Regulatory & Compliance

While Democratic senators blast the agency, Comptroller of the Currency Joseph Otting praises the CFPB's decision.

CU experts believe by simply removing requirements won't convince credit unions to get into the payday lending business,

The proposal would also eliminate the current 120-day time limit for receiving a third-party audit report.

"Both nominees possess a deep understanding of credit unions and the issues that affect them."

The House bill is expected to be introduced in the next two or three weeks.

A CU executive testifies FIs should be able to "serve businesses that engage in activities that are authorized under their state laws."