Washington lawmakers are taking a close look at tax exemptions in the final weeks of the 2016 regular session.
The National Credit Union Administration has approved a modernized Member Business Lending rule giving federally insured credit unions greater flexibility.
NCUA Vice Chair Rick Metsger isn’t fazed by bank lobby claims the regulator is overstepping its authority. Metsger said “90 percent” of regulatory changes credit unions want to better serve their members, NCUA can provide.
Get details on the updated Unified Agendas of the CFPB, NCUA, and other federal regulatory agencies; your question answered about Reg E claims where no error occurred; plus this week’s legal briefs.
The Association sent a letter to the CFPB with three requests regarding upcoming TRID implementation, the most urgent of which is for a transitional implementation grace period through the end of the year.
The proposal would remove or modify a number of prescriptive limitations to member business lending, opting for a principle-based approach. It would also do away with the 12.25 percent of assets limit, in favor of a net worth ratio.
Both credit union priority bills passed the Washington State Legislature and will be sent to the governor to be signed into law.
Priority bills addressing credit unions’ corporate governance and investments passed the Washington State House and Senate.
Credit unions of $100 million and under would face reduced regulatory burden under the proposal. Credit union advocates seek higher threshold.
New AHC Network rules, legal briefs and the compliance question of the week.
As Washington’s politically divided Legislature enters the third week of its 60-day session, the Northwest Credit Union Association is keeping a close watch on bills of interest to its members. Here’s what’s currently on the NWCUA’s radar.
The National Credit Union Administration has issued a regulatory alert to all federally insured credit unions focusing on the new Homeownership Counseling and Consumer Protection Requirements under HOEPA requirements that go into effect on Friday, Jan. 10.
On the eve of the implementation of new mortgage rules adopted by the Consumer Financial Protection Bureau, CFPB Director Richard Cordray thanked credit unions this week for taking “another critical step in the ongoing recovery of the housing market.”
The National Credit Union Administration has issued a regulatory alert to all federally insured credit unions focusing on the Ability-to-Repay (ATR) and Qualified Mortgage (QM) requirements that go into effect on Friday, Jan. 10.
Without a doubt, 2013 may have been one of the most challenging years ever for dealing with new compliance requirements.