There is little doubt that the planned merger of a smaller and neighboring Pennsylvania CU advanced by the $65 million SPE Federal Credit Union of State College became complicated by charter issues, but this is one that took two years to complete.
When the new Consumer Financial Protection Bureau begins operations on July 21 it will be a headless wonder, albeit one with lots of clout. At press time, President Obama hadn’t named a permanent director for the CFPB. However, that won’t prevent the bureau from issuing regulations and examining certain large...
An in-depth look at the debut of the Consumer Financial Protection Bureau is featured in the July 20 edition of Credit Union Times.
Letter exchange continues between NAFCU CEO and NCUA chair over Office of Consumer Protection; now he asks to meet.
NCUA chair says her agency would be vigilant about telling credit union members about any violation of a federal consumer law or regulation.
Credit union trade groups are cautiously optimistic while Republicans are downright frustrated with the early moves of the new consumer bureau.
Although government work isn’t always lucrative, 25 NCUA employees make more than $201,000 annually, according to agency records.
NAFCU President/CEO Fred Becker urged regulators to “exercise caution,” when communicating with credit unions about complaints they receive so as not increase the likelihood of litigation or reputational risk.
Seeking to provide a one-stop source for consumer and credit union information, the NCUA today launched mycreditunion.gov.
More work preparing for exams and additional compliance requirements throughout the year.