Overregulation is not just choking credit unions, it is choking our economy.
The Consumer Financial Protection Bureau released the final part of its new remittance rule Aug. 7, increasing the maximum number of annual transactions that qualify for safe harbor exemption to 100.
Four years ago, our nation was thrown into the deepest economic morass since the Great Depression. No question, the situation was dire. People lost their jobs and their homes. Banks and companies closed. Government officials scrambled to help bolster our fragile economy.
Inspector General critical of NCUA confidentiality.
NAFCU president asks Treasury secretary to intervene on behalf of credit unions.
NCUA Chairman Debbie Matz was named as a defendant in a lawsuit that challenges the constitutionality of the Consumer Financial Protection Bureau.
Plaintiffs challenge creation of CFPB and FSOC, Cordray's appointment.
Gov. Jerry Brown expected to soon name a successor.
Consumer Financial Protection Bureau Director Richard Cordray said his agency is discussing how best to proceed on additional regulations concerning overdraft protection and other checking account disclosures. The CFPB could issue proposed rules later this year.
So much to do, so many potential distractions. That’s the outlook facing Congress as it returns to work after its holiday break.