Consumer Financial Protection Bureau

• Banker Survey: CFPB’s QM Exemption Too Narrowly Defines 'Rural'

  By Heather Anderson  |  May 10, 2013

  ICBA says many of its rural members often make non-traditional loans that would not be allowed under proposed new rules.

• CFPB Delays Credit Insurance Rule to Clarify Language

  By Heather Anderson  |  May 9, 2013

  Provision was to take effect on June 1. CUNA has asked for extension until January.

• New GSE Rules Could Limit CU Housing Finance to Lower Income, Exec Says

  By David Morrison  |  May 8, 2013

  Wright-Patt lending chief says unintended consequences could result from new CFPB rules put on Fannie and Freddie.

• CFPB Doubles Remittance Compliance Time

  By Heather Anderson  |  May 8, 2013

  The Consumer Financial Protection Bureau released its final remittance rule April 28 and gave providers six months to comply, setting an Oct. 28 effective date. The bureau had originally proposed a 90-day compliance window following its release of the final rule.

• GSE Change Seen Minimal for Credit Union Mortgage Lenders

  By David Morrison  |  May 7, 2013

  Not much impact seen from Fannie Mae, Freddie Mac decision to buy only qualified mortgages after Jan. 10, 2014.

• Fannie and Freddie to Reject Non-QM Mortgages Starting January 2014

  By Heather Anderson  |  May 6, 2013

  FHFA said the GSEs will generally not buy loans that don't meet the CFPB's new "ability to repay rule."

• Partisan Bickering On CFPB

  By Heather Anderson  |  May 1, 2013

  Ever since Rep. Jeb Hensarling (R-Texas) and Rep. Maxine Waters (D-Calif.) were named the chairman and ranking member of the House Financial Services Committee late last year, Capitol Hill observers have waited for the two members of Congress and their polar opposite ideologies to clash publicly.

• CFPB Sets Oct. 28 Remittance Compliance Date

  By Heather Anderson  |  April 30, 2013

  Bureau issues final rule Tuesday without any credit union-requested changes.

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  Third-Party Vendor Issues and Checklist

  By E. Andrew Keeney  |  April 30, 2013

  In this Opinion piece, credit union attorney Andy Keeney provides a pointed look at potential pitfalls in third-party vendor management.

• CFPB Issues Final Rule Allowing Stay-at-Home Spouses Easier Access to Credit Cards

  By Marc Rapport  |  April 29, 2013

  Reg Z change will allow third-party income to be considered under CARD Act of 2009.