Think firm reviewed websites of 1,676 financial institutions, found both sides of aisle lacking.
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.
Measure would move practice firmly into CFPB portfolio.
The CFPB could be a great danger to credit unions, which it has already demonstrated with a number of regulations, including new mortgage rules.
Bipartisan deal gets CFPB director the job officially while court fight continues and House leader lashes out.
BOSTON — The Consumer Financial Protection Bureau’s qualified mortgage rule that limits closing costs to 3% of the loan balance will have such a big impact on Midwestern credit unions, one Minnesota-based executive said he’d lose money if he complied.
Credit union people are an eclectic bunch. I think the importance of the not for profit philosophy contributes to diversity of the characters. When they’re all in one area, such as an exhibit hall at a conference, the variety becomes more pronounced.
By now, credit union leaders have become accustomed to new regulations coming down the pike. Less awareness exists, however, for the importance of moving early on the steps it takes to comply with these new regulations.
The upper chamber invoked cloture, which limits remaining debate to no more than eight hours, so the final vote is expected soon.
Petraeus to discuss how credit unions can help service members.