CFPB Ruling May Shake Up Interagency Dynamics
A federal appeals court’s decision that declared the Consumer Financial Protection Bureau an arm of the White House relies on a novel interpretation of the constitution’s separation of powers clause that could have broader effects on how other regulators like the OCC and FHFA interact.   more »
NCUA's new, interactive online Examiner’s Guide from is intended toprovide up-to-date, comprehensive, supervisory guidance that can be updated as new laws and regs take effect. more »
Legal fees for lawsuits against the banks and securities firms that sold the faulty mortgage-backed securities that led to the corporate credit union meltdown have eaten up more than 20% of total recoveries. more »
Despite more than a year of campaigning and discussing various issues, Donald Trump remains a huge question mark when it comes to policies affecting credit unions — making it unclear exactly what his priorities would be if he succeeds in seizing the White House. more »
A win by Hillary Clinton would be something of a mixed bag for credit unions. On the one hand, she's a moderate with detailed policies and has pledged to roll back the regulatory burden for CUs. Yet she may also be pushed to the left as she navigates issues, particularly on regulatory appointments. more »
The Consumer Financial Protection Bureau decried an appeals court ruling last week that found its single-director structure unconstitutional, saying the opinion was "wrongly decided" and had "no basis in the text of the Constitution or in Supreme Court case law." more »
Fiscal Credit Union, Glendale, Calif., on Tuesday said its board of directors is pursuing a merger with UNIFY Financial Federal Credit Union, Torrance, Calif. more »
WASHINGTON -- Federal banking regulators issued a broad proposal Wednesday designed to counteract cybersecurity threats that could hit at the financial industry’s critical junctures. more »
Full $6 billion borrowing line will remain open, but CUs shouldn’t expect refunds of assessments anytime soon. more »
The Federal Financial Institutions Examination Council reiterated Monday that its cybersecurity assessment tool is voluntary, despite bankers' fears that not using it could put them in hot water with their examiners. more »
With implementation of a new IRS rule just weeks away, a group of seven financial trade groups, including Credit Union National Association (CUNA) and National Association of Federal Credit Unions (NAFCU), wrote a joint letter to the head of the IRS saying the rule could harm their members' mortgage lending activities. more »
The budget proposal was released less than two weeks before the agency's first public budget hearing since 2008 and drew immediate criticisms from the CU trade associations. more »
A nationwide payday lending rule would add to credit unions' regulatory burden and could increase costs -- a move which would ultimately lead to increase costs for consumers, NASCUS told CFPB. more »
How Diverse is Your CU?
This video from NCUA introduces the regulator's new diversity self-assessment checklist to help credit unions can improve their diversity efforts. The assessment has no bearing on an institution's CAMEL rating and is not part of the exam process.