If the Toomey-Donnelly bill passes, only Navy FCU would be directly supervised by the CFPB.
Republican-led House Financial Services Committee launches site one day before CFPB Director Cordray presents semi-annual report.
Dykema announced the release of its new regulatory scorecard on activities of the new Bureau of Consumer Financial Protection.
At a recent credit union meeting when I raised the subject of the NCUA’s recent proposal to permit credit unions to voluntarily prepay assessments, earning 0% interest with the agency, CEO heads were shaking. All in disbelief and all in response to the question, “Will your credit union be participating?”
Credit union trade groups are cautiously optimistic while Republicans are downright frustrated with the early moves of the new consumer bureau.
WASHINGTON — Treasury Secretary Tim Geithner criticized unnamed “dark forces” who are trying to undermine the implementation of last year's financial overhaul bill.
At press time, the House Financial Services Committee was close to passing a bill extending the National Flood Insurance Program for five years and three bills to make changes to the structure of the Bureau of Consumer Financial Protection.
Retail and financial service industries are duking it out over attempts to regulate debit interchange fees.
CUNA will endorse putting a credit union member on a five-member board that some lawmakers are proposing to run the Bureau of Consumer Financial Protection, and will support allowing a council of regulators to overturn bureau decisions by a majority vote.
Citing a potentially devastating impact on credit unions, both CUNA and NAFCU urged the Obama administration to endorse a delay in the implementation of the Federal Reserve’s rule regulating debit interchange fees.