as any research or empirical data that it should take into account.
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.
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.
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.