Agency also elevates position to direct report to NCUA Board.
The Consumer Financial Protection Bureau released final mortgage rules that restrict loan originator compensation methods and increase the level of service loan servicers must provide to borrowers. However, due to the way credit unions already do business, trade associations say neither rule will have a major impact on the industry.
CFPB final mortgage servicing rule hits slightly more than 200 of 6,900 federally insured credit unions.
ALEXANDRIA, Va. — The NCUA approved a controversial final rule during its Jan. 10 board meeting that would allow the federal regulator to declare a state-regulated, federally insured credit union to be in “troubled condition”.
The full effect of the Dodd–Frank Wall Street Reform and Consumer Protection Act is still to be felt in the financial sector. Dodd-Frank creates an environment of increased scrutiny and heightened sensitivity by regulators and consumers.
Credit unions pose diverse regulatory challenge, but some things apply to all sizes.
Credit unions awaiting NCUA final rules on emergency liquidity, CUSOs and loan participations can breathe easy until late 2013.
NCUA Board Chairman Debbie Matz’s Oct. 4 town hall webinar is now available on the agency’s website.
Region I Director Mark Treichel will replace the retiring David Marquis as the next NCUA executive director, the agency announced Thursday.
At the Credit Union Enterprise Risk Management conference earlier this month, a senior official at the NCUA declared that the agency is taking a more qualitative approach rather than quantitative in its examinations. Tim Segerson, deputy director of the Office of Examination and Insurance, acknowledged that credit unions that don’t...