New York Gov. Andrew Cuomo signed a credit union-backed bill that places stricter guidelines when creditors subpoena information.
New York credit unions as well as banks may be getting a break soon from ‘spam-driven’ subpoenas issued by collection lawyers and other creditors under a bill winning final clearance in the New York Assembly Wednesday and now headed to Gov. Andrew Cuomo’s desk.
The notion of combining regulatory agencies covering credit unions, banks and insurance firms may be a pet project of New York's new governor, Andrew Cuomo, but so far it has won only preliminary CU approval.
New York CUs gave preliminary approval Thursday to Gov. Andrew Cuomo's cost-cutting call to combine state regulatory agencies covering banks, insurance, consumer protection and credit unions into a new Department of Financial Regulation.
The ongoing tangle that has become the foreclosure process in many parts of the country moved in two directions last week, each of which could impact credit unions.