WASHINGTON-Two CU reps are among the 25 consumer experts from outside the federal government that the Consumer Financial Protection Bureau (CFPB) has appointed to form its new Consumer Advisory Board (CAB). Named to the CAB were Bill Bynum, CEO of Hope Community CU, Jackson, Miss., and Laura Castro de Cortes of Centris FCU, Omaha, Neb. The CFPB also named 15 people to its new Credit Union Advisory Council: Bernard Balsis of IEG FCU; Rose Bartolomucci of Towpath CU; Gary Bell of Cooperative FCU; John Buckley of Gerber FCU; Carla Decker of District Government Employees FCU; Ron Ehrenreich, Syracuse Cooperative FCU; Kevin Foster-Keddie of Washington State Employees CU; Mitchell Klein of Police and Firemen FCU; Lily Lo of Northeast Community FCU; Maria Martinez of Border FCU; Marcus Schaefer of Truliant FCU; Camille Shillenn of Unified People's CU; Helen Godfrey Smith of Shreveport FCU; Gregg Stockdale of 1st Valley CU, and David Wright of Services Center FCU.
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The newest version of the House housing bill would make a ban on institutional investors owning some homes less harsh than the Senate version by removing a seven year mandate on selling build-to-rent homes.
May 19 -
The National Credit Union Administration Tuesday submitted a rule to the Office of Management and Budget stating that federal law preempts state laws on interchange, blocking an Illinois statute banning the collection of swipe fees on taxes and tips.
May 19 -
The Federal Financial Institutions Examination Council — whose members include federal bank regulators — issued a proposal Tuesday to overhaul the bank supervisory ratings process, the first such revision in 30 years. The proposal would reduce the weight management grades have on supervisory ratings and would require rating downgrades to be tied to explicit financial risks.
May 19 -
JPMorganChase's shareholders have occasionally floated proposals to make sure the bank's lobbying dollars match its public statements. At the company's annual meeting on Monday, support for one such measure was down significantly from a similar proposal in 2023.
May 19 -
Flagstar Bank extended Joseph Otting's employment contract by one year and granted him new stock awards. Simultaneously, the bank promoted two executives to serve as co-presidents, in a move that could be a hint at CEO succession plans.
May 19 -
The two fintechs will increase distribution of a 'pay by bank' option that has picked up steam in recent years as merchants and consumers seek relief from card fees.
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