CFPB and NCUA officials have announced semi-annual rulemaking agenda updates.
NCUA Board Issues Revised Proposed Rules on Executive Compensation, Partial Occupancy; Also, Freed Named to Succeed Whitehead as Region V Director
NCUA’s Board of Directors met last week and took action on a number of items, including executive compensation & partial building occupancy. Also, Cherie Freed was named as Region V Director, taking over for Elizabeth Whitehead.
A vote on the final version of the National Credit Union Administration’s revised risk-based capital proposal is on the agenda for the agency’s October 15 meeting.
Credit unions are encouraged to file comments before the October 14 cutoff regarding the proposed changes, as well as other questions or concerns about assessments.
Read the NWCUA’s draft comment letter, join a CUNA webinar on the proposed bill, and get your comments in by the August 31 deadline.
The CFPB announced that it had discovered an administrative error, which prompted the delay.
NCUA agenda set; your question answered on charging fee for dormancy; plus this week’s legal briefs.
Proposed rule would remove regulatory cap in favor of supervisory oversight and guidance.
Same day automated clearing house transactions; your question on aggregating cash in and out transactions answered; plus legal briefs.
The rule would create an unfair advantage for FDIC-insured financial institutions.
NCUA Chair Debbie Matz plans to unveil a revised RBC proposal at the board’s January 15 open meeting.
CFPB to focus on mortgages, prepaid cards and payday loans; certificate account compliance question; and legal briefs.
Responding to Rep. Holding, Matz says that changes are in development, second comment period dependent on changes.
FinCEN released a proposed rule to enhance customer due diligence requirements at financial institutions. Find out what it means for credit unions in this week’s Compliance Center. Also: legal briefs and the question of the week.
The latest from the NCUA following the June board meeting, the week’s legal briefs and the “question of the week”.
The Consumer Financial Protection Bureau (CFPB) recently published a semi-annual update of the rulemaking agenda. Also in today’s Anthem: Legal Briefs, and the Question of the Week: “Can a credit union open a share account for someone who only has an ITIN and not a Social Security Number?”
Why would a credit union want to establish complaint tracking and management processes? The short answer is: “Because regulators are looking at your complaints.” Also in today’s Anthem: Legal Briefs, and the Question of the Week: “If a member wants to purchase a cashier’s check for $9,975 with a service fee of $50 and pays in cash, is the credit union required to file a Currency Transaction Report?”
The Consumer Financial Protection Bureau (CFPB) released proposed amendments to the ability-to-repay rule. Also in today’s Anthem: Legal Briefs, and the Question of the Week: “When advertising a loan product, if I want to disclose the APR, what else am I required to disclose?”