Friday, March 27, 2015
The Real Battle Over Payday Lending Has Just Begun
WASHINGTON — The Consumer Financial Protection Bureau's plans for revamping payday lending set off a fierce debate Thursday over whether the agency had gone too far or not far enough, proving that this is likely to be one of the trickiest rulemakings the agency will ever attempt.
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WASHINGTON — The House Financial Services Committee approved nearly a dozen regulatory reform bills for credit unions and community banks on Thursday, though Democrats signaled they remain concerned about efforts to roll back the Dodd-Frank Act and consumer protection measures. more »
After releasing successive studies on the payday industry over the past two years, the Consumer Financial Protection Bureau is finally set to unveil Thursday sweeping proposals that could fundamentally change the business of short-term loans and other products. more »
Subprime auto lending has become a top priority for the CFPB, said Steve Antonakes, the agency's deputy director on Wednesday. He also revealed that it was open to making changes to its complaint portal, which the agency recently said would allow consumers to post detailed narratives of their problems with financial institutions. more »
WASHINGTON — The Consumer Financial Protection Bureau on Thursday finalized a controversial policy allowing consumers to describe their banking experiences more fully on the agency's complaint portal. more »
In a unanimous vote, the NCUA Board moved to eliminate a restriction that limited federal credit unions' investment in fixed assets to 5% of assets. more »
The House Financial Services Committee renewed its look at regulatory relief for small financial institutions Wednesday, pressing bankers and credit union representatives for details about their compliance burdens. more »
The Consumer Financial Protection Bureau announced Tuesday that it's seeking public comment ahead of a second study on the credit card market that could pave the way for new regulations or enforcement actions. more »
Washington — CUNA officials continue to insist NCUA lacks statutory authority to implement a two-tiered risk-based capital rule. more »
WASHINGTON — NCUA is working to streamline the exam process and reduce the burden for credit unions, according to Larry Fazio, director of the agency's Office of Examination and Insurance. more »
WASHINGTON — A group of representatives from across the credit union spectrum has banded together as Credit Union Voices and will be hosting a booth at CUNA's GAC here next week allowing guests to comment on and submit letters regarding NCUA's revised risk-based capital proposal. more »
Consumer Financial Protection Bureau Director Richard Cordray said a review of its "qualified mortgage" rule will allow enough time to consider changes if lawmakers fail to make progress on housing finance before a key deadline. more »
NCUA will webcast a seminar on field of membership expansion and improved service to underserved communities, the agency announced Tuesday. more »
WASHINGTON — Two senior members of the House Financial Services Committee on Monday introduced H.R. 1188, the Credit Union Small Business Jobs Creation Act, which would increase the member business lending cap for qualified credit unions to 27.5% from its current 12.25%. more »
Apr 08 - 10 | Card Forum & Expo

Chicago Downtown Marriott
Chicago, IL
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Jun 01 - 03 | NCCR

Hyatt Regency
New Orleans
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Exit Interview
After 42 years at the credit union, outgoing Michigan State University FCU CEO Pat McPharlin recently looked back -- and forward -- in this brief interview one day before his retirement.
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