Compliance

Congress appears to have reached an overwhelming consensus of support for small bank carve-outs with 70% of the Senate called for the CFPB to exempt credit unions and community banks from certain regulations. Whether signing a letter of support will make a difference in the debate is unclear.

Walmart Stores Inc. can no longer count Marlene Gosparini and her employer as regular customers in Thunder Bay after the world’s largest retailer stopped accepting Visa Inc. credit cards at its three stores in the Canadian city.

The National Association of Federal Credit Unions (NAFCU) praised Sens. Joe Donnelly (D-Ind.) and Ben Sasse, (R-Neb.) for leading a bipartisan group of 70 senators who signed a letter urging the Consumer Financial Protection Bureau (CFPB), to exempt credit unions from certain rulemakings under the bureau's Dodd-Frank Act authority.

Paul Manafort, the campaign manager for the presumptive Republican presidential nominee, said Monday during a press briefing that reinstating the law, which separated commercial and investment banking, was one of the few changes Trump is proposing in the GOP platform.

ALEXANDRIA, Va. — The National Credit Union Administration (NCUA) announced Monday that it will provide consulting services to 161 federally insured credit unions in order to "help them grow, innovate and provide better member services."

Valley View Bancshares in Overland Park, Kan., is planning to replace its longstanding practice of having multiple bank charters.

The fragmentation of the U.S. regulatory system and uncertainty around what agencies will regulate fintech firms could slow down innovation.

The Consumer Financial Protection Bureau is expected to unveil a proposal on July 28 that would regulate debt collection practices.

The selection of Indiana Gov. Mike Pence as Donald Trump's running mate could clarify the presumptive Republican nominee's banking policy views, adding a policymaker to the ticket who has been outspoken about the Dodd-Frank Act, "too big to fail" and the CFPB.

Upcoming risk retention requirements may be the proverbial straw that breaks the back of the commercial mortgage-backed securities market.

Well-known in credit union circles, the latest appointee to the NCUA Board scored a flurry of kudos following the White House announcement.

Santander Bank will pay a $10 million fine for charging illegal overdraft fees and for signing up consumers for overdraft services without their consent, the Consumer Financial Protection Bureau said Thursday.

WASHINGTON — President Obama announced Wednesday his intention to nominate John Herrera, who serves on the board of one credit union and works for another, to fill the vacancy on the National Credit Union Administration's board.

Millennium Bank is said to have been the target of an enforcement action related to its work with the pot industry. The episode shows why many banks remain reluctant to serve the fast-growing cannabis industry.

Glendale Area Schools CU recently converted from a federal charter insured through NCUSIF to a state charter with private insurance through American Share Insurance, in part because the CU's outspoken CEO Stuart Perlitsh says the federal regulator is often "out of touch" with a credit union's local environment.

WASHINGTON – Lawmakers sparred Tuesday over a Republican plan to overhaul the Dodd-Frank Act and provide regulatory relief to well-capitalized credit unions.

Offering a new product or considering a merger may boost returns, but the Office of the Comptroller of the Currency says changes in strategy can be risky.

Banks frequently blame "the rules" in shunning partnerships with fintech startups. However, compliance can be a positive force, not something that inhibits growth.

WASHINGTON — The House on Thursday approved a spending bill that would change the structure of the Consumer Financial Protection Bureau and take away the Financial Stability Oversight Council's power to designate nonbanks as systemically important.

As the U.S. Supreme Court has agreed to consider a legal case on ATM fees, credit unions are bracing for impact.