Consumers can have confidence when they use their credit and debit cards to shop this holiday season. The NWCUA has stocked the Pro-Credit Union Messaging Resource Center with tips for marketers to share.
More than a direct effect on the operations of financial institutions or the U.S. economy, the Eurozone situation is beginning to create concern among consumers for the safety of their money and the stability of the economy.
News reports of the financial upheaval in Europe have begun describing the situation as a “bank run,” which will likely lead to consumer questions about the stability of American financial institutions as media coverage expands.
The CFPB is not required to consider safety and soundness when taking regulatory action, but Cordray says the agency is working with other financial regulators to find a balance between protecting consumers and addressing safety and soundness concerns.
NCUA Board Chairman Debbie Matz launched a â€œRegulatory Modernization Initiativeâ€ to keep credit unions safe and sound while relieving regulatory burdens. The initiative will introduce new rules, revise existing rules and establish several regulatory relief efforts.