Regulatory & Compliance

I read, with interest, Henry Wirz’s letter in the May 11 issue, “Capital Plan Is a Bust.” First, for clarification, the white paper was not “recently released.” It was released on April 12, 2010. Second, the white paper was released under my and my working group’s authorship.

At a recent credit union meeting when I raised the subject of the NCUAs recent proposal to permit credit unions to voluntarily prepay assessments, earning 0% interest with the agency, CEO heads were shaking. All in disbelief and all in response to the question, Will your credit union be participating?

CUNA contends that the NCUA’s proposed rule mandating that most credit unions have an interest rate risk policy isn’t needed because most credit unions have such plans in place while NAFCU just wants the proposal tweaked a bit.

Credit union trade groups are cautiously optimistic while Republicans are downright frustrated with the early moves of the new consumer bureau.

Agency says it wants to encourage "more frank feedback" from credit unions on participation in corporate rescue fund.

Senate meeting this week only enough to prevent recess appointment of Warren to head of new CFPB.