Compliance

WASHINGTON – Sen. Elizabeth Warren, widely credited with creating the idea of the Consumer Financial Protection Bureau, ripped her new Republican colleagues in the Senate during CUNA’s Government Affairs Conference this morning for their continued efforts to block a vote on the new agency’s director until they get a deal to change the structure of the fledgling consumer agency.

WASHINGTON – Consumer Financial Protection Bureau Director Richard Cordray, whose nomination is being held up in the Senate, told attendees to CUNA’s Government Affairs Conference this morning that credit unions are not the target of the new consumer cop on the block and he asked for their help in selling the fledgling agency to the public.

WASHINGTON – Rep. Spencer Bachus, (R-AL) told CUNA’s GAC that he believes Richard Cordray’s appointment to head the Consumer Financial Protection Bureau will be ruled unconstitutional, which will reduce the regulatory burden on CUs.

GREENSBORO, N.C. – Greensboro Postal CU has implemented Continuity Control’s regulatory compliance management system to help it keep up with new NCUA rules and regulations.

WASHINGTON – A number of CUs got the message yesterday that if they want to recertify their Community Development Financial Institution (CDFI) designation, they had better get moving now.

WASHINGTON – NCUA Chairman Debbie Matz, who tightened the regulatory screws when she took over at NCUA in 2009, assumed the role of de-regulator during CUNA’s Government Affairs Conference yesterday, saying the agency’s efforts now are aimed at reducing regulatory burden.

WASHINGTON – Several senators are working behind the scenes to hammer out a compromise on the nomination to head the Consumer Financial Protection Bureau, as a determined block of Republican senators continues to stymie the nomination.

WASHINGTON — Canada's embassy here played host to several hundred credit union representatives as part of a reception for the World Council of Credit Unions prior to CUNA's GAC here.

The Consumer Financial Protection Bureau has received its second warning for unclear and inefficient supervision from the U.S. Chamber of Commerce.

NCUA will review 16 of its regulations during 2013 for greater clarity and understanding as part of its three-year regulatory review cycle.