Wednesday, September 3, 2014
CFPB Finalizes Remittance Rules
WASHINGTON — The Consumer Financial Protection Bureau has finalized revisions to its international money transfer rule that will provide certain remittances with a longer exemption.
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Despite NCUA handing out of $57,750 in penalties to late Q1 Call Report filers, 75 federally insured CUs have filed their Q2 report late, the agency reported Monday. more »
WASHINGTON — The Consumer Financial Protection Bureau has chosen a dozen firms involved in the mortgage industry — including two credit unions — for a pilot program looking at whether electronic fillings can improve the mortgage closing process. more »
WASHINGTON — Capitol Hill's interest in the risk-based capital rule — possibly reaching record levels for NCUA's proposed rulemaking — may lead to greater change to the final rule than what the agency has said is coming, according to several Capitol Hill observers. more »
BLOOMINGTON, Ind. — The Consumer Financial Protection Bureau has withdrawn the names of two Indiana credit unions from a blog post that called out banks and CUs for a lack of transparency about their relationships with universities. more »
WASHINGTON — The Consumer Financial Protection Bureau named ten banks and credit unions on Wednesday that it claimed were not being transparent about their agreements with large universities to market financial products to students. more »
ALEXANDRIA, Va. — The National Credit Union Administration Tuesday said that 62 credit unions subject to late-filing penalties for first-quarter call reports have consented to pay. more »
ALEXANDRIA, Va. – NCUA Board Chairman Debbie Matz has tapped Board Member Rick Metsger to serve as the agency’s vice chairman. more »
LAS VEGAS — With less than a year before implementation, the clock is ticking for financial institutions that need to overhaul mortgage disclosures. more »
ALEXANDRIA, Va. — The NCUA Board unanimously approved a rule Thursday morning to eliminate the 5% cap on fixed assets. more »
The credit union trade associations scored some legislative victories Wednesday morning after the House Financial Services Committee passed several regulatory relief measures supported by both NAFCU and CUNA. more »
ALEXANDRIA, Va. — The NCUA Board will go over the regulator's 2014 mid-year operating budget when it holds its next scheduled meeting Thursday morning, and plans to introduce a rule that is expected to bring significant relief to credit unions. more »
WASHINGTON — CUNA and NAFCU are watching the House Financial Services Committee closely today, hoping the panel votes not only to provide regulatory relief for credit unions, but also approves a legislative amendment that could delay implementation of NCUA's risk-based capital rule. more »
LAS VEGAS — NCUA plans to propose a rule to "effectively eliminate" the 5% cap on fixed assets, NCUA Chairman Debbie Matz announced. more »
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