Obama Signs Into Law Three Credit Union Regulatory Relief Measures

Modernizations to privacy notification requirements, opening of FHLB membership to privately insured credit unions, and changes to the CFPB’s treatment of “rural” areas were all signed into law as part of a comprehensive highway bill.

Tax Conversation About to Get “Real” in the U.S. Senate

Credit union managers deciding whether to engage members in grassroots contacts with Congress have another reason to move forward: The Senate Finance Committee leaders confirmed Thursday that they are drafting tax reform legislation and asked their colleagues to determine which tax exemptions are preserved.

The CFPB Issues Clarification on 2013 HPML Escrow Rule

The CFPB has amended the 2013 Escrows for Higher Priced Mortgages Rule. Our compliance team breaks down the changes to the final rule as it impacts county designations and consumer protections.

What’s Next for Interchange?

This Federal update reviews the Federal Reserve’s next steps on the interchange issue and everything that was going on in DC last week.

Golden Parachute Rule Curtails Payouts at Troubled CUs

The rule also limits a federally insured credit union’s ability to provide indemnification.

CUNA Regulatory Advocacy Update

CUNA continues to press the Fed on interchange, and has concerns about the NCUA’s budget and its consistency in examinations.

NCUA Removes Two Controversial Provisions from Corporate CU Rule

The board meeting on April 21 resulted in changes to Corporate Credit Union rule, Corporate CUSO powers, and Supervisory Committee and Appeals rights. It also provided an update on the health of the NCUSIF.

Interchange Legislation Could be Introduced This Week

Credit unions are calling on Congress to stop, study and start over on planned interchange fee regulations, and legislation that would do just that could be introduced later this week.

Senate Passes Sweeping Regulatory Reform Bill

The Senate on Thursday passed the Dodd-Frank Wall Street Reform and Consumer Financial Protection Act—the comprehensive financial reform bill that Congress has been working on for over a year.