Regulatory & Compliance

Citing the "the current stressed environment," the Federal Financial Institutions Examination Council has made a policy statement on the issue of financial institutions changing their charters.

Organizations that provide information about consumers to credit reporting agencies must include information about the individual's credit limit, under regulations released today by the NCUA and four other regulators.

NCUA Chairman Michael E. Fryzel said he plans to include funding for a new Office of Consumer Protection in the agency's budget for next year.

The U.S. Senate may soon get some comic relief.

The new agency to regulate financial services products would be able to levy fines, subpoena information and consolidate consumer protection in one place, according to a draft of the legislation released today by the Treasury Department.

CUNA President/CEO Dan Mica said today that Treasury Secretary Timothy Geithner expressed understanding for credit unions' concerns about facing additional regulatory burden under the administration's plan to revamp the regulation of financial services.