Combined mortgage disclosures, a new definition of APR, and an expansion of mortgage loans that qualify for Home Ownership and Equity Protection Act coverage were among major changes the Consumer Financial Protection Bureau proposed July 9 when it released two proposed rules.
Agency releases long-awaited proposed rule as an 1,100-page document with comments due by Sept. 7.
Final rules passed at the NCUA board meeting May 24 include the extension of regulatory flexibility standards to all credit unions, and new rules for troubled debt restructuring that will require written loan workout and nonaccrual policies.
CEO Fred Becker, chief lobbyists ask Obama aide to support raising MBL cap, help ensure preservation of tax-exempt status.
Topics discussed at the event covered NCUA’s new interest rate risk policy, member business lending regulations, the exam appeal process, overdrafts and the Consumer Financial Protection Bureau.
CFPB Director Richard Cordray will take questions from credit unions during the live webcast, set for 2 p.m. that Tuesday from NAFCU’s headquarters.
NAFCU has asked that the NCUA stop using material from financial advice guru Suze Orman after she launched a decoupled debit card program that could hurt credit unions.
NAFCU asks NCUA to stop using material from Suze Orman because of her debit card program trade says has the potential to hurt credit unions.
NAFCU, CUNA counsels recommend changes in shortened version.
Trade says latest versions are an improvement, expresses remaining concerns.