NAFCU witness tells congressional panel that new CFPB rules add to the problem.
Rose Bartolomucci of Towpath Credit Union in Ohio testifies Wednesday to House Financial Services Committee.
While it would seem like credit card compliance issues are in the rearview mirror, now is the perfect time for credit unions to review their procedures to ensure they remain compliant.
In contrast to current meteorological trends, predictions for the coming regulatory climate, according to one consultant, show escalating temperatures with little chance of relief.
Agency handles growing number of requests as compliance gets more complicated.
Trade group says credit unions cite third-party vendor issues, fear that lending could slow or stop.
Credit union witnesses will appear before panels to address CFPB reform and regulatory burden.
From increasing services to mitigating risks, the benefits of partnering with CUSOs and other vendors run the gamut, experts say.
New rule exam for Evergreen State credit unions focuses on consumer and regulatory compliance, including FFIEC, BSA.
Richard Cordray was confirmed as director of the Consumer Financial Protection Bureau July 16, after Senate Democrats and Republicans successfully negotiated a deal that includes other pending nominees and will keep filibuster rules in place.