The NCUA and CFPB have placed more emphasis on Fair Lending laws and HMDA data collection in 2013, and credit unions can expect more in 2014.
NCUA, CFPB promise more rules and exams in the year ahead.
Credit unions that received a notice from the IRS informing them that their tax-exempt status had been revoked due to improper filing now have specific instructions on how to have it restored.
The Financial Accounting Standards Board recently released a proposed accounting standards update for financial instruments concerning new financial statement disclosures of liquidity risk and interest rate risk. The proposal is one portion of a joint project between FASB and the International Accounting Standards Board on the subject of accounting for...
I disagree strongly with the premise behind the article, “Does NCUA Disdain the Dual System?” (Aug. 8 issue, page 1). It’s important to set the record straight.
Just one of the provisions in the Consumer Financial Protection Bureau’s proposed rules on mortgage servicers released Aug. 10 could cost credit unions tens of thousands of dollars, representatives of the industry told the bureau.
The banking industry’s longstanding effort to deter or prevent credit unions from using the words “bank” and “banking” in advertising was advanced to a new plateau last week with a proposed cease and desist order placed by the state’s top regulator on the $600 million Vermont State Employees Credit Union.
The recent decision by the State of Vermont Department of Financial Regulation ordering the Vermont State Employees Credit Union to stop using words such as “bank” and “banking” in its marketing, communications and advertising begs the question, are you really serious?
Douglas Fecher, president/CEO of the $2.45 billion Wright-Patt Credit Union told lawmakers last week to direct the Consumer Financial Protection Bureau to limit regulatory burden by using existing tools, such as the power to exempt credit unions from its rulemaking.
The suggestion in the Editor’s Column [July 25, page 4] that a Republican administration could mean a 180-degree turn in credit union regulation is unfortunately partisan.